For the day ahead

Ethereum would need to avoid a fall through the $232.71 pivot to support a run at the first major resistance level at $234.54.

Support from the broader market would be needed, however, for Ethereum to break back through to $234 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $234.55 should cap any upside.

Failure to avoid a fall through the $232.71 pivot would bring the first major support level at $230.86 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$225 levels. The second major support level at $229.03 would come into play in the event of a pullback, however.

Looking at the Technical Indicators

First Major Support Level: $230.86

Pivot Level: $232.71

First Major Resistance Level: $234.54

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.03% on Friday. Following on from a 1.58% slide on Thursday, Ripple’s XRP ended the day at $0.19464.

A bearish start to the day saw Ripple’s XRP fall to a mid-morning intraday low $0.19153 before making a move.

Steering clear of the first major support level at $0.1894, Ripple’s XRP struck a mid-day intraday high $0.19842.

Falling short of the first major resistance level at $0.19785, Ripple’s XRP fell back to sub-$0.1930 levels before finding support.

A late move back through to $0.1940 levels reversed the heavier losses from the day.

At the time of writing, Ripple’s XRP was up by 0.13% to $0.19490. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.19434 before rising to a high $0.19490.

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

(Excerpt) Read more Here | 2020-07-17 17:49:13
Image credit: source

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