For the day ahead
Ethereum would need to avoid a fall back through the $231.50 pivot to support a run at the first major resistance level at $236.00.
Support from the broader market would be needed, however, for Ethereum to break out from $235 levels.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $235.24 should cap any upside.
In the event of another breakout, expect a run at the second major resistance level at $239.72 and $240 levels before any pullback.
Failure to avoid a fall through the $231.50 pivot could see Ethereum spend yet another day in the red.
A fall through to sub-$230 levels would bring the first major support level at $227.81 into play.
Barring another extended sell-off, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.34 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $227.81
Major Resistance Level: $236.00
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP fell by 1.02% on Thursday. Following on from a 2.91% slide on Wednesday, Ripple’s XRP ended the day at $0.18171.
It was also a bullish start to the day for Ripple’s XRP. Ripple’s XRP rallied to an early morning intraday high $0.18425 before hitting reverse.
Falling well short of the first major resistance level at $0.1890, Ripple’s XRP tumbled to an early morning intraday low $0.17869.
Ripple’s XRP fell through the first major support level at $0.1800 before bouncing back to $0.18400 levels.
Through the 2nd half of the day, it was also relatively range-bound, with resistance at $0.1840 pinning Ripple’s XRP back.
In spite of a late fall to a low $0.18101, ripple’s XRP avoided a fall back through the first major support level at $0.1800.
At the time of writing, Ripple’s XRP was down by 0.20% to $0.18134. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18154 to a low $0.18134.
Ripple’s XRP left the major support and resistance levels untested early on.