LTC/EUR is seen trading well below in red on Friday. The pair is has broken major support 3.378 and declined slightly below that level (BTCE). It is currently trading around 3.3680 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 3.49

Kijun-Sen level: 3.419

Trend reversal level - (90 days EMA) - 3.5145

Long-term trend remains to be neutral. In the daily chart, the pair is trading well below 200- day MA and a decline till 3.21/3.11 is possible.

Major resistance is around 3.495 (10- day MA) and any break above targets break above targets 3.678 (100- day MA)/4/4.15 (Jul 2nd, 2016 high). Short-term support is seen at 3.378 (Sep 9th 2016 low) and any violation below targets 3.29 (Aug 28th low)/3.134 (61.8% retracement of 2.90 and 3.5130)/2.90 (Aug 2nd low).