For the day ahead

Ethereum would need to break back through the first major resistance level at $245.99 to support a run at $250 levels.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $249.00.

Barring an extended crypto rally, Ethereum would likely come up short of the second major resistance level at $254.00.

Failure to move through the first major resistance level could see Ethereum give up the early gains.

A fall back through the morning low $237.95 to sub-$232 levels would bring the first major support level at $223.90 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$230 levels.

Looking at the Technical Indicators

Major Support Level: $223.90

Major Resistance Level: $245.99

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 2.75% on Tuesday. Partially reversing a 3.16% slide from Monday, Ripple’s XRP ended the day at $0.28102.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.26720 before finding support.

Steering clear of the first major support level at $0.2662, Ripple’s XRP rallied to a late afternoon intraday high $0.28323.

Ripple’s XRP broke through the first major resistance level at $0.2819 before falling back to sub-$0.28 levels.

In spite of a late move back through to $0.28 levels, the first major resistance level capped the upside on the day.

At the time of writing, Ripple’s XRP was up by 1.35% to $0.28480. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.28102 to a high $0.28725.

Steering clear of the major support levels, Ripple’s XRP came up against the first major resistance level at $0.2871.

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