For the day ahead

Ethereum would need to move through the $239.3 pivot to support a run at the first major resistance level at $243.94.

Support from the broader market would be needed, however, for Ethereum to break out Tuesday’s high $243.82.

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

Failure to move through the $239.30 pivot would bring the first major support level at $234.67 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level sits at $229.98.

Looking at the Technical Indicators

Major Support Level: $234.67

Major Resistance Level: $243.94

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 1.93% on Tuesday. Partially reversing a 6.66% rally from Monday, Ripple’s XRP ended the day at $0.18543

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.18999 before hitting reverse.

Falling short of the first major resistance level at $0.1934, Ripple’s XRP slid to a late intraday low $0.18320.

Steering clear of the first major support level at $0.1806, Ripple’s XRP recovered to $0.1850 levels to limit the downside.

At the time of writing, Ripple’s XRP was down by 0.26% to $0.18495. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18539 to a low $0.18495.

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

(Excerpt) Read more Here | 2020-07-07 17:22:30
Image credit: source


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