A few financial commentators are shouting about the support zone in BTC/USD in the chart below marked by the black rectangle. There are multiple rejections at this level in the past and the level seems to be well respected. Now the market needs to see if the level is important enough to reject to the downside and the bulls may come in to push the price higher.
Ethereum (ETH) is changing hands at $197.70, down 1.4% since the beginning of the day and -2.65% on a day-to-day basis. The second-largest digital asset with the current market capitalization of $21.7 billion attempted a recovery above $200, but failed to hold the ground moving in sync with the broader market.
Litecoin is looking bearish again and the price is trading another 5% lower on Wednesday. This comes after a heavy fall over the weekend. Looking at the prices now it's hard to see any support levels close by. This led me to look further back to see if there was any meaningful support zones in the past that could be used in the nearer term.
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