LTC/USD trades weaker, bullishness only above 3.91

LTC/USD is struggling to close above 200-day MA and is currently trading at 3.83 levels (BTC-e).

Short-term trend: Bearish

Ichimoku analysis of daily chart:

Tenkan Sen: 3.81

Kijun Sen: 3.87

Trend reversal: 3.88 (90 EMA)

“On the upside, the pair is showing a slight dip after hitting 3.91 levels (the trend line joining 4.53 and 4.05) and any break above this level would take the pair to September 08 high of 4.05 levels”, FxWirePro said in a statement.

LTC/USD is facing a major resistance at 3.86 levels (200-day MA) and a break above would target 3.91 levels (September 26 high)/ 4.05 (September 8 high).

On the flipside, the pair might find support near 3.81 (10-day MA) and a break below would drag the pair to 3.70 levels (September 22 low)/3.50 (psychological level).