For the day ahead
Ethereum would need to move through the $319 pivot to support a run at the first major resistance level at $325.
Support from the broader market would be needed, however, for Ethereum to break back through to $325 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $325.85 should cap any upside.
Failure to move through the $319 pivot would bring the first major support level at $312 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $306.
Looking at the Technical Indicators
First Major Support Level: $312
Pivot Level: $319
First Major Resistance Level: $325
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rallied by 5.57% on Wednesday. Following on from a 2.67% gain on Tuesday, Ripple’s XRP ended the day at $0.2437.
A bullish start to the day saw Ripple’s XRP rally to an early morning high $0.24459 before easing back.
Ripple’s XRP broke through the first major resistance level at $0.2379 before falling to an afternoon low $0.2369.
Finding late support, however, Ripple’s XRP rallied to a late intraday high $0.24988. Ripple’s XRP broke through the first major resistance level and the second major resistance level at $0.2451 before pulling back.
The late pullback saw Ripple’s XRP fall back through the second major resistance level.
At the time of writing, Ripple’s XRP was down by 1.48% to $0.24010. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.24382 to a low $0.24010.
Ripple’s XRP left the major support and resistance levels untested early on.
