For the day ahead

Ethereum would need to avoid a fall back through the $231 pivot to support a run at the first major resistance level at $234.58.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $234.50.

Barring another extended crypto rally, the first major resistance level and Thursday’s high $234.5 should cap any upside.

Failure to avoid a fall through the $231 pivot could see Ethereum take another hit on the day.

A fall through to sub-$230 levels would bring the first major support level at $227.45 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.84 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $227.45

Major Resistance Level: $234.58

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 1.68% on Thursday. Reversing a 0.44% gain on Wednesday, Ripple’s XRP ended the day at $0.19004.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.19328 before hitting reverse.

Falling short of the first major resistance level at $0.1987, Ripple’s XRP slid to a late intraday low $0.18837.

Steering clear of the first major support level at $0.1882, Ripple’s XRP recovered to $0.19 levels to limit the loss on the day.

At the time of writing, Ripple’s XRP was up by 0.05% to $0.19013. A choppy start to the day saw Ripple’s XRP fall to an early morning low $0.18982 before rising to a high $0.19020.

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

(Excerpt) Read more Here | 2020-06-18 17:30:13
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.