The pair has declined sharply from the high of USDT11.39 made yesterday (Poloniex). It is currently trading around USDT10.70 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: USDT11.47

Kijun-Sen level: USDT11.62

Trend reversal level - (100 days MA) – USDT11.05

Long-term trend remains to be bearish. The pair breaks major support at 100-day MA and this confirms minor weakness.

Major resistance is around USDT11.05 (100- day MA) and any break above targets USDT11.42 (9- day EMA)/ USDT 12.03 (trend line joining USDT13.20 and USDT12.40)/USDT12.48 (38.2% retracement of USDT15.24 and USDT10.77). Short-term support is seen at USDT10.77 (4th Sep low) and any break below targets USDT10.38 (1.13% retracement of USDT10.77 and USDT13.20)/Uusdt9.20 (200- day MA).