I am going to start off by apologizing that I haven't been posting as much, crypto as a whole has been kind of boring as Bitcoin has been going sideways for the past week.

Ethereum

Ethereum has broken 500 support recently, and we are seeing a drop towards the 450 level due to the fact that Bitcoin couldn't breakout to 10k.

I would like for the price to hold this area, otherwise my ABCDE count would be invalidated. I feel as though if this happens it could be a signal for a short-term bear market.

The RSI is not on the oversold side yet which is another reason as well that this may not be the final low. Taking a low at the previous times the RSI was oversold, it was very overextended before we saw any type of upward bullish movement

A break of the 200 EMA at 700 would be great in the next few weeks, as it would confirm the reversal off the lows.

Litecoin

Litecoin has dropped from the 167 resistance level, as it failed to break above both of the EMAs. This was mostly because Bitcoin couldn't get past the 9000 level, and has dropped slightly below 8000 now.

I am now looking for the price to hit support at 136 and bounce for one main reason. Bitcoin is currently at 7919, and the lower log support line is at the 7500, so if Bitcoin develops support at this area I expect Litecoin to do the same simultaneously.

If Bitcoin somehow doesn't have the strength to stay above the lower trendline, Litecoin should hit support at 100. The RSI will be very oversold by then, and there will be an extremely high chance of a bounce then.

Either way, I would wait for Bitcoin to see if it can hold 7500 for a low-risk swing trade off the lows.

Disclaimer: (I am not a financial advisor, do your own due diligence when investing in cryptocurrencies. This is just my speculative opinion.)