For the day ahead
Ethereum would need to avoid sub-$127 levels to support a run at the first major resistance level at $129.78.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $127.40.
Barring an extended crypto rally, the first major resistance level at $129.78 and resistance at $130 would likely limit any upside.
Failure to avoid sub-$127 levels could see Ethereum struggle later in the day.
A fall through to sub-$125 levels would bring the first major support level at $121.32 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $118.29.
Looking at the Technical Indicators
Major Support Level: $121.32
Major Resistance Level: $129.78
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP tumbled by 7.34% on Sunday. Reversing a 1.72% gain from Saturday, Ripple’s XRP ended the week up by 10.28% to $0.16300.
Tracking the broader market, Ripple’s XRP fell from an early morning intraday high $0.17701 to a late intraday low $0.16207.
Ripple’s XRP fell through the first major support level at $0.1682 before finding late support.
A partial recovery to $0.1630 levels was of little consolation on the day, however.
At the time of writing, Ripple’s XRP was up by 2.88% to $0.16770. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.16300 to a high $0.16834.
Ripple’s XRP left the major support and resistance levels untested early on.