For the day ahead
Ethereum would need to avoid a fall through the $229.30 pivot to support a run at the first major resistance level at $234.50.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $232.77.
Barring another extended crypto rally, the first major resistance level at $234.88 should cap any upside.
Failure to avoid a fall through the $229.30 pivot would bring the first major support level at $225.84 into play.
Barring another extended sell-off, Ethereum should steer clear of sub-$215 levels. The second major support level at $220.64 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $225.84
Major Resistance Level: $234.50
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 0.77% on Wednesday. Partially reversing a 1.07% fall from Tuesday, Ripple’s XRP ended the day at $0.17666.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.17400 before making a move.
Finding support at the first major support level at $0.1745, Ripple’s XRP rallied to a late afternoon intraday high $0.17840.
Ripple’s XRP broke through the first major resistance level at $0.1774 before sliding back to sub-$0.1760 levels.
A late recovery saw Ripple’s XRP move back through to $0.1777 levels before easing back. The first major resistance level capped the upside late on.
At the time of writing, Ripple’s XRP was up by 0.15% to $0.17693. A mixed start to the day saw fall to an early morning low $0.17636 before rising to a high $0.17700.
Ripple’s XRP tested the first major support level at $0.1745 early on.