LTC/USD moved further south on Friday and has hit a fresh low of 3.78 levels. It is currently trading at 3.79 levels (BTC-e).

Short-term trend: Bearish

Ichimoku analysis of daily chart:

Tenkan Sen: 3.81

Kijun Sen: 3.87

Trend reversal: 3.88 (90 EMA)

“The pair is showing a dip after hitting 3.91 levels earlier this week and has moved inside the Ichimoku cloud once again. It is trading weak and is likely to find support near 3.75 levels”, FxWirePro said in a statement.

Major resistance is seen at 3.87 levels (200-DMA) and a break above would target 3.91 (September 26 high)/ 4.05 (September 08 high).

On the downside, support could be found at 3.75 (psychological levels) levels and any violation would see the pair falling to 3.70 (September 22 low)/3.50 (psychological level).