LTC/EUR trades below 200-day MA, decline till 2.76 likely
LTC/EUR is seen trading well below on Tuesday. The pair has made a temporary top around 3.49 (Aug 7th high) and declined from that level (BTCE). It is currently trading around 3.168 at the time of writing. Ichimoku analy…
LTC/EUR is seen trading well below on Tuesday. The pair has made a temporary top around 3.49 (Aug 7th high) and declined from that level (BTCE). It is currently trading around 3.168 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 3.32
Kijun-Sen level: 3.35
Trend reversal level - (90 days MA) - 3.615
Long- term trend remains to be neutral. In a daily chart, LTC/EUR is trading well below Tenken-Sen and Kijun-Sen. So a decline till 2.90 is possible.
Major resistance can be noticed at 3.37 (200 days EMA) and break above targets 3.615 (901 days EMA)/3.78 (100 day MA). Short term support is seen at 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.
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