LTC/EUR struggles to break above 4.000 level, decline till 3.667 likely
LTC/EUR is seen struggling to break above on Monday. The pair has declined after making a high of 4 levels (BTCE). It is currently trading around 3.682 at the time of writing. Ichimoku analysis of 4-hour chart shows: Ten…
By Sujha Sundararanjan
1 min read
Image from the original EconoTimes article
LTC/EUR is seen struggling to break above on Monday. The pair has declined after making a high of 4 levels (BTCE). It is currently trading around 3.682 at the time of writing.
Ichimoku analysis of 4-hour chart shows:
Tenkan-Sen level: 3.74
Kijun-Sen level: 3.52
Trend reversal level - (90 day MA) - 4.11
Short- term trend remains to be bearish. In 4hour chart the pair is trading below 200 4H MA. So slight decline till 3.000 is possible.
Major resistance is observed at 3.74 (21 4H EMA) and break above targets 4.01 (55 4H EMA)/4.20 (200 4H MA). Short term support is seen at 3.52 and any violation below will drag the pair till 3.00/ 2.60(Jan 1st 2016 low).
Farside Investors’ daily figures put the month’s net balance at a $175.6 million outflow after the funds’ $1.0747 billion intake over the prior three sessions.
