Ethereum (ETH), Litecoin (LTC) Daily Tech Analysis – 20 August

After yesterday’s gains, top cryptocurrencies will have to keep away today’s pivots for highs and prevent pullbacks.

Ethereum

Yesterday, ETH managed to gain around 5.58%. With the 0.01% modest gains on Wednesday, the late intraday sessions had the leading alternative coin at $3,184.21.

Mixed market actions early yesterday had ETH falling to $2,960 lows before finding support.

The coin managed to climb to intraday highs at $3,187 towards the end of the day. That was after staying away from the support at $2,933.

Enough momentum had the leading alt breaking its initial resistance at $3,109 to end its day around the $3,180 levels.

While publishing this content, Ethereum gained 0.70% to stand at $3,207. Meanwhile, early swings had the coin dropping to $3,179 before climbing to the $3,208 highs.

Ethereum’s Day Ahead

For now, ETH has to keep away the pivot at $3,111 to test its initial resistance around $3,261.

However, Ethereum will depend on the broader market backing to overcome the $3,250 levels for higher moves.  Excluding continuous rallies, the initial massive resistance near $3,300 might limit uptrends.

Meanwhile, a broad-based cryptocurrency rally will have the coin testing the resistance zone around 23.6% Fibonacci of $3,369. The 2nd massive resistance lies at $3,338.

Plunges beneath the pivot $3,111 will have ETH at the support around $3,034.

Technical Indicators

• First crucial support level – $3,034
• Pivot level – $3,111
• First crucial resistance level – $3,261
• 6% Fibonacci retracement – $3,369
• 2% Fibonacci retracement – $2,740
• 62% Fibonacci retracement – $1,725

Litecoin

Litecoin (LTC) surged 5.30% yesterday. The alt ended its day near $175.57 after reversing Wednesday’s 1.25 losses.

Meanwhile, mixed moves had LTC falling to $162.66 low before rising.

While writing this content, Litecoin hovers at $176.23 after gaining 0.38%. However, early sessions had the altcoin rising to $176.69 highs before dropping to $174.98.

LTC’s Day Ahead

LTC has to keep away the pivot at $171 to test the levels around 23.6% Fibonacci at $178 and the initial massive resistance at $180.

However, LTC will depend on correct catalysts to conquer the level at 23.6% Fibonacci.

Excluding extended rally will have LTC testing the $190 resistance before any pullbacks.

Technical Indicators

• First critical support – $167
• Pivot level – $171
• First critical resistance – $180
• 6% Fibonacci retracement – $178
• 2% Fibonacci retracement – $223
• 62% Fibonacci retracement – $296