LTC/USD has bounced back after hitting 3.75 levels and turned green on Friday (BTC-e). It is currently trading at 3.82 levels (BTC-e).

Ichimoku analysis of daily chart:

Tenkan Sen: 3.78

Kijun Sen: 3.87

Trend reversal: 3.88 (90 EMA)

The pair faces resistance at 3.85 levels (200-day MA) and a break above would target 3.99 levels 4.00 levels (100 DMA)/ 4.05 (September 8 high).

On the downside, the pair is likely to find support near 3.75 levels and a break below would target 3.50 (psychological level)/ 3.22 (August 02 low).

In an online post on Reddit, Litecoin developer Xinxi has provided a development update saying that the research on confidential transactions (CTs) feature is being continued.

“As we think the theory behind it is solid enough for implementation, we start to think about the detailed plan”, he wrote.