For the day ahead
Ethereum would need to move through to $201.80 levels to bring the first major resistance level at $207.87 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $206.25.
Barring a broad-based crypto rebound, resistance at $205 would likely leave Ethereum short of the major resistance levels.
Failure to move back through to $201.80 levels could see Ethereum take a bigger hit.
A fall back through the first major support level would bring the second major support level at $191.23 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$190 levels.
Looking at the Technical Indicators
Major Support Level: $197.32
Major Resistance Level: $207.87
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 0.96% on Thursday. Following a 2.53% gain on Wednesday, Ripple’s XRP ended the day at $0.20406.
A mixed start to the day saw Ripple’s XRP fall to a mid-morning intraday low $0.19809 before finding support.
Steering clear of the first major support level at $0.1971, Ripple’s XRP rallied to a late morning intraday high $0.20642.
Ripple’s XRP broke through the first major resistance level at $0.2055 before sliding back into the red.
Finding support late in the day, however, Ripple’s XRP recovered to end the day in the green.
At the time of writing, Ripple’s XRP was down by 2.05% to $0.19988. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.20484 to a low $0.19695.
Ripple’s XRP fell through the first major support level at $0.1993 before finding support.
