LTC/EUR recovers after making a low of 3, slight jump till 4.40 likely

LTC/EUR has recovered and seen trading in green on Friday. The pair has recovered till 3.87 levels (BTCE). It is currently trading around 3.75 at the time of writing.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: 3.46

Kijun-Sen level: 4.00

Trend reversal level - (90 day MA) - 4.40

Short- term trend seems to be bullish. In 4hour chart the pair is trading above 7 4H EMA and Tenken-Sen. So slight jump till 4/4.40 is possible.

Major resistance is seen at 3.86 (21 4H EMA) and break above targets 4.01/4.40 (61.8% retracement of 5.20 and 3.04). Short-term support can be notices at 3.00 and any violation below will drag the pair till 2.60(Jan 1st 2016 low) /2.24.