Ethereum, Litecoin Tech Analysis – 11 August

Altcoins Cryptocurrency Ethereum Litecoin (LTC) News Price Analysis

Top cryptos will have to overpower Tuesday’s obstacles to ensure higher price breakouts.

Ethereum

Ethereum (ETH) lost 0.64% of its value on Tuesday. After the 4.92% Monday rally, the leading alt ended its day near $3,142.09.

Yesterdays mixed morning sessions had ETH rising to $3,235 in the early morning before reversing.

Meanwhile, ETH dropped in the late afternoon, standing at $3,051 intraday low.

However, the coin managed to revisit the $3,190 mark before pulling back. That was after it managed to overpower the $2,973 support.

While writing this content, ETH traded at $3,150, following a 0.25% uptick. However, unpredictable morning sessions saw the altcoin falling to $3,135 before climbing to $3,154 highs.

The coin did not test its vital resistance and support levels

ETH’s Day Ahead

Ethereum has to prevent plunging beneath the pivot at $3,143 to test the resistance at $3,235.

However, broader market support is critical for the crypto to breach the $32,000 zones.

Without a continuous rally, Ethereum might have its rising efforts capped by $3,235. That is Tuesday’s high and the asset’s crucial resistance zone.

In cases of a broader market rally, ETH will possibly test the resistance at $3,369 and 23.6% Fibonacci. The following massive resistance zone lies at $3,327.

Technical Indicators

  • First critical support – $3,050
  • First critical resistance – $3,235
  • Pivot level – $3,143
  • 6% Fibonacci retracement – $3,369
  • 2% Fibonacci retracement – $2,740
  • 62% Fibonacci retracement $1,725

Litecoin

LTC lost 0.52% yesterday. The altcoin ended its day near $165.45 after the 11.09% surge on Monday.

A mixed morning had Litecoin rising to $168.42 in the early afternoon before reverses came.

However, the coin fell to $158.86 in the afternoon after failing to overcome the $177 massive resistance.

While publishing this news, LTC traded at $65.35 after losing 0.06%. The diverse morning had the asset dropping to $165.19 before climbing towards the $166.19 highs.

If Litecoin can prevent the pivot at $164, it can test the resistance at $170.

With the broader market support, LTC will manage to break out from its yesterday highs at $168.42.

Technical Indicators

  • First critical support – $160
  • First critical resistance – $170
  • 6% Fibonacci retracement – $178
  • 2% Fibonacci retracement – $223
  • 62% Fibonacci retracement – $296

Leave a Reply

Your email address will not be published.