By Billie Harvill
After Thursday and Wednesday’s gains, the digital coins would test their critical supports if they fail to hold the day’s pivot zones.
Ethereum
Thursday’s market positivity had Ethereum rising by 1.43%. The altcoin traded at $2,024.75 towards the end of the day after consolidating the 11.74% increased from Wednesday.
After fluctuating morning sessions, ETH declined to $1,948.68, a mid-day low before registering price moves.
Ethereum rallied to $2,045.74 in the afternoon after conquering the first vital support at $1,823.
The leading altcoin declined to the sub-$2,000 zones after failure to overcome the first critical resistance at $2,102.
While writing this, Ethereum stands at $2,026.79 after a 0.10% increase. However, an unpredictable morning had ETH rising to $2,032.00 before dropping to $2,014.94 lows.
Ethereum did not test its crucial resistance and support levels earlier on.
The Day Ahead
To test the crucial resistance at $2,065, ETH will have to avoid the pivot at $2,007.
For now, the asset awaits the broader market support to breaking $2,046.74, Thursday’s highs.
Excluding continuous rallies, the coin will have its upside moves capped by the first critical resistance. Meanwhile, a crypto rally will have the asset testing the $2,150 resistance before experiencing pullbacks. The second vital resistance lies at $2,105.
Technical Indicators
- First vital support zone – $1,967
- First vital resistance level – $2,065
- Pivot level – $2,007
- 6% Fibonacci retracement level – $3,369
- 2% Fibonacci retracement level – $2,740
- 62% Fibonacci retracement level $1,725
Litecoin
On Thursday, Litecoin increased by 2.44%. After Wednesday’s 9.66% rally, the crypto ended its trading day near $120.74. A bearish Thursday saw LTC falling to $115.63 in the early morning before price movements.
The coin surged to $122.10 in the late afternoon after overcoming the first vital resistance at $109.
While writing this, LTC declined to $120.02 after losing 0.60%. Meanwhile, Litecoin rose to $121.01 on Friday morning before dropping to $119.65 lows. Keep in mind that the altcoin did not test its critical resistance and support levels.
For now, LTC needs to prevent the pivot at $120 to test its critical resistance at $123.
Technical Indicators
- First vital support level – $117
- First crucial resistance level – 4123
- Pivot level – $120
- 6% Fibonacci retracement – $178
- 2% Fibonacci retracement – $223
- 62% Fibonacci retracement level – $296