Top cryptocurrencies start today with a bullish attitude. However, failure to overpower the day’s pivots will have the virtual assets hitting their support level.
Ethereum declined by 4.55% yesterday, Tuesday. That saw the leading altcoin reversing Monday’s 2.52% surges. That way, ETH traded at $3,172.5 as Tuesday ended.
Meanwhile, mixed early sessions yesterday had ETH rising to intraday highs of $3,360 before reversing. However, the asset failed to challenge the 23.6% Fibonacci of $3,369 and the initial massive resistance at $3,390. For that reason, Ethereum’s afternoon saw the coin hitting intraday lows at $3,133.5.
The crypto breached the initial support at $3,245 and the 2nd one at $3,166. Ethereum gained momentum, moving through its 2nd support, ending the day near $3,170.
While publishing this article, ETH gained 0.79% to stand at $3,196.5. However, unpredictable sessions early today had ETH falling to $3,170 before climbing to $3,213.4.
ETH’s Day Ahead
The leading alt has to overcome the pivot at $3,222 to test the initial resistance near $3,310 and 23.6% Fibonacci of $3,369. Support from the broader crypto market is necessary for ETH to crack the $3,300 price levels. With positive sentiments, the altcoin might test the resistance at around $3,400. The 2nd critical resistance zone locates at $3,448.
Technical Indicators
- Support – $3,081
- Pivot – $3,222
- Resistance – $3,310
- 6% Fibonacci retracement – $3,369
- 2% Fibonacci retracement – $2,740
- 62% Fibonacci retracement – $1,725
Litecoin
Tuesday’s price movements had LTC sliding by 7.18 following the 0.60% rise on Monday. That had LTC hovering at $173.54 towards the end of the day.
While writing this content, Litecoin gained 0.08% to trade at $174.93. Early actions today, Wednesday, had the altcoin falling to $173 before climbing to the $176.44 high.
LTC’s Day Ahead
To ensure upticks, LTC has to overcome the pivot at $178 and the 23.6% Fibonacci of $178 to test the massive resistance zone at $184. LTC will have to take advantage of the market rally to crack the $180 price zones. Extended upside movements will witness LTC testing the $190 resistance before any fall. The coin’s 2nd resistance locates at $195.
Technical Indicators
- Support – $168
- Pivot – $178
- Resistance – $184
- 6% Fibonacci retracement – $178
- 2% Fibonacci retracement – $223
- 62% Fibonacci retracement – $296
