Ethereum rose by 1.36% on Tuesday. Partially reversing a 2.16% fall from Monday, Ethereum ended the day at $450.89.
It was a mixed start to the day. Ethereum fell to an early morning intraday low $439.36 before making a move.
Steering clear of the first major support level at $432.43, Ethereum rallied to a late morning intraday high $455.51.
Falling short of the first major resistance level at $458.60 Ethereum fell back to sub-$450 levels.
Finding support in the 2nd half of the day, Ethereum briefly revisited $455 levels before easing back to sub-$451 levels.
At the time of writing, Ethereum was down by 0.12% to $450.33. A mixed start to the day saw Ethereum rise to an early morning high $451.85 before falling to a low $450.11.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the pivot level at $448.59 to support a run at the first major resistance level at $457.81.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $455.51.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $460 before any pullback. The second major resistance level sits at $464.74.
Failure to avoid a fall through the $448.59 pivot would bring the first major support level at $441.66 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $432.44.
Looking at the Technical Indicators
First Major Support Level: $441.66
Pivot Level: $448.59
First Major Resistance Level: $457.81
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Litecoin fell by 2.23% on Tuesday. Following on from a 2.85% slide on Monday, Litecoin ended the day a $57.97.
It was also a mixed start to the day. Litecoin rose to an early morning intraday high $59.63 before hitting reverse.