FxWirePro: ETH/EUR faces strong trend line resistance at 295, good to sell on rallies
ETH/EUR pair has a minor selling after hitting high of 293 yesterday (KRAKEN). ETH/EUR declined till 254 at the time of writing and is currently trading around 268 at press time. Ichimoku analysis of daily chart shows: T…
By Sujha Sundararanjan
Updated 1 min read
ETH/EUR pair has a minor selling after hitting high of 293 yesterday (KRAKEN). ETH/EUR declined till 254 at the time of writing and is currently trading around 268 at press time.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 257
Kijun-Sen level: 243
Minor Trend reversal level - (89 EMA) – 170
Long-term trend remains to be bullish. ETH/EUR faces strong trend line resistance around 295 and any break above will take the pair till 313/350.
The major resistance is around 295 (trend line joining 385 and 354) and any break above targets 313 (61.8% retracement of 385 and 193)/354/385. Short term support is seen at 200 and any break below will drag the pair till 170/115.
It is good to sell on rallies around 265-270 with SL around 295 for the TP of 198.
A validator with 32 Ether (ETH) in effective balance starts with a 0.0078125 ETH deduction; a larger amount of stake slashed in the 36-day window can put its full effective balance at risk.
