For the day ahead
Ethereum would need to move through to $128 levels to support a run at the first major resistance level at $129.74.
Support from the broader market would be needed for Ethereum to break back through to $129 levels.
Barring a broad-based crypto rally, however, Saturday’s high $129.6 and first major resistance level would likely limit any upside.
In the event of an extended rally, $130 levels could come into play before any pullback.
Failure to move through to $128 levels could see Ethereum slide deeper into the red. A pullback through the morning low to $126 levels would bring the first major support level at $125.94 into play.
Barring a crypto sell-off, however, Ethereum should steer clear of the second major support level at $123.97.
Looking at the Technical Indicators
Major Support Level: $125.94
Major Resistance Level: $129.74
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 1.54 on Saturday. Following on from a 0.32% gain on Friday, Ripple’s XRP ended the day at $0.19372.
Bullish through the day, Ripple’s XRP rallied from an early morning intraday low $0.19077 to a late intraday high $0.19561.
Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.1928 and the second major resistance level at $0.1947.
A late pullback saw Ripple’s XRP fall back through the second major resistance level to wrap up the day at sub-$0.1940 levels.
At the time of writing, Ripple’s XRP was down by 0.11% to $0.19350. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19397 to a low $0.19350.
Ripple’s XRP left the major support and resistance levels untested early on.
