Ethereum slid by 6.80% on Thursday. Reversing a 1.89% gain from Wednesday, Ethereum ended the day at $3,997.93.
A mixed start to the day saw Ethereum rise to an early morning intraday high $4,346.42 before hitting reverse.
Falling short of the first major resistance level at $4,370, Ethereum tumbled to a late intraday low $3,960.00.
The extended sell-off saw Ethereum fall through the first major support level at $4,138.
Finding support at the second major support level at $3,988, however, Ethereum ended the day at $3,990 levels.
At the time of writing, Ethereum was down by 0.39% to $3,982.37. A mixed start to the day saw Ethereum rise to an early morning high $4,025.21 before falling to a low $3,977.01.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $4,102 pivot to bring the first major resistance level at $4,243 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $4,200 levels.
Barring an extended crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Ethereum could test resistance at $4,500 levels before any pullback. The second major resistance level sits at $4,488.
Failure to move through the $4,102 pivot would bring the first major support level at $3,857 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $3,738. The second major support level sits at $3,715.
Looking at the Technical Indicators
First Major Support Level: $3,857
Pivot Level: $4,102
First Major Resistance Level: $4,243
23.6% FIB Retracement Level: $3,738
38.2% FIB Retracement Level: $3,039
62% FIB Retracement Level: $1,909
Litecoin tumbled by 11.06% on Thursday. Following a 0.39% loss on Wednesday, Litecoin ended the day at $204.24.
A mixed start to the day saw Litecoin rise to an early morning intraday high $232.31 before hitting reverse.