The pair has jumped sharply from the low of USDT11.42 yesterday (Poloniex). It is currently trading around USDT11.72 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: USDT11.80

Kijun-Sen level: USDT11.77

Trend reversal level - (100 days MA) – USDT10.88

Long-term trend remains to be neutral. The pair faces minor resistance at USDT11.80 (daily Tenken-Sen) and minor bullishness only above that level.

Major resistance is around USDT11.80 and any break above targets USDT 12.03 (trend line joining USDT13.20 and USDT12.40)/USDT12.48 (38.2% retracement of USDT15.24 and USDT10.77)/USDT13.20 (Sep 13th 2016 high). Short term support is seen at USDT11.15 (4th Sep low and any break below targets USDT10.77 (Sep 9th low).