LTC/USD continued its downtrend on Tuesday and temporarily broke below major support at 21-day MA. It has hit a low of 3.79 levels so far in the day and currently trades at 3.83 levels at the time of writing (BTC-e).
Ichimoku analysis of daily chart:
Tenkan Sen: 3.87
Kijun Sen: 3.84
Trend reversal: 3.86 (90 EMA)
On the upside, the pair will run into resistance at 3.86 (90 EMA) and any violation would see it testing 3.92 (200-day MA)/4.00.
On the downside, support is now seen at 3.82 (21-day MA) and a consistent break below would drag the pair to 3.75 (psychological level)/3.70 (September 22 low)/3.53 (August 15 low).
