For the day ahead
Ethereum would need to avoid a fall through the $239 pivot to support a run at the first major resistance level at $251.05.
Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $246.95.
Barring another extended crypto rally, the first major resistance level at $251.05 should cap any upside.
In the event of another breakout, the 23.6% FIB of $257 will likely come into play.
Failure to avoid a fall through the $239 pivot could see Ethereum spend the day in the red.
A fall through to sub-$240 levels would bring the first major support level at $231.30 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level sits at $219.38.
Looking at the Technical Indicators
Major Support Level: $231.30
Major Resistance Level: $251.05
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 1.91% on Monday. Reversing a 1.19% decline from Sunday, Ripple’s XRP ended the day at $0.18946.
It was a relatively bullish day for Ripple’s XRP. Ripple’s XRP rose from an early morning intraday low $0.18591 to a late intraday high $0.19063.
The breakout saw Ripple’s XRP break through the first major resistance level at $0.1879 and the second major resistance level at $0.1897.
Coming up short of the third major resistance level at $0.1924, Ripple’s XRP slipped back to sub-$0.19.
The second major resistance level at $0.1897 limited the downside late in the day.
At the time of writing, Ripple’s XRP was up by 0.63% to $0.19066. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18943 to a high $0.19067.
Ripple’s XRP left the major support and resistance levels untested early on.
