ETH/EUR pair has shown a minor profit booking after hitting fresh all-time high at 206 yesterday (KRAKEN) and it is currently trading around 169 at press time.

Ichimoku analysis of 4 hour chart shows:

Tenkan-Sen level: 181

Kijun-Sen level: 168

Minor Trend reversal level - (200 4H MA) – 80.30

Long-term trend remains to be bullish. ETH/EUR downside is capped by 61.8% fibo and any minor weakness can be seen only below that level.

The major resistance is around 203 (161.8% retracement of 175.64 and 130) and any break above targets 218 (161.8% retracement of 199.62 and 168.65). Short term support is seen at 168 (21 4H EMA) and any break below will drag the pair till 159 (61.8% retracement of 130 and 206)/ 130 (May 22nd low)/118 (89 4H EMA).

It is good to buy on dips around 165 with SL around 130 for the TP of 203/218.