LTC/USD plunged further on Tuesday, breaking below the 200 day MA briefly and hitting a low of 3.67 levels today. It is currently trading at 3.71 levels at the time of writing (BTC-e).

Ichimoku analysis of daily chart:

Tenkan Sen: 3.94

Kijun Sen: 4.08

The pair faces major resistance is around $3.95 (7 day EMA) and any break above targets $4.089 (90 day EMA)/$4.20 (61.8% retracement of $4.53 and $3.67). On the flipside, major support is seen at $3.70 (200 day MA) and break below confirms major weakness, a decline till $3.310/$3 is possible.