ETH/EUR pair declined sharply after showing a minor jump till 353 from the low of 258 (KRAKEN). ETH/EUR formed a temporary top around 385 and is currently trading around 331.90 at the time of writing.

Ichimoku analysis 4-Hour Chart shows:

Tenkan-Sen level: 319

Kijun-Sen level: 327

Minor Trend reversal level - (200 4H MA) – 234

Long-term trend remains to be bullish. ETH/EUR downside capped by trend line support at 300 and any break below targets 258/230.

The major resistance is around 380 (100% projection from 221 to 320.55 till 281.50) and any break above targets 437 (161.8% projection of 113 to 246.70 till 221). Short term support is seen at 300 (trend line joining 113 and 258) and any break below will drag the pair till 258 (Jun 7th 2017 low)/233 (200 -4H MA).

It is good to sell below 300 with SL around 330 for the TP of 258/233.