For the day ahead

Ethereum would need to avoid a fall through the $427.74 pivot to support a run at the first major resistance level at $442.96.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $437.00.

Barring an extended crypto rally, the first major resistance level should continue to cap any upside.

A fall through the $427.74 pivot would bring the first major support level at $418.47 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level at $403.25 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $418.47

Pivot Level: $427.74

First Major Resistance Level: $442.96

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 1.93% on Sunday. Reversing a 0.55% loss from Saturday, Ripple’s XRP ended the week up by 5.71% to $0.30467.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.3048 before hitting reverse.

Falling short of the first major resistance level at $0.3061, Ripple’s XRP fell to a mid-day intraday low $0.2920

Steering clear of the first major support level at $0.2912, Ripple’s XRP recovered to $0.30 levels to end the day in the green.

At the time of writing, Ripple’s XRP was down by 1.21% to $0.30099. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.30598 before sliding to a low $0.30099.

Ripple’s XRP left the major support and resistance levels untested early on.

(Excerpt) Read more Here | 2020-08-16 17:26:11
Image credit: source

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