For the day ahead
Ethereum would need to move through to $155.5 levels to support a run at the first major resistance level at $158.79.
Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $153.76.
Barring an extended crypto rally, resistance at $155 would likely leave Ethereum short of the first major resistance level.
Failure to move back through to $155.5 levels could see Ethereum fall back into the red.
A fall through the first major support level at $149.46 would bring $148 levels into play before any recovery.
Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $146.15.
Looking at the Technical Indicators
Major Support Level: $149.46
Major Resistance Level: $158.79
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 2.73% on Wednesday. Following on from a 0.89% decline on Tuesday, Ripple’s XRP ended the day at $0.18092.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.18980 before hitting reverse.
Coming up against the first major resistance level at $0.1893, Ripple’s XRP slid to a final hour intraday low $0.18024.
Ripple’s XRP fell through the first major support level at $0.1833 to find support at the second major support level at $0.1804.
At the time of writing, Ripple’s XRP was down by 1.50% to $0.17820. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18089 to a low $0.17426.
Steering clear of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.1775.
