LTC/USD is seen trading well below in red on Wednesday. The pair has slightly recovered after making a low of $3.83 levels (BTCE) yesterday. It is currently trading around $3.90 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen $3.99

Kijun-Sen $4.17

Trend reversal - $4.10

Long-term trend remains to be bullish. Short- term trend seems to be bearish. In daily chart the pair is trading well below 21 day MA. So a decline till $3.68/$3.31is possible.

Major resistance is seen at $4.00 (7 day EMA) and any break above will take the pair till $4.069 (21 day MA)/$4.174 (55 day EMA). Major support can be noticed at $3.90 (Jul 22nd low ) and break below will drag the pair till  $3.68 (200 day MA)/$3.31 (200 day MA).