LTC/USD has recovered from the lows of 3.22 levels hit yesterday, however, it continues to trade well below 200 day MA. It is currently trading at 3.63 levels at the time of writing (BTC-e).
Ichimoku analysis of daily chart:
Tenkan Sen: 3.66
Kijun Sen: 3.70
Trend reversal: 3.70 (200 DMA)
On the upside, the pair faces major resistance at 3.70 levels (200 DMA) and a break above would target 4.07 levels (90 EMA)/4.53 (July 2 high). On the other hand, support is seen at 3.31 levels (June 23 low), and a break below would drag the pair to 3.22 levels (August 2 low)/3.15 (113% retracement of 3.31 and 4.53).
