For the day ahead
Ethereum would need to move through the $447.27 pivot to support a run at the first major resistance level at $473.95.
Support from the broader market would be needed, however, for Ethereum to break out from $450 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to move through the $447.27 pivot would bring the first major support level at $413.33 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$400 levels and the second major support level at $386.65.
Looking at the Technical Indicators
First Major Support Level: $413.33
Pivot Level: $447.27
First Major Resistance Level: $473.95
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slid by 6.53% on Wednesday. Reversing a 4.97% rally from Tuesday, Ripple’s XRP ended the day at $0.2760.
It was a bullish start to the day. Ripple’s XRP rose to an early morning intraday high $0.30432 before hitting reverse.
Falling short of the first major resistance level at $0.3050, Ripple’s XRP slid to a late morning intraday low $0.26434.
Falling through the first major support level at $0.2802, Ripple’s XRP found support at the second major support level at $0.2650.
Ripple’s XRP briefly revisited $0.28 levels before a 2nd pullback to an afternoon low $0.26732. The first major support level at $0.2802 pinned Ripple’s XRP back.
Steering clear of the second major support level, Ripple’s XRP found late support to wrap up the day at $0.276 levels.
At the time of writing, Ripple’s XRP was down by 0.53% to $0.27454. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.27588 to a low $0.27370.
Ripple’s XRP left the major support and resistance levels untested early on.
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