LTC/EUR is seen trading higher on Wednesday. The pair has recovered after making a low of 3.7960 levels (BTCE) yesterday. It is currently trading around 3.97 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.88

Kijun-Sen level: 4.126

Trend reversal level - (90 days MA) – 3.73

Long-term trend remains to be bullish. The short- term trend seems to be bearish. In daily chart, LTC/EUR has taken support near 90 days EMA. So weakness can be seen only below that level.

Major resistance –4 (Jun 25th high) and break above targets 4.13/4.38 (61.8% retracement of 5.20 and 3.04). Short term support – 3.86 (7 days 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).