LTC/EUR is seen trading in the red on Friday. The pair has once recovered sharply after making a low of 3.63 levels (BTCE). It is currently trading around 3.8210 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.69

Kijun-Sen level: 4.12

Trend reversal level - (90 day MA) – 3.71

Long-term and short-term trend remains to be bullish. LTC/EUR is facing strong resistance at 4.00 and any indicative break above that confirms minor trend reversal.

Major resistance is seen at 4 (Jun 25th high) and break above targets 4.21 (21 day MA)/4.38 (61.8% retracement of 5.20 and 3.04). Short term support can be noticed at 3.79 (7 day EMA) and any violation below will drag the pair till 3.59 (Jun 25th low)/3.40 (61.8% retracement of 3.04 and 4.00)/3.04 (Jun 23rd low).