For the day ahead
Ethereum would need to move through to $205 levels to bring the first major resistance level at $207.59 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $203.99
Barring an extended crypto rally, the first major resistance level would likely leave Ethereum short of $210 levels.
Failure to move through to $205 levels could see Ethereum give up the early gains.
A fall back through to sub-$203 levels would bring the first major support level at $194.56 into play before any recovery.
Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $189.85.
Looking at the Technical Indicators
Major Support Level: $194.56
Major Resistance Level: $207.59
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP slid by 2.29% on Wednesday. Following on from a 0.55% fall on Tuesday, Ripple’s XRP ended the day at $0.21198.
Recovering from an early morning low $0.21469, Ripple’s XRP struck a late morning intraday high $0.22241 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.2218 before sliding to a final hour intraday low $0.21000.
The reversal saw Ripple’s XRP slide through the first major support level at $0.2124.
At the time of writing, Ripple’s XRP was up by 1.39% to $0.21492. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20981 before striking a high $0.21492.
Ripple’s XRP left the major support and resistance levels untested early on.