LTC/USD has hit a low of 3.78 levels so far in the day, before restoring its strength slightly above 3.80 levels where it currently trades (BTC-e).

Long-term trend: Bearish

Ichimoku analysis of daily chart:

Tenkan Sen: 3.84

Kijun Sen: 3.84

Trend reversal: 3.87 (90 EMA)

On the upside, the pair is struggling to break above 3.82 (10-DMA). A consistent break above this level would target 3.89 (200-DMA)/4.05 (September 08 high).

On the downside, the pair has taken support at 3.78 (September 30 low) and any violation would drag it to 3.70 (September 22 low)/3.50 (psychological level).