ETH/EUR is trading below in red on Monday and the pair is trading in a narrow range between 44.25 and 38.71 for the past three trading session. It is currently trading around 40.90.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 43.32
Kijun-Sen level: 37.88
Major Trend reversal level - (Mar 18th, 2017 low) – 28
Long-term trend remains to be bullish. ETH/EUR struggles to close below 23.6% fibo, any break close below confirms minor weakness.
The major resistance is around 43.33 (21- day MA) and any break above targets 45.27 (61.8% retracement of 49.48 and 38.71)/ 49.48 (Mar 29th, 2017 high). Short term support is seen at 39 (23.6% retracement of 5.58 and 49.48) and any break below will drag the pair till 35 (Mar 22nd low)/28 (Mar 18th low).
