For the day ahead
Ethereum would need to avoid sub-$206 levels to bring the first major resistance level at $211.01 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $208.50.
Barring an extended crypto rally, resistance at $210 would likely leave Ethereum short of the first major resistance level.
Failure to avoid sub-$206 levels could see Ethereum fall deeper into the red.
A fall through the morning low $207.20 to sub-$206 levels would bring the first major support level at $203.29 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $198.16.
Looking at the Technical Indicators
Major Support Level: $203.29
Major Resistance Level: $211.01
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 2.19% on Wednesday. Reversing a 1.20% fall from Tuesday, Ripple’s XRP ended the day at $0.19810.
Tracking the broader market, Ripple’s XRP rallied from an early morning intraday low $0.19385 to a late morning intraday high $0.20109.
Ripple’s XRP broke through the first major resistance level at $0.1965 and the second major resistance level at $0.1993.
Coming up short of the third major resistance level at $0.2047, Ripple’s XRP fell back through the major resistance levels to a low $0.19613.
Finding support late in the day, Ripple’s XRP broke back through the first major resistance level to wrap up the day at $0.1980 levels.
At the time of writing, Ripple’s XRP was down by 0.21% to $0.19769. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19810 to a low $0.19706.
Ripple’s XRP left the major support and resistance levels untested early on.
