LTC/USD is hovering around 200-day MA, after hitting 3.76 levels earlier in the day. It is currently trading at 3.69 levels (BTC-e) at the time of writing.

Ichimoku analysis of daily chart:

Tenkan Sen: 3.66

Kijun Sen: 3.70

Trend reversal: 3.70 (200 DMA)

The pair is trading in the red and long-term trend appears weak. A close below 200-day MA would suggest further weakness in the pair.

Major resistance is seen at 3.83 levels (7 EMA) and a break above would target 4.07 levels (90 EMA)/4.53 (July 2 high). On the reverse side, support is likely to be found at 3.31 levels (June 23 low), and a break below would drag the pair to 3.22 levels (August 2 low)/3.15 (113% retracement of 3.31 and 4.53).