For the day ahead
Ethereum would need to avoid a fall through the $402.56 pivot to support a run at the first major resistance level at $417.39.
Support from the broader market would be needed, however, for Ethereum to break out from the Monday’s high $411.97.
Barring an extended crypto rally, the first major resistance level and Monday’s high would likely cap any upside.
Failure to avoid a fall through the $402.56 pivot would bring the first major support level at $393.14 into play.
Barring an extended sell-off, however, Ethereum should continue to steer clear of the 38.2% FIB of $367. The second major support level at $378.31 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $393.14
Pivot Level: $402.56
First Major Resistance Level: $417.39
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 1.38% on Monday. Reversing a 0.42% decline from Sunday, Ripple’s XRP ended the day at $0.2887.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.28238 before making a move.
Steering clear of the first major support level at $0.2791, Ripple’s XRP rallied to a late morning intraday high $0.2920.
Ripple’s XRP broke through the first major resistance level at $0.2895 before falling back to sub-$0.2860 levels.
Finding late support, however, Ripple’s XRP revisited $0.2890 levels before easing back. The first major resistance level pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was up by $0.26% to $0.28945. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28870 before rising to a high $0.28971.
Ripple’s XRP left the major support and resistance levels untested early on.
