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For the day ahead
Ethereum should avoid a fall through the $ 241 pivot to support a run at the first major resistance level at $ 245.64.
However, support from the broader market would be needed for Ethereum to break out of Sunday’s high of $ 243.9.
Barring another extended cryptocurrency rally, the first major resistance level and Sunday’s high $ 243.90 should put a cap on any upside.
Failure to avoid a fall through the pivot of $ 241 would bring the first major support level at $ 238.25 into play.
Barring another extended sell-off, Ethereum should continue to avoid levels below $ 230. The second major support level at $ 233.68 should limit any downside.
Looking at the technical indicators
Main Support Level: $ 238.25
Pivot level: $ 241
Major Resistance Level: $ 245.64
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Ripple’s XRP
Ripple’s XRP was up 0.18% on Sunday. After a 0.86% gain since Saturday, Ripple’s XRP ended the week up 13.79% at $ 0.20162.
A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.20340 before falling to a mid-morning low $ 0.19987.
Avoiding major resistance and support levels, Ripple’s XRP rallied to an afternoon intraday high $ 0.20447.
Failing to hit the first major resistance level at $ 0.2048, Ripple’s XRP plunged to an early afternoon low $ 0.19805.
Finding support at the first major support level at $ 0.1979, Ripple’s XRP is back to $ 0.199 levels.
At the end of the day, however, Ripple’s XRP plunged back to an intraday low $ 0.19792. Finding support at the first major support level at $ 0.1979, Ripple’s XRP ended the day at $ 0.20.
At the time of writing, Ripple’s XRP was down by 0.12% to $ 0.20138. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.20210 before falling to a low $ 0.20103.
Ripple’s XRP left the major support and resistance levels untested early on.
