Ethereum Technical Outlook
Ethereum moved higher towards the key 4100-4500 resistance area in the 4-hour chart as expected.
This could be the final stage of a higher degree wave C of a more significant daily correction, as we see a completed five-wave cycle.
However, we don't see any significant decline to confirm the top yet, so the current wave structure could still be a part of the wave (4) that can retest the highs for wave (5) again.
Critical support lies in the 3800-3400 zone, but any considerable decline below 3400 would indicate that bears are back.
Litecoin moved up in the 4-hour chart as expected, but now into a crucial 78.6% Fibonacci and 200-220 resistance area for a potential wave C of an A-B-C correction.
So, if it suddenly drops back below the channel support line and the 176 zone, the bears would be back in the game.
However, according to daily count #2, there's still a chance for higher moves, but only if it goes back to the 236 level.
