LTC/USD has considerably weakened after hitting 4.05 levels and has slipped below 200-day MA. It is currently trading at 3.80 levels at the time of writing (BTC-e).

Short-term trend: Bearish

Ichimoku analysis of daily chart:

Tenkan Sen: 3.92

Kijun Sen: 3.80

Trend reversal: 3.91 (90 EMA)

“LTC/USD is trading below 200-day MA currently and a close below this level would confirm further bearishness in the pair”, FxWirePro said in a statement.

The pair faces major resistance at 3.91 (90 EMA) and a break above would target 4.05 levels (September 08 high)/ 4.10 (100-day MA). The pair must break above 4.05 levels for further upside.

On the other side, support is seen at 3.63 (50% retracement of 3.22 and 4.05) and a break below would target 3.50 (psychological level)/ 3.22 (August 02 low).