For the day ahead

Ethereum would need to move through the 38.2% FIB of $367 and the $370.19 pivot to support a run at the first major resistance level at $386.8.

Support from the broader market would be needed, however, for Ethereum to break out from the 38.2% FIB.

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

Failure to move through the 38.2% FIB and the $370.19 pivot would bring the first major support level at $350.0 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $333.36.

Looking at the Technical Indicators

First Major Support Level: $350.0

Pivot Level: $370.19

First Major Resistance Level: $386.80

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 2.39% on Sunday. Reversing a 1.90% gain from Saturday, Ripple’s XRP ended the week up by 1.02% to $0.24207.

It was a bullish start to the day. Ripple’s XRP rose to an early morning intraday high $0.25336 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2507 before sliding to a late afternoon intraday low $0.23778. The second major resistance level at $0.2540 pinned Ripple’s XRP back early in the day.

The sell-off saw Ripple’s XRP fall through the first major support level at $0.2423 before finding support.

Late in the day, Ripple’s XRP moved back through to $0.2420 levels to limit the downside on the day.

At the time of writing, Ripple’s XRP was down by 0.20% to $0.24158. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24207 to a low $0.23903.

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

(Excerpt) Read more Here | 2020-09-13 19:15:12
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.