LTC/USD showed major weakness on Thursday, plunging to $4.05 levels. It is currently trading at $4.14 levels (BTC-e) at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen $4.21

Kijun-Sen $4.48

Trend reversal - $4.135

“The pair has briefly broken below 90 EMA and continues to hover around this level. A consistent break below would suggest further weakness in the pair”, FxWirePro said in a statement.

Major resistance is seen at $4.42 (21 day MA) and any break above confirms major bullishness, a jump till $4.84 (22 Jun high)/$5. On the flip side, major support is likely to be found at $4.14 (90 day EMA) and break below will drag the pair to $3.85 (Jun 25 low)/$3.66 (61.8% retracement of $3.31 and $4.31).