Following the massive plunge over the past couple of days, LTC/USD is struggling to find strength. On Thursday, it hit a low of 3.31 levels, before recovering to 3.71 levels where it currently trades.
Ichimoku analysis of 4h chart shows:
Tenkan-Sen level: 4.07
Kijun-Sen level: 4.34
According to FxWirePro, the pair has broken major support 3.60 and declined till 3.311. It is trading well below ten and kijun, so a decline till 3.04 is possible.
The pair is facing major resistance at 3.91 (7 4h EMA), and a break above could see the pair testing 4.60 (21 4H MA)/4.80. On the other hand, support is seen at 3.31 (1.13% retracement of 3.60 and 5.65), and any weakness below this level could drag the pair till 3.04 levels.
