As Bitcoin tries to find a base from the fall earlier in the week a strong resistance has emerged.
The 9,500 level matches with the 50% Fibonacci and could become more important.
If the price breaks above there it will break the series of lower highs and lower lows.
If the level is rejected it could confirm the pair is in a 3rd wave (Elliott Wave) lower.
The 3rd wave is traditionally the longest so the market could be in for a hard time.
Ethereum fell around 27% from the high seen on February 18th.
Now there have been some signs of a small recovery but more data is needed.
Today the price has moved 4.5% higher but stopped short on the 38.2% Fibonacci level (240.00).
For the downtrend to continue a close below 215.00 would be needed.
Litecoin price is trading in positive territory by 5.50% in the session on Thursday.
LTC/USD is now running towards its fourth potential consecutive session firmly in the red.
A critical trend line of support was breached at around $72, inviting fresh selling.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.