In This Article:
Ethereum
Ethereum tumbled by 8.66% on Thursday. Following a 0.23% decline on Wednesday, Ethereum ended the day at $2,116.95.
A mixed start to the day saw Ethereum rise to an early morning intraday high $2,325.46 before hitting reverse.
Falling short of the first major resistance level at $2,387, Ethereum slid to a late intraday low $2,084.00.
The extended sell-off saw Ethereum fall through the day’s major support levels before finding support.
Late in the day, Ethereum moved back through the third major support level at $2,107 to end the day at $2,110 levels.
At the time of writing, Ethereum was down by 0.35% to $2,109.64. A mixed start to the day saw Ethereum rise to an early morning high $2,120.00 before falling to a low $2,108.66.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $2,176 pivot to bring the first major resistance level at $2,267 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,200 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test the second major resistance level at $2,417.
Failure to move through the $2,176 pivot would bring the first major support level at $2,026 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,934.
Looking at the Technical Indicators
First Major Support Level: $2,026
Pivot Level: $2,176
First Major Resistance Level: $2,267
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 3.91% on Thursday. Following a 1.05% loss on Wednesday, Litecoin ended the day at $132.10.
A mixed start to the day saw Litecoin rise to an early intraday high $137.81 before hitting reverse.
Falling well short of the first major resistance level at $141, Litecoin slid to a late intraday low $127.93.
Litecoin fell through the first major support level at $135 and the second major support level at $133.
Steering clear of the third major support level at $127, however, Litecoin found support to end the day at $132 levels.
At the time of writing, Litecoin was down by 0.31% to $131.69. A mixed start to the day saw Litecoin rise to an early morning high $132.29 before falling to a low $131.68.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $133 pivot to bring the first major resistance level at $137 into play.