ETH/EUR pair has recovered sharply after minor profit booking and hits fresh all time high at 199 (KRAKEN) yesterday and it is currently trading around 174 at press time.

Ichimoku analysis of 4-Hour Chart indicates:

Tenkan-Sen level: 174.86

Kijun-Sen level: 154.80

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

Long-term trend remains to be bullish. ETH/EUR hits fresh all time high at 199 and this confirms bullish continuation, a jump till 218 likely.

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 161.79 (21 4H EMA) and any break below will drag the pair till 130 (May 22nd low)/118 (89 4H EMA).

It is good to buy on dips around 180 -182 with SL around 159 for the TP of 203/218.