LTC/USD is seen plunging much below on Friday. The pair has slightly retreated after making a high of $3.98 levels (BTCE). It is currently trading around $3.902 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen $3.979

Kijun-Sen $4.15

Trend reversal - $4.10

Long-term trend remains to be bullish and the short- term trend seems to be bearish. In a daily chart, the pair is struggling to close above 21 days MA. So slight bullishness can be seen only above that level.

Major resistance is seen at $3.975 (7 days EMA) and any break above will take the pair till $4.044 (21 days MA)/$4.157 (55 days EMA). Major support can be noticed at $3.83 (Jul 26th low) and break below will drag the pair till $3.68 (200 days MA)/$3.31 (200 day MA).