For the day ahead
Ethereum would need to avoid a fall back through the $231 pivot to support a run at the first major resistance level at $234.58.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $234.50.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $234.5 should cap any upside.
Failure to avoid a fall through the $231 pivot could see Ethereum take another hit on the day.
A fall through to sub-$230 levels would bring the first major support level at $227.45 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.84 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $227.45
Major Resistance Level: $234.58
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP fell by 1.68% on Thursday. Reversing a 0.44% gain on Wednesday, Ripple’s XRP ended the day at $0.19004.
Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.19328 before hitting reverse.
Falling short of the first major resistance level at $0.1987, Ripple’s XRP slid to a late intraday low $0.18837.
Steering clear of the first major support level at $0.1882, Ripple’s XRP recovered to $0.19 levels to limit the loss on the day.
At the time of writing, Ripple’s XRP was up by 0.05% to $0.19013. A choppy start to the day saw Ripple’s XRP fall to an early morning low $0.18982 before rising to a high $0.19020.
Ripple’s XRP left the major support and resistance levels untested early on.