For the day ahead
Ethereum would need to avoid sub-$212 levels to support a run at the first major resistance level at $217.72.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $213.55
Barring an extended crypto rally, the first major resistance level and Friday’s high $217.58 should limit any upside.
Failure to avoid sub-$212 levels could see Ethereum hit reverse.
A fall back through sub-$212 levels would bring the first major support level at $206.32 into play before any recovery.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$200 levels on the day. The second major support level at $200.55 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $206.32
Major Resistance Level: $217.72
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 2.94% on Friday. Partially reversing a 6.49% slide from Thursday, Ripple’s XRP ended the day at $0.21783.
Tracking the broader market, Ripple’s XRP rallied from an early intraday low $0.21121 to a late morning intraday high $0.22445.
Falling short of the first major resistance level at $0.2288, Ripple’s XRP fell back to sub-$0.2140 levels before finding support.
At the time of writing, Ripple’s XRP was up by 0.38% to $0.21700. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.21837 before falling to a slow $0.21622.
Ripple’s XRP left the major support and resistance levels untested early on.
