ETH/EUR pair has slightly recovered till 195 after hitting low of 155 level (KRAKEN). It is currently trading around 180 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 206

Kijun-Sen level: 254

Minor Trend reversal level - (Jun 26th low) – 193

Long-term trend remains to be bullish. ETH/EUR has closed below 89- day EMA yesterday and decline till 113 likely.

The major resistance is around 209 (23.6% retracement of 385 and 155) and any break above targets 223 (55- EMA)/281. 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 185-190 with SL around 225 for the TP of 115.