For the day ahead

Ethereum would need to avoid a fall through the $317 pivot to support a run at the first major resistance level at $327.86.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $327.34.

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

Failure to avoid a fall through the $317 pivot would bring the first major support level at $306.81 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The first major support level should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $306.81

Pivot Level: $317

First Major Resistance Level: $327.86

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 2.67% on Tuesday. Following on from a 4.33% rally on Monday, Ripple’s XRP ended the day at $0.23070.

It was a mixed start to the day, with Ripple’s XRP rising to an early morning high $0.22698 before hitting reverse.

Falling short of the first major resistance level at $0.2333, Ripple’s XRP slid to a late morning intraday low $0.21773.

Steering clear of the first major support level at $0.2127, Ripple’s XRP rallied to a late intraday high $0.23499.

Ripple’s XRP broke back through the first major resistance level at $0.2333 before sliding back to sub-$0.23 levels.

Finding late support, however, Ripple’s XRP wrapped up the day at $0.23 levels for the 1st time since March.

At the time of writing, Ripple’s XRP was up by 0.87% to $0.23271. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23085 to a high $0.23271.

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

(Excerpt) Read more Here | 2020-07-28 17:17:08
Image credit: source


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