For the day ahead

Ethereum would need to avoid a fall through the $239 pivot to support a run at the first major resistance level at $251.05.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $246.95.

Barring another extended crypto rally, the first major resistance level at $251.05 should cap any upside.

In the event of another breakout, the 23.6% FIB of $257 will likely come into play.

Failure to avoid a fall through the $239 pivot could see Ethereum spend the day in the red.

A fall through to sub-$240 levels would bring the first major support level at $231.30 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level sits at $219.38.

Looking at the Technical Indicators

Major Support Level: $231.30

Major Resistance Level: $251.05

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 1.91% on Monday. Reversing a 1.19% decline from Sunday, Ripple’s XRP ended the day at $0.18946.

It was a relatively bullish day for Ripple’s XRP.  Ripple’s XRP rose from an early morning intraday low $0.18591 to a late intraday high $0.19063.

The breakout saw Ripple’s XRP break through the first major resistance level at $0.1879 and the second major resistance level at $0.1897.

Coming up short of the third major resistance level at $0.1924, Ripple’s XRP slipped back to sub-$0.19.

The second major resistance level at $0.1897 limited the downside late in the day.

At the time of writing, Ripple’s XRP was up by 0.63% to $0.19066. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18943 to a high $0.19067.

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

(Excerpt) Read more Here | 2020-06-22 17:19:01
Image credit: source


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