LTC/USD failed to hold its ground above 90 EMA, hit on Tuesday and has declined sharply. The pair touched major trend line 200-day MA earlier in the day and currently trades at 3.79 levels at the time of writing (BTC-e).

Ichimoku analysis of daily chart:

Tenkan Sen: 3.77

Kijun Sen: 3.63

Trend reversal: 3.93 (90 EMA)

On the topside, the pair will run into resistance at 3.93 (90 EMA) and a break above would target 4.16 (100-day MA)/4.70 (113% retracement of 4.53 and 3.22).

On the flipside, support is seen at 3.77 (200-day MA) and a break below would confirm bearishness for the pair. Any weakness below 200 DMA would target 3.50 levels and then 3.22 (August 02 low).