LTC/USD hit a fresh high of 3.88 levels on Tuesday but failed to close above 21-day MA. It attempted to break above this level once again today, but has retreated to 3.81 levels where it currently trades (BTC-e).

Ichimoku analysis of daily chart:

Tenkan Sen: 3.82

Kijun Sen: 3.81

Trend reversal: 3.86 (90 EMA)

The pair has slipped below 3.81 (21-day MA) and must close above this level for further upside. Further strength would see the pair testing 3.86 (90 EMA)/3.91 (200-DMA).

On the downside, support is likely to be found at 3.78 level and a break below would target 3.70 (September 22 low)/3.50 (psychological level).