Ethereum fell by 1.33% on Monday. Following a 0.37% decline on Sunday, Ethereum ended the day at $4,565.06.
A bullish start to the day saw Ethereum rise to an early afternoon intraday high $4,770.00 before hitting reverse.
Ethereum broke through the first major resistance level at $4,709 before sliding to a late intraday low $4,541.00.
Steering clear of the first major support level at $4,530, however, Ethereum ended the day at $4,560 levels.
At the time of writing, Ethereum was down by 0.49% to $4,542.65. A mixed start to the day saw Ethereum rise to an early morning high $4,564.98 before falling to a low $4,527.43.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $4,625 pivot to bring the first major resistance level at $4,710 into play.
Support from the broader market would be needed, however, for Ethereum to break out from to $4,650 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $4,770.00 would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at the ATH $4,867.81 before any pullback. The second major resistance level sits at $4,854.
Failure to move through the $4,625 pivot would bring the first major support level at $4,481 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$4,300 levels. The second major support level at $4,396 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $4,481
Pivot Level: $4,625
First Major Resistance Level: $4,710
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin slid by 5.85% on Monday. Partially reversing an 8.38% rally from Sunday, Litecoin ended the day at $263.05.
A bullish start to the day saw Litecoin rise to a mid-morning intraday high $281.46 before hitting reverse.
Falling short of the first major resistance level at $290, Litecoin slid to a late intraday low $259.20.