LTC/EUR sees a strong resistance on Monday. The pair has retreated sharply after making a high of 4.11 levels (BTCE). It is currently trading around 3.89 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.86

Kijun-Sen level: 4.12

Trend reversal level - (90 day MA) – 3.72

The long-term and short-term trend remains to be bullish. LTC/EUR is facing strong resistance at 4.14 (21 day MA) and any indicative break above that confirms the minor trend reversal.

Major resistance is seen at 4 (Jun 25th high) and break above targets 4.14 (21 days MA)/4.38 (61.8% retracement of 5.20 and 3.04). Short term support can be noticed at 3.86 (7 days EMA) and any violation below will drag the pair till 3.59 (Jun 25th low)/3.40 (61.8% retracement of 3.04 and 4.00)/3.04 (Jun 23rd low).