For the day ahead
Ethereum would need to avoid a fall through the $365.36 pivot to support a run at the first major resistance level at $380.49. In the early part of the day, Ethereum would also need to avoid a pullback through the 38.2% FIB of $367.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $377.79.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $365.36 pivot would bring the first major support level at $352.93 into play.
Barring an extended sell-off, however, Ethereum should continue to avoid sub-$330 levels. The second major support level at $337.8 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $352.93
Pivot Level: $365.36
First Major Resistance Level: $380.49
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 1.82% on Thursday. Following on from a 1.11% gain on Wednesday, Ripple’s XRP ended the day at $0.24337.
It was also a bullish start to the day. Ripple’s XRP rose from an early morning intraday low $0.23903 to an early afternoon intraday high $0.24858.
Ripple’s XRP broke through the first major resistance level at $0.2437 before easing back.
Coming up against the second major resistance level at $0.2483, Ripple’s XRP fell to a late low $0.2414 before steadying.
A move back through to $0.2430 levels delivered the upside. The first major resistance level pinning Ripple’s XRP back, however.
At the time of writing, Ripple’s XRP was up by 0.26% to $0.2440. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24321 to a high $0.24449.
Ripple’s XRP left the major support and resistance levels untested early on.