For the day ahead
Ethereum would need to avoid a fall through the $317 pivot to support a run at the first major resistance level at $327.86.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $327.34.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high should cap any upside.
Failure to avoid a fall through the $317 pivot would bring the first major support level at $306.81 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The first major support level should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $306.81
Pivot Level: $317
First Major Resistance Level: $327.86
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 2.67% on Tuesday. Following on from a 4.33% rally on Monday, Ripple’s XRP ended the day at $0.23070.
It was a mixed start to the day, with Ripple’s XRP rising to an early morning high $0.22698 before hitting reverse.
Falling short of the first major resistance level at $0.2333, Ripple’s XRP slid to a late morning intraday low $0.21773.
Steering clear of the first major support level at $0.2127, Ripple’s XRP rallied to a late intraday high $0.23499.
Ripple’s XRP broke back through the first major resistance level at $0.2333 before sliding back to sub-$0.23 levels.
Finding late support, however, Ripple’s XRP wrapped up the day at $0.23 levels for the 1st time since March.
At the time of writing, Ripple’s XRP was up by 0.87% to $0.23271. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23085 to a high $0.23271.
Ripple’s XRP left the major support and resistance levels untested early on.