For the day ahead

Ethereum would need to avoid a fall through the $368.37 pivot to support a run at the first major resistance level at $380.94.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $375.38.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $368.37 pivot would bring the 38.2% FIB of $367 and the first major support level at $361.37 into play.

Barring an extended sell-off, however, Ethereum should continue to avoid sub-$350 levels. The second major support level sits at $348.8.

Looking at the Technical Indicators

First Major Support Level: $361.37

Pivot Level: $368.37

First Major Resistance Level: $380.94

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 0.19% on Friday. Partially reversing a 1.82% gain from Thursday, Ripple’s XRP ended the day at $0.24276.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.24452 before hitting reverse.

Falling short of the first major resistance level at $0.2483, Ripple’s XRP fell to an early morning intraday low $0.23701.

Ripple’s XRP fell through the first major support level at $0.2387 before finding support.

Through the 2nd half of the day, Ripple’s XRP revisited $0.244 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.42% to $0.24173. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24290 to a low $0.24156.

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

(Excerpt) Read more Here | 2020-09-11 19:37:20
Image credit: source

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