For the day ahead
Ethereum would need to avoid a fall through the $242.90 pivot to support a run at the first major resistance level at $245.04.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $244.80.
Barring another extended crypto rally, the first major resistance level at $245.04 and Tuesday’s high should cap any upside.
In the event of another breakout, expect a breakthrough the second major resistance level at $246.95 to bring $250 into play.
Failure to avoid a fall through the $242.90 pivot could see Ethereum spend the day in the red.
A fall through to sub-$242 levels would bring the first major support level at $240.97 into play.
In the event of an extended sell-off, however, expect the second major support level at $238.81 to come into play.
Looking at the Technical Indicators
Major Support Level: $240.97
Major Resistance Level: $245.04
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 0.15% on Tuesday. Following a 1.91% on Monday, Ripple’s XRP ended the day at $0.18915.
It was a choppy start to the day for Ripple’s XRP. Ripple’s XRP rose to an early morning intraday high $0.19067 before hitting reverse.
Falling short of the first major resistance level at $0.1914, Ripple’s XRP fell to a late morning intraday low $0.18851.
Steering well clear of the first major support level at $0.1867, Ripple’s XRP recovered to a late high $0.19014.
A return to $0.19 levels was brief, however, with Ripple’s XRP seeing a late pullback to end the day in the red.
At the time of writing, Ripple’s XRP was up by 0.09% to $0.18932. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18918 before rising to a high $0.18941.
Ripple’s XRP left the major support and resistance levels untested early on.