In This Article:
Ethereum
Ethereum fell by 2.02% on Thursday. Partially reversing a 2.88% rally from Wednesday, Ethereum ended the day at $737.67.
Another mixed start to the day saw Ethereum rise to an early morning high $755.90 before hitting reverse.
Falling short of the first major resistance level at $768.91, Ethereum slid to an early afternoon intraday low $724.00.
Ethereum fell through the first major support level at $726.91 before briefly revisiting $747 levels.
A bearish end to the day, however, saw Ethereum fall back to sub-$740 levels.
At the time of writing, Ethereum was up by 1.16% to $746.24. A mixed start to the day saw Ethereum fall to an early morning low $731.00 before rising to a high $750.00.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the pivot level at $739.19 to support a run at the first major resistance level at $765.38.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $750.00.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $755.90 would likely cap any upside.
In the event of another extended crypto rally, Ethereum could test the second major resistance level at $771.09.
Failure to avoid a fall through the $739.19 pivot would bring the first major support level at $722.48 into play.
Barring an extended sell-off, however, Ethereum should steer well clear of sub-$700 levels. The second major support level at $707.29 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $722.48
Pivot Level: $739.19
First Major Resistance Level: $754.38
23.6% FIB Retracement Level: $599
38.2% FIB Retracement Level: $500
62% FIB Retracement Level: $340
Litecoin
Litecoin slid by 4.37% on Thursday. Reversing a 1.10% gain from Wednesday, Litecoin ended the day at $124.41.
It was a bearish start to the day. Litecoin slid from an early morning intraday high $130.35 to an early afternoon intraday low $122.00.
The reversal saw Litecoin fall through the first major support level at $124.18 before wrapping up the day at $124.4 levels.
Resistance at $125 pinned Litecoin back in the second half of the day.
At the time of writing, Litecoin was up by 7.27% to $133.45. A mixed start to the day saw Litecoin fall to an early morning low $123.19 before striking a high $134.22.
Litecoin broke through the first major resistance level at $129.17 to test the second major resistance level at $133.94 early on.
For the day ahead
Litecoin would need to avoid a fallback to sub-$130 levels to support a run at $135 levels. Support from the broader market would be needed, however, for Litecoin to break out from the second major resistance level at $133.94.