For the day ahead
Ethereum would need to avoid a fall through the $380.68 pivot to support a run at the first major resistance level at $396.16.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $389.57.
Barring an extended crypto rally, the first major resistance level and resistance at $400 should cap any upside.
A fall through the $380.68 pivot would bring the first major support level at $371.78 and the 38.2% FIB of $367 into play.
Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $356.30.
Looking at the Technical Indicators
First Major Support Level: $371.78
Pivot Level: $380.68
First Major Resistance Level: $396.16
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 0.21% on Wednesday. Following on from Tuesday’s 4.02% slide, Ripple’s XRP ended the day at $0.28233.
Tracking the broader market, Ripple’s XRP fell a mid-morning intraday low $0.27205 before making a move.
Steering clear of the first major support level at $0.2647, Ripple’s XRP rose to a late morning intraday high $0.28755.
Falling well short the first major resistance level at $0.3043, Ripple’s XRP fell back to sub-$0.28 levels before finding late support.
In spite of the late recovery, however, Ripple’s XRP failed to move back into the green.
At the time of writing, Ripple’s XRP was up by 0.24% to $0.2830. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28167 before rising to a high $0.28305.
Ripple’s XRP left the major support and resistance levels untested early on.