For the day ahead
Ethereum would need to move through the $383.97 pivot to support a run at the first major resistance level at $396.43.
Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $400 would likely cap any upside.
Failure to move through the $383.97 pivot would bring the first major support level at $370.78 and 38.2% FIB of $367 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $358.32.
Looking at the Technical Indicators
First Major Support Level: $378.78
Pivot Level: $383.97
First Major Resistance Level: $396.43
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slid by 4.37% on Thursday. Reversing a 0.05% gain from Wednesday, Ripple’s XRP ended the day at $0.2645.
It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.27836 before hitting reverse.
Falling short of the first major resistance level at $0.2802, Ripple’s XRP slid to a late afternoon intraday low $0.25355.
The sell-off saw Ripple’s XRP slide through the day’s major support levels before partially recovering to $0.26 levels.
The partial recovery saw Ripple’s XRP break back through the third major support level at $0.2637.
At the time of writing, Ripple’s XRP was down by 0.77% to $0.26247. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.26499 to a low $0.26181.
Ripple’s XRP left the major support and resistance levels untested early on.