LTC/EUR is seen trading high above in green on Thursday and faces strong support. The pair has once again slightly recovered after making a low of 3.63 levels (BTCE). It is currently trading around 3.7390 at the time of writing.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: 3.68

Kijun-Sen level: 3.74

Trend reversal level - (90 day MA) – 3.98

Short- term trend remains to be bearish. In 4hour chart the pair is trading below 200 4 HMA. So slight decline till 3.000 is possible.

Major resistance is seen at 3.85 (55 4H EMA) and break above targets 4 (Jun 25th high)/4.20 (200 4H MA). Short term support is noticed at 3.52 (50 % retracement of 3.04 and 4.00) and any violation below will drag the pair till 3.00/ 2.60(Jan 1st 2016 low).