LTC/USD is seen plunging well below on Tuesday. The pair has retreated after making a high of $4.0340 (BTCE) yesterday. It is currently trading around $3.92 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen $4.040

Kijun-Sen $4.17

Trend reversal - $4.11

Long-term trend remains to be bullish. The short- term trend seems to be bearish. In the daily chart, the pair is trading well below Tenkan-Sen and kijun-Sen. So a decline till $3.68/$3.31is possible.

Major resistance is seen at $4.0277 (7 days EMA) and any break above will take the pair till $4.089 (21 days MA)/$4.1832 (55 days EMA). Major support can be observed at $3.90 (Jul 22nd low) and break below will drag the pair till  $3.68 (200 days MA)/$3.31 (200 day MA).