For the day ahead

Ethereum would need to avoid a fall through the $227 pivot to support a run at the first major resistance level at $230.57.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $229.93.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $229.93 should cap any upside.

Failure to avoid a fall through the $227 pivot would bring the first major support level at $224.14 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$215 levels. The second major support level at $220.60 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $224.14

Major Resistance Level: $230.57

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 0.49% on Sunday. Reversing a 1.09% gain from Saturday, Ripple’s XRP ended the week up by 0.17% to $0.17735.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.17886 before hitting reverse.

Falling short of the first major resistance level at $0.1800, Ripple’s XRP slid to a late intraday low $0.17376.

The reversal saw Ripple’s XRP slide through the first major support level at $0.1764 and the second major support level at $0.1745.

Late in the day, Ripple’s XRP moved back through to $0.177 levels to limit the loss on the day.

At the time of writing, Ripple’s XRP was up by 0.10% to $0.17753. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.17718 to a high $0.17753.

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

(Excerpt) Read more Here | 2020-07-05 17:22:56
Image credit: source

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