Ethereum rose by 1.43% on Thursday. Consolidating an 11.74% rally from Wednesday, Ethereum ended the day at $2,024.75.
After a mixed start to the day, Ethereum fell to a mid-day intraday low $1,948.68 before making a move.
Steering clear of the first major support level at $1,823, Ethereum rallied to a late afternoon intraday high $2,046.74.
Falling short of the first major resistance level at $2,102, however, Ethereum fell back to sub-$2,000 levels before ending the day at $2,000 levels.
At the time of writing, Ethereum was up by 0.10% to $2,026.79. A mixed start to the day saw Ethereum rise to an early morning high $2,032.00 before falling to a low $2,014.94.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the $2,007 pivot to bring the first major resistance level at $2,065 into play.
Support from the broader market would be needed, however, for Ethereum to breakout from Thursday’s high $2,046.74.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rally, Ethereum could resistance at $2,150 before any pullback. The second major resistance level sits at $2,105.
A fall the $2,007 pivot would bring the first major support level at $1,967 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,900 levels. The second major support level at $1,909 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $1,967
Pivot Level: $2,007
First Major Resistance Level: $2,065
23.6% FIB Retracement Level: $3,369
38.2% FIB Retracement Level: $2,740
62% FIB Retracement Level: $1,725
Litecoin rose by 2.44% on Thursday Following a 9.66% rally on Wednesday, Litecoin ended the day at $120.74.
A bearish start to the day saw Litecoin fall to an early morning intraday low $115.63 before making a move.
Steering clear of the first major resistance level at $109, Litecoin rallied to a late afternoon intraday high $122.10.