Ethereum (ETH), Litecoin (LTC) Tech Analysis – August 14
After the broad-based cryptocurrency rally on Friday, top digital currencies will have to avoid critical pivot zones to affirm added upticks.
Friday’s sessions saw Ethereum rallying by 9.10%. With the positive mood that the crypto space depicted, ETH managed to reverse the 3.64% Thursday losses to end the trading day at around $3,324.51.
As usual, Friday started with mixed sessions. That way, ETH dropped during the early morning, trading at $3,034.52 lows before upside reactions.
The world’s favorite altcoin climbed to a late high of $3,330 after ETH managed to avoid $2,938, its initial support.
The price actions had the altcoin breaking the resistance at $3,198, ending its day at $3,300 price levels.
While writing these updates, ETH lost 0.26% to stand at $3,315.85. Meanwhile, the early market reactions had the asset falling to $3,285.92 before climbing to a $3,328.97 high.
For the coming sessions today, ETH has to avoid the pivot around $3,230 to test the 23.6% Fibonacci at $3,369. With that, the crypto would engage the initial resistance near $3,425. The correct upside catalysts are essential for such price reactions.
Technical Indicators
- Initial massive support – $3,129
- Pivot level – $3,230
- Initial massive resistance – $3,425
- 23.6% Fibonacci retracement – $3,369
- 38.2% Fibonacci retracement – $2,740
- 62% Fibonacci retracement – $1,725
The mixed Friday session had LTC gaining by 10.81% to reverse Thursday’s 3.05% plunges. That way, the alternative asset traded around $183.42 towards the end of the day.
Meanwhile, Litecoin climbed a $184.70 after keeping away from the initial support at $158.
The crypto managed to break $177, the initial resistance, and the 23.6% Fibonacci of $178, ending its day at the $183 price levels.
While writing this, LTC trades at $183.97 after 0.30% upticks. Meanwhile, fluctuating early sessions had LTC falling to $181.51 before climbing to $185.11 highs.
The alternative asset left its critical resistance and support zones untested.
However, LTC has to dodge the pivot at $177 and 23.6% Fibonacci to test its initial resistance near $191. The broader market responses will detect LTC’s next moves
Technical Indicators
- Initial support – $170
- Pivot level – $177
- Initial resistance – 4191
- 23.6% Fibonacci retracement – $178
- 38.2% Fibonacci retracement – $223
- 62% Fibonacci retracement – $296
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