For the day ahead
Ethereum would need to move through to $163 levels to support a run at the first major resistance level at $166.18
Support from the broader market would be needed, however, for Ethereum to break back through to $165 levels.
Barring a broad-based crypto rebound, Ethereum will likely fall well short of $166 levels on the day.
In the event of a rebound, the first major resistance at $166.18 would likely limit any upside.
Failure to move back through to $163 levels could see Ethereum remain in the red.
A fall through to sub-$160.30 levels would bring the first major support level at $156.45 into play before any recovery.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $150.60.
Looking at the Technical Indicators
Major Support Level: $156.45
Major Resistance Level: $166.18
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP fell by 1.53% on Friday. Following a 4.71% slide on Thursday, Ripple’s XRP ended the day at $0.22242.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.22628 before hitting reverse.
Falling short of the first major resistance level at $0.2351, Ripple’s XRP slid to a late morning intraday low $0.21411.
Ripple’s XRP fell through the first major support level at $0.2187 before recovering to $0.225 levels.
Pressure through the latter part of the day, however, led to a pullback to leave Ripple’s XRP deep in the red at the day end.
At the time of writing, Ripple’s XRP was down by 0.58% to $0.22114. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22278 before falling to a low $0.22069.
Ripple’s XRP left the major support and resistance levels untested early on.