For the day ahead
Ethereum would need to move through the $242.24 pivot to support a run at the first major resistance level at $247.43.
Support from the broader market would be needed, however, for Ethereum to break back through to $247 levels.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $247.67 should cap any upside.
Failure to move through the $242.24 pivot would bring the first major support level at $236.80 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $231.61 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $236.80
Major Resistance Level: $247.43
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP fell by 1.13% on Thursday. Partially reversing Wednesday’s 10.98% breakout, Ripple’s XRP ended the day at $0.20276.
A bearish start saw Ripple’s XRP fall to an early morning low $0.19785 before making a move.
Steering clear of the first major support level at $0.1910, Ripple’s XRP rallied to a mid-day intraday high $0.21199.
Falling short of the first major resistance level at $0.2138, Ripple’s XRP slid to a late afternoon intraday low $0.19718.
Steering clear of the first major support level, Ripple’s XRP recovered to $0.2020 levels to limit the downside.
At the time of writing, Ripple’s XRP was down by 0.66% to $0.20143. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.20286 to a low $0.20142.
Ripple’s XRP left the major support and resistance levels untested early on.