For the day ahead
Ethereum would need to move through the $229 pivot to support a run at the first major resistance level at $231.56.
Support from the broader market would be needed, however, for Ethereum to break out from $230 levels.
Barring another extended crypto rally, the first major resistance level and Friday’s high $231.90 should cap any upside.
Failure to move through the $229 pivot could see Ethereum see red for a 4th consecutive day.
A fall through to sub-$229 levels would bring the first major support level at $226.09 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.53 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $226.09
Major Resistance Level: $231.56
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP fell by 1.47% on Friday. Following on from a 1.68% decline on Thursday, Ripple’s XRP ended the day at $0.18722.
Tracking the broader market, Ripple’s XRP slid to an early morning intraday low $0.18663 before making a move.
Ripple’s XRP fell through the first major support level at $0.1878 before striking a late morning intraday high $0.19045.
Falling short of the first major resistance level at $0.1928, Ripple’s XRP slid back to sub-$0.0188 levels.
The first major support level at $0.1878 limited the downside late in the day.
At the time of writing, Ripple’s XRP was down by 0.23% to $0.18679. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18737 to a low $0.18679.
Ripple’s XRP left the major support and resistance levels untested early on.