ETH/EUR pair has a recovered after showing a dip till 231 levels yesterday (KRAKEN). ETH/EUR jumped till 275 and is currently trading around 244.10 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 246

Kijun-Sen level: 259

Minor Trend reversal level - (89 EMA) – 170

Long-term trend remains to be bullish. ETH/EUR faces intraday major support at 230 (61.8% retracement of 193 and 293) and any break below will drag the pair till 193.

The major resistance is around 262 (55- 4H EMA) (trend line joining 385 and 354) and any break above targets 275 (200- 4H MA)/ 313 (61.8% retracement of 385 and 193)/354/385. Short term support is around 230 and any break below will drag the pair till 193/170/115.

It is good to buy above around 262 with SL around 230 for the TP of 300/313.