ETH/EUR is seen trading slightly below in red on Monday and the pair jumped till 47.80 after forming a minor bottom at 38.40 on Apr 4th, 2017 (KRAKEN). It is currently trading around 45.17 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 43.80
Kijun-Sen level: 42.25
Major Trend reversal level - (Mar 18th, 2017 low) – 28
Long-term trend remains to be bullish. ETH/EUR downside is capped by 7- day EMA, a minor weakness only below that level.
The major resistance is around 49.48 (Mar 29th, 2017 high) and any break above targets 56.32 (161.8%T retracement of 49.48 and 38.40).Short term support is seen at 44.38 (7-day EMA) and any break below will drag the pair till 42.29 (daily Kijun-Sen)/ 38.40 (Apr 4th low)/35 (Mar 22nd low).
