LTC/EUR is seen recovering slightly on Thursday after the plunge. The pair has slightly recovered till 3.20 at the time of writing from the low of 3.1570 levels (BTCE) made yesterday. It is currently trading around 3.20 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.315

Kijun-Sen level: 3.34

Trend reversal level - (90 days MA) - 3.5963

Long-term trend remains to be neutral. In a daily chart, LTC/EUR is trading well below 21-day MA. So a decline till 2.90 is possible.

Major resistance is seen at 3.3960 (200 days EMA) and any break above targets 3.605 (90 days EMA)/3.78 (100 day MA). Short-term support can be noticed 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.