The pair has retreated sharply after jumping till USDT12.40 (Poloniex). It is currently trading around USDT11.67 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: USDT11.67

Kijun-Sen level: USDT12.02

Trend reversal level - (100 day EMA) – USDT10.26

Long- term trend remains to be neutral. The pair is facing strong resistance at USDT12.48 (38.2% retracement of USDT15.24 and USDT10.77) and any break above targets USDT13.20. In the daily chart the pair is currently slightly below Tenken-Sen and Kijun-Sen.

Major resistance is around USDT12.48 (38.2% retracement of USDT15.24 and USDT10.77) and any break above targets USDT13.20 (Sep 13th high)/USDT14.55 (Aug 22nd high). Short-term support is seen at USDT11.48 (55- day EMA) and any break below targets USDT11.15 (21st- Sep high) and break below targets USDT10.77 (Sep 4th 2016 low) /USDT10.26 (100- day MA).