ETH/EUR pair is trading in a narrow range between 44.25 and 38.40 for the past three trading sessions (KRAKEN).  It is currently trading around 41.50 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 43.94

Kijun-Sen level: 35.01

Major Trend reversal level - (Mar 18th, 2017 low) – 28

Long-term trend remains to be bullish. ETH/EUR upside is capped by 10- day MA and any break above targets 49.48.

The major resistance is around 44.28 (10- day MA) and any break above targets 49.48 (Mar 29th, 2017 high)/ 52.91 (138.2% retracement of 49.48 and 40.50). Short term support is seen at 38 and any break below will drag the pair till 35 (Mar 22nd low)/28 (Mar 18th low).