The pair has broken yesterday low of USDT11.37 and declined till USDT11.30 (Poloniex). It is currently trading around USDT11.30 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: USDT12.05

Kijun-Sen level: USDT12.13

Trend reversal level - (90 day EMA) – USDT10.54

Long-term trend remains to be neutral. In the daily chart, the pair is trading slightly below 55- day EMA. So a decline till USDT10.77 is possible.

Major resistance is around USDT12.02 (10- day MA) and any break above targets USDT12.13 (daily Kijun-Sen)/$1320 (Sep 13th high). Short-term support is seen at USDT11.33 (55- day EMA) and any violation below will drag the pair down till USDT10.77 (Sep 4th 2016 low)/USDT10.52 (90- day EMA).