LTC/USD is struggling to close above 200-day MA and continues to hover around this level. It is currently trading at 3.72 levels (BTC-e).

Ichimoku analysis of daily chart:

Tenkan Sen: 3.66

Kijun Sen: 3.70

Trend reversal: 3.73 (200 MA)

The pair’s seems to be capped by 10 EMA, and a break above would see minor bullish trend. On the upside, major resistance is seen at 3.73 levels (200 MA) and a consistent break above could see the pair testing 4.01 levels (90 EMA)/4.19 (100 MA).

On the flipside, support is likely to be found at 3.51 (50% retracement of 3.22 and 3.80) and a break below would drag the pair to 3.31 (June 23 low)/3.14.