ETH/EUR pair has broken previous all-time high of 206.20 yesterday and jumped till 220 levels (KRAKEN). The pair shown a minor profit booking from the high of 220 and declined till 191.94 and it is currently trading around 213.90 at press time.

Ichimoku analysis (4-Hour Chart):

Tenkan-Sen level: 192.88

Kijun-Sen level: 166.50

Minor Trend reversal level - (200 4H MA) – 107

Long-term trend remains to be bullish. ETH/EUR faces minor support at 4H Tenkan-Sen and any break below confirms minor weakness, a decline till 166 likely.

The major resistance is around 220 (113% retracement of 206.20 and 113) and any break above targets 250 (61.8% projection from 67.25 to 206 from 113)/263 (161.8% retracement of 206.79 and 113). Short term support is seen at 192 (4H Tenkan-Sen) and any break below will drag the pair till 178 (38.2% retrace 150 (89- 4H EMA)/113 (May 27th low).

It is good to buy on dips around 185 with SL around 165 for the TP of 220/250.