For the day ahead
Ethereum would need to avoid sub-$215.20 levels to bring the first major resistance level at $225.91 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $224.84.
Barring an extended crypto rally, the first major resistance level would likely limit any upside on the day.
Failure to avoid sub-$215.20 levels could see Ethereum hit reverse.
A fall through the morning low $220.25 to sub-$215.20 levels would bring the first major support level at $209.73 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $199.03.
Looking at the Technical Indicators
Major Support Level: $209.73
Major Resistance Level: $225.91
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 1.37% on Thursday. Following on from a 2.19% gain on Wednesday, Ripple’s XRP ended the day at $0.20082.
Tracking the broader market, Ripple’s XRP fell to a late morning intraday low $0.19509 before finding support.
Steering clear of the first major support level at $0.1943, Ripple’s XRP rallied to a final hour intraday high $0.20142.
Ripple’s XRP broke through the first major resistance level at $0.2015 and second major resistance level at $0.2049 before pulling back.
The pullback saw Ripple’s XRP fall back through the major resistance levels to limit the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.27% to $0.20027. A choppy start to the day saw Ripple’s XRP jump to an early morning high $0.20340 before falling to a low $0.19988.
Ripple’s XRP tested the first major resistance level at $0.2031 early on.
