ETH/EUR is seen trading well above on Wednesday and the pair has recovered sharply after declining till 24.45 yesterday. ETH/EUR hits fresh all-time high on Mar 13th 2017 and shown some profit booking at higher levels. ETH/EUR is trading higher and any minor weakness can be seen only below 23.40 levels (KRAKEN). It is currently trading around 27.27 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 21.82

Kijun-Sen level: 19.95

Major Trend reversal level - (daily Kijun-Sen) – 19.95

Long-term trend remains to be bullish. ETH/EUR struggles to close below 25 levels and any minor weakness can be seen only below that level.

The major resistance is around 28.50 (Mar 13th, 2017 high) and any break above targets 29.10 (113% retracement of 28.50 and 23.87)/30. Short term support is seen at 25 and any break below will drag the pair till 23.40 (38.2% retracement of 28.50 and 15.15).