FxWirePro: ETH/EUR struggles to close above 200 level, good to sell on rallies
ETH/EUR pair has slightly recovered till 195 after hitting low of 155 (KRAKEN). It is currently trading around 180 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen level: 202 Kijun-Sen level: 25…
By Sujha Sundararanjan
Updated 1 min read
ETH/EUR pair has slightly recovered till 195 after hitting low of 155 (KRAKEN). It is currently trading around 180 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 202
Kijun-Sen level: 254
Minor Trend reversal level - (61.8% Fibo) – 155
Long-term trend remains bullish.ETH/EUR faces strong resistance at 200 level and any close above will take the pair till 229.
The major resistance is around 202 (daily Tenkan-Sen) and any break above targets 219 (55- EMA)/229 (21- EMA)/254. Short term support is seen at 156 and any break below will drag the pair till 113/87 (200- MA).
It is good to sell on rallies around 200-205 with SL around 229 for the TP of 115.
