In This Article:
Ethereum
Ethereum fell by 1.63% on Wednesday. Partially reversing a 6.17% slide from Tuesday, Ethereum ended the day at $4,271
A mixed start to the day saw Ethereum rise to an early morning intraday high $4,360 before hitting reverse.
Falling short of the first major resistance level at $4,467, Ethereum slid to an early afternoon intraday low $4,169.
Steering clear of the first major support level at $4,139, however, Ethereum revisited $4,280 levels before easing back.
At the time of writing, Ethereum was down by 0.03% to $4,270. A mixed start to the day saw Ethereum rise to an early morning high $4,288 before falling to a low $4,269.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $4,267 pivot to bring the first major resistance level at $4,364 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,300 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $4,360 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,500 levels before any pullback. The second major resistance level sits at $4,457.
A fall through the $4,267 pivot would bring the first major support level at $4,173 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level at $4,076 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $4,173
Pivot Level: $4,267
First Major Resistance Level: $4,364
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin
Litecoin fell by 1.88% on Wednesday. Partially reversing a 3.44% gain from Tuesday, Litecoin ended the day at $212.2.
Tracking the broader market, Litecoin rose to an early morning intraday high $216.7 before hitting reverse.
Falling short of the first major resistance level at $222, however, Litecoin slid to an early afternoon intraday low $206.0.
Litecoin fell through the first major support level at $208 before a partial recovery to end the day at $212 levels.
At the time of writing, Litecoin was down by 0.20% to $211.8. A mixed start to the day saw Litecoin rise to an early morning high $212.9 before falling to a low $211.6.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through the $212 pivot to bring the first major resistance level at $217 into play.