LTC/EUR struggles to break above 200-day MA, decline till 2.90/2.63 likely
LTC/EUR is slightly recovering on Friday after the plunge. The pair has broken minor support at 3.1570 and slightly declined till 3.1090 levels (BTCE). It is currently trading around 3.1540 at the time of writing. Ichimo…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
LTC/EUR is slightly recovering on Friday after the plunge. The pair has broken minor support at 3.1570 and slightly declined till 3.1090 levels (BTCE). It is currently trading around 3.1540 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 3.315
Kijun-Sen level: 3.34
Trend reversal level - (90 days MA) - 3.5963
Long- term trend remains to be neutral. In a daily chart, LTC/EUR is trading well below 200-day MA. So a decline till 2.90/2.63 is possible.
Major resistance is seen at 3.25 (9 days EMA) and break above targets 3.38 (200 days MA)/3.59 (90 days EMA)/3.78 (100 day MA). Short-term support is around 2.90 (Aug 2nd low) and any violation below will drag the pair till 2.76 (161.8% retracement of 3.04 and 4.145)/2.63.
