For the day ahead
Ethereum would need to avoid sub-$241.60 levels to support a run at the first major resistance level at $248.68.
Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $245.45.
Barring a broad-based crypto rally, the first major resistance level and Sunday’s high should cap any upside.
Failure to avoid sub-$241.60 levels could see Ethereum give up Saturday’s gains.
A fall back through the morning low to sub-$241.60 levels would bring the first major support level at $237.71 into play.
Barring an extended crypto sell-off, however, Ethereum should continue to steer clear sub-$230 levels on the day.
The second major support level at $230.61 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $237.71
Major Resistance Level: $248.68
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slipped by 0.05% on Sunday. Following a 0.57% gain from Saturday, Ripple’s XRP ended week up by 0.49% to $0.20342.
A bullish start to the day saw Ripple’s XRP strike an early morning intraday high $0.20499 before hitting reverse.
Falling short of the first major resistance level at $0.2055, Ripple’s XRP slid to an early afternoon intraday low $0.19809.
Ripple’s XRP fell through the first major support level at $0.2015 and the second major support level at $0.1993.
Finding support late on bounced back to $0.2030 levels to end the day flat.
At the time of writing, Ripple’s XRP was down by 0.12% to $0.20318. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20375 before falling to a low $0.20305.
Ripple’s XRP left the major support and resistance levels untested early on.
