For the day ahead
Ethereum would need to move back through to $161 levels to support a run at the first major resistance level at $162.58.
Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $161.50.
Barring an extended crypto rally, the first major resistance level at $162.5 and Tuesday’s high $163.0 should limit any upside.
Failure to move back through to $161 levels could see Ethereum hit reverse.
A fall through to sub-$159 levels would bring the first major support level at $155.14 into play.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$155 levels.
Looking at the Technical Indicators
Major Support Level: $155.14
Major Resistance Level: $162.58
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP fell by 0.89% on Tuesday. Following on from a 0.89% decline on Monday, Ripple’s XRP ended the day at $0.18624.
A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.18894 to a late morning intraday low $0.18350.
Steering clear of the first major support level at $0.1822, Ripple’s XRP rallied to a late afternoon intraday high $0.18946.
Falling well short of the first major resistance level at $0.1919, Ripple’s XRP eased back to sub-$0.1870 levels to end the day in the red.
Resistance at $0.19 continued to pin Ripple’s XRP back.
At the time of writing, Ripple’s XRP was up by 1.03% to $0.18816. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18479 before striking a high $0.18869.
Ripple’s XRP left the major support and resistance levels untested early on.