LTC/USD is currently trading at 5.12 levels, after hitting 5.23 levels earlier in the day (BTC-e). Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 4.97

Kijun-Sen level: 4.6

Trend reversal level - (90 day EMA) - 3.99

Long term trend remains bullish and the pair faces resistance at 5.41 levels (1.13% retracement of 5.35 and 4.834 levels), and a consistent break above would see the pair reaching 5.66 levels and then to 6.18 levels. On the reverse side, support is seen at $4.93 (23.6% retracement of $5.35 and $3.6) and any weakness below this level will see the pair dropping $4.50/$4.18 (55 day EMA).

“LTC/USD has taken support at 10 EMA, so a jump till 5.44 seems likely”, said FxWirePro in a statement.