LTC/EUR trades in red on Thursday and likely to go up. The pair has broken major support 3.90 yesterday and declined till 3.07 levels (BTCE). It is currently trading around 3.36 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.69

Kijun-Sen level: 4.01

Trend reversal level - (90 day MA) - 4.40

Short- term trend seems to be bearish. In 4-hour chart RSI (14) is in oversold zone. So slight jump till 4/4.40 is possible.

Major resistance is seen at 3.65 (7 4H EMA) and break above targets 4.01/4.40 (55 4H EMA). Short term support is seen at 3.00 and any violation below will drag the pair till 2.60(Jan 1st 2016 low) /2.24.