For the day ahead
Ethereum would need to move through to $242 levels to support a run at the first major resistance level at $245.74.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $240.04.
Barring a broad-based crypto rally, the first major resistance level and Thursday’s high should cap any upside.
Failure to move through to $242 levels could see Ethereum see a 3rd consecutive day in the red.
A fall back through the morning low $237.67 would bring the first major support level at $236.49 into play.
Barring an extended crypto sell-off, however, Ethereum should continue to steer clear sub-$230 levels on the day.
The second major support level at $232.95 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $236.49
Major Resistance Level: $245.74
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 0.81% on Friday. Following a flat Thursday, Ripple’s XRP ended the day at $0.20261.
A relatively bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $0.20582 before hitting reverse.
Falling short of the first major resistance level at $0.2079, Ripple’s XRP slid to a mid-afternoon intraday low $0.20124.
Steering clear of the first major support level at $0.1999, Ripple’s XRP recovered to a high $0.20481 before falling back into the red.
At the time of writing, Ripple’s XRP was down by 0.32% to $0.20196. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.20256 to a low $0.20104.
Ripple’s XRP left the major support and resistance levels untested early on.