ETH, LTC – Daily Technical Analysis

As usual, most digital coins started the early Saturday trading session with mixed reactions. Let us see what the top options had.

Ethereum

On Friday, Ethereum surged by 2%. With such moves, the altcoin reversed the 7.45% losses from Thursday, ending the day at around $2,156.00.

Bearish sentiments in the market saw Ethereum drop to $2,017.07 before initiating another move.

The morning price reversals had the best alternative coin falling through its first critical support zone at $2,027.

Meanwhile, Ethereum managed to rally to $2,159.43 late high in the second half of yesterday.

However, failing to break the crucial resistance at $2,232, ETH slide to end the market day at around $2,156.

While writing this, ETH lost 0.28% to trade at $2,150.04. An unpredictable morning trading period saw the altcoin rising to $2,166.60 earlier before dropping to a $2,150.04 low.

ETH did not test its major resistance and support levels early on.

To break the $2,205 first critical resistance, Ethereum has to avoid the pivot at $2,111.

Technical Indicators

  • First Crucial Support – $2,062
  • Pivot Level – $2,111
  • First Crucial Resistance – $2,205
  • 6% Fibonacci Retracement – $3,369
  • 2% Fibonacci Retracement – $2,740
  • 62% Fibonacci Retracement – $1,725.

Litecoin

Yesterday, LTC shaded 0.09%. After a 5.03% drop on Thursday, Litecoin ended its day trading at $136.91.

An unpredictable start had LTC increasing to $139.00 early on Friday before a reverse.

Failing to break its $143 resistance level, Litecoin declined to $130.60 during the late morning trading hours.

Keep in mind that the coin dropped through the first crucial support at $133 before recovering slightly to $136.

While writing this report, LTC lost 0.35% to trade at $136.43. However, the asset rose to $137.34 early on the morning before a plunge to $136.43.

Early on, Litecoin did not test its critical resistance and support levels.

The altcoin has to avoid the pivot level at $136 for chances to break the resistance at $140. However, broader market support is essential for such a move.

Technical Indicators

  • First Crucial Support – $132
  • Pivot Level – $136
  • First Critical Resistance – $140
  • 6% Fibonacci Retracement – $178
  • 2% Fibonacci Retracement – $223
  • 62% Fibonacci Retracement – $296

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