In This Article:
Ethereum
Ethereum fell by 0.23% on Wednesday. Following a 5.67% rally on Tuesday, Ethereum ended the day at $2,316.82.
A mixed start to the day saw Ethereum fall to an early morning intraday low $2,294.16 before making a move.
Steering clear of the first major support level at $2,228, Ethereum rallied to a mid-morning intraday high $2,411.19.
Ethereum broke through the first major resistance level at $2,383 before a pullback to sub-$2,320 levels.
At the time of writing, Ethereum was up by 0.22% to $2,321.81. A mixed start to the day saw Ethereum fall to an early morning low $2,309.09 before rising to a high $2,325.46.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $2,341 pivot to bring the first major resistance level at $2,387 into play.
Support from the broader market would be needed, however, for Ethereum to break out from $2,350 levels.
Barring an extended crypto rally, the first major resistance level and resistance at Wednesday’s high $2,411.19 would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $2,500. The second major resistance level sits at $2,458.
Failure to move through the $2,341 pivot would bring the first major support level at $2,270 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$2,200 levels. The second major support level at $2,224 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,270
Pivot Level: $2,341
First Major Resistance Level: $2,387
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin
Litecoin fell by 1.05% on Wednesday. Reversing a 0.78% gain from Tuesday, Litecoin ended the day at $137.42.
A mixed start to the day saw Litecoin fall an early intraday low $137.01 before making a move.
Steering clear of the first major support level at $136, Litecoin rallied to a midday intraday high $142.98.
Coming up against the first major resistance level at $143, Litecoin slid back to $137 levels and into the red.
At the time of writing, Litecoin was up by 0.04% to $137.47. A mixed start to the day saw Litecoin fall to an early morning low $137.08 before rising to a high $137.80.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $139 pivot to bring the first major resistance level at $141 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $140 levels.