LTC/EUR is seen trading above due to the recent addition of Litecoin trading in GDAX platform to meet the demands of its customer base. The pair retraced sharply from the low of 3.1190 made on Aug 22nd 2016 low (BTCE). It is currently trading around 3.4170 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.31

Kijun-Sen level: 3.3105

Trend reversal level - (90 day MA) - 3.55

Long- term trend remains to be neutral. It has broken major resistance at 3.38 (200 day MA) and jumped till 3.4690.The pair closed slightly above 200 –day MA at 3.4690.Any break above 200-day MA confirms minor bullishness, a jump till 3.78 (100 day MA and 38.2% retracement of 5.207 and 2.90)/4.32 is possible.

Major resistance is seen at 3.50 (55 –day EMA) and break above targets 3.78 (100 day MA)/4/4.32 (61.8% retracement of 5.207 and 2.90). Short-term support can be noticed at 3.20 (9 day EMA) and any violation below targets 2.90 (Aug 2nd low) /2.76 (161.8% retracement of 3.04 and 4.145)/2.63.