[ad_1]
For the day ahead
Ethereum is expected to break above the $ 401.29 pivot to support a run at the first major resistance level at $ 432.58.
However, support from the broader market would be needed for Ethereum to break through $ 400.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
Failure to pivot through the $ 401.29 pivot would bring the 38.2% FIB of $ 367 and the first major support level at $ 351.58 into play.
Barring another extended sell-off, however, Ethereum should avoid levels below $ 360. The second major support level is found at $ 320.29.
Looking at the technical indicators
First major support level: $ 351.58
Pivot Level: $ 401.29
First major resistance level: $ 432.58
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Ripple’s XRP
Ripple’s XRP fell 11.35% on Thursday. After a 6.53% decline on Wednesday, Ripple’s XRP ended the day at $ 0.24456.
Following the broader market, Ripple’s XRP climbed to a morning intraday high $ 0.27652 before reversing.
Falling well below the first major resistance level at $ 0.2988, Ripple’s XRP slid to the mid-day low $ 0.25416.
Ripple’s XRP broke through the first major support level at $ 0.2588 before briefly revisiting $ 0.266 levels.
A late selloff, however, saw Ripple’s XRP slide to an intraday low $ 0.23708. Ripple’s XRP broke through the first major support level and second major support level at $ 0.2416.
A late move through the second major support level saw Ripple’s XRP end the day at $ 0.244.
At the time of writing, Ripple’s XRP was up 0.94% to $ 0.24684. A mixed start to the day saw Ripple’s XRP drop to a morning low $ 0.24080 before rising to a high $ 0.24706.
Ripple’s XRP left major support and resistance levels untested at the start.
