ETH/EUR pair broken the high of 49.48 and spiked till 53.51 at the time of writing as Ethereum bids for Wall Street ETF application. It is currently trading around 52.82 at the time of writing (KRAKEN).

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 46.75

Kijun-Sen level: 43.95

Major Trend reversal level - (Apr 6th low) – 38

Long-term trend remains to be bullish. ETH/EUR breaks all time high of 49.50 confirms major bullishness, a jump 56.32 likely.

The major resistance is around 53.50 (100% projection of 38.40 and 47.80 to 44) and any break above targets 56.32 (161.8%T retracement of 49.48 and 38.40). Short term support is seen at 49.94 (23.6% retracement of 53.51 and 38.40) and any break below will drag the pair till 46.75 (daily Tenken-Sen)/ 44.49 (21- day EMA).