For the day ahead
Ethereum would need to avoid a fall through the $232.70 pivot to support a run at the first major resistance level at $237.97.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $237.0.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high should cap any upside.
Failure to avoid a fall through the $232.70 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 $228.47 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.24 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $228.47
Major Resistance Level: $237.97
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 0.44% on Wednesday. Reversing a 0.08% fall from Tuesday, Ripple’s XRP ended the day at $0.19333.
Tracking the broader market, Ripple’s XRP fell to an early morning low $0.19106 before finding support.
Steering clear of the first major support level at $0.1903, Ripple’s XRP rallied to an early afternoon intraday high $0.19886.
Ripple’s XRP broke through the first major resistance level at $0.1944 and the second major resistance level at $0.1962.
A late sell-off saw Ripple’s XRP slide, however, to an intraday low $0.18838 before finding support.
Falling through the first major support level at $0.1903, Ripple’s XRP found support at the second major support level at $0.1882.
A late recovery saw Ripple’s XRP move back through to $0.1930 levels to wrap up the day in the green.
At the time of writing, Ripple’s XRP was down by 0.17% to $0.19300. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19328 to a low $0.19300.
Ripple’s XRP left the major support and resistance levels untested early on.