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For the day ahead
Ethereum should avoid a downside through the $ 278.59 pivot to support a run at the first major resistance level at $ 288.80.
However, support from the broader market would be needed for Ethereum to break out of Friday’s high of $ 287.8.
Barring another extended cryptocurrency rally, the first major resistance level should limit any upside.
Failure to avoid a downside through the $ 278.59 pivot would bring the first major support level at $ 269.39 into play.
Barring an extended sell-off, however, Ethereum should avoid the levels below $ 260. The second major support level is found at $ 259.18.
Looking at the technical indicators
First major support level: $ 269.39
Pivot Level: $ 278.59
First major resistance level: $ 288.80
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Ripple’s XRP
Ripple’s XRP slid 2.07% on Friday. Reversing a 2.30% gain since Thursday, Ripple’s XRP ended the day at $ 0.20445.
It was a bearish start to the day. Ripple’s XRP slipped from a morning intraday high $ 0.20882 to a mid-morning intraday low $ 0.20212.
The reversal saw Ripple’s XRP slide through the first major support level at $ 0.2036 before finding support.
Ripple’s XRP rallied back to $ 0.20775 towards the end of the day before falling back to deep red.
The first major support level limited the downside towards the end of the day.
At the time of writing, Ripple’s XRP was up by 0.09% to $ 0.20463. A mixed start to the day saw Ripple’s XRP drop to a morning low $ 0.20401 before hitting a high $ 0.20468.
Ripple’s XRP left the major support and resistance levels untested early on.
