For the day ahead
Ethereum would need to move the $234.11 pivot to support a run at the first major resistance level at $238.46.
Support from the broader market would be needed, however, for Ethereum to break back through to $235 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $239.16 should cap any upside.
Failure to move through the $234.11 pivot would bring the first major support level at $229.07 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$220 levels. The second major support level at $224.72 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $229.07
Pivot Level: $234.11
Major Resistance Level: $238.46
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 1.58% on Thursday. Following on from a 0.92% drop on Wednesday, Ripple’s XRP ended the day at $0.19436.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.19772 before hitting reverse.
Falling short of the first major resistance level at $0.1978, Ripple’s XRP slid to a late morning intraday low $0.18857.
Ripple’s XRP fell through the day’s major support levels before finding support late in the day. A recovery to $0.1930 levels saw Ripple’s XRP break back through the third major support level at $0.1908. The second major support level at $0.1944 pinned Ripple’s XRP back.
At the time of writing, Ripple’s XRP was up by 0.01% to $0.19437. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.19478 before falling to a low $0.19437.
Ripple’s XRP left the major support and resistance levels untested early on.