For the day ahead
Ethereum would need to move through the $230 pivot to support a run at the first major resistance level at $232.69.
Support from the broader market would be needed, however, for Ethereum to break back through to $230 levels.
Barring another extended crypto rally, the first major resistance level and Friday’s high $233.25 should cap any upside.
In the event of another breakout, expect a run at the second major resistance level at $235.95 before any pullback.
Failure to move through the $230 pivot could see Ethereum spend yet another day in the red.
A fall through to sub-$228 levels would bring the first major support level at $226.74 into play.
Barring another extended sell-off, Ethereum should steer clear of sub-$220 levels. The second major support level at $224.05 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $226.74
Major Resistance Level: $232.69
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 0.63% on Friday. Partially reversing a 1.02% fall from Thursday, Ripple’s XRP ended the day at $0.18269.
It was a particularly choppy start to the day for Ripple’s XRP. Ripple’s XRP rose to an early morning high $0.18369 before sliding to an early morning intraday low $0.17860.
Falling short of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.17890.
Steering clear of $0.1750, Ripple’s XRP rallied to an early afternoon intraday high $0.18677 before sliding back.
Ripple’s XRP broke through the first major resistance level at $0.1844, before falling back to $0.1812 levels.
Finding late support, Ripple’s XRP revisited $0.1840 levels before easing back. The first major resistance level at $0.1844 pinned Ripple’s XRP late in the day.
At the time of writing, Ripple’s XRP was down by 0.42% to $0.18193. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18278 to a low $0.18195.
Ripple’s XRP left the major support and resistance levels untested early on.