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For the day ahead
Ethereum is expected to cross the 38.2% FIB of $ 367 and the pivot of $ 370.19 to support a run at the first major resistance level at $ 386.8.
However, support from the broader market would be needed for Ethereum to break through the 38.2% FIB.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
Failure to break out of FIB’s 38.2% and pivot of $ 370.19 would bring the first major support level at $ 350.0 into play.
Barring an extended sell off, however, Ethereum should avoid the second major support level at $ 333.36.
Looking at the technical indicators
First major support level: $ 350.0
Pivot Level: $ 370.19
First major resistance level: $ 386.80
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Ripple’s XRP
Ripple’s XRP fell 2.39% on Sunday. Reversing a 1.90% gain from Saturday, Ripple’s XRP ended the week up 1.02% at $ 0.24207.
It was a bullish start to the day. Ripple’s XRP rose to a morning intraday high $ 0.25336 before reversing.
Ripple’s XRP broke through the first major resistance level at $ 0.2507 before sliding to a late afternoon intraday low $ 0.23778. The second major resistance level at $ 0.2540 blocked Ripple’s XRP earlier in the day.
The sell-off saw Ripple’s XRP slide through the first major support level at $ 0.2423 before finding support.
At the end of the day, Ripple’s XRP plunged back to $ 0.2420 levels to limit the day’s downside.
At the time of writing, Ripple’s XRP was down by 0.20% to $ 0.24158. A bearish start to the day saw Ripple’s XRP fall from a morning high $ 0.24207 to a low of $ 0.23903.
Ripple’s XRP left major support and resistance levels untested at the start.
