For the day ahead
Ethereum would need to move through to $163 levels to support a run at the first major resistance level at $167.31.
Support from the broader market would be needed, however, for Ethereum to break back through to $160 levels.
Barring a broad-based crypto rebound, Ethereum will likely fall well short of $165 levels on the day.
In the event of a rebound, the first major resistance at $167.31 and Thursday high $167.79 would likely limit any upside.
Failure to move back through to $163 levels could see Ethereum spend the day in the red.
A fall through the first major support level at $157.96 would bring $155 levels into play before any recovery.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $153.53.
Looking at the Technical Indicators
Major Support Level: $157.96
Major Resistance Level: $167.31
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP slid by 4.71% on Thursday. Following on from a 0.12% decline on Wednesday, Ripple’s XRP ended the day at $0.22583.
Tracking the broader market, Ripple’s XRP slid from an early morning intraday high $0.23725 to a late intraday low $0.22077.
Ripple’s XRP fell through the first major support level at $0.2327 and the second major support level at $0.2285.
Finding support at the third major support level at $0.2206, Ripple’s XRP recovered to $0.2260 levels before easing back.
Ripple’s XRP failed to break back through the major support levels late on.
At the time of writing, Ripple’s XRP was down by 1.96% to $0.22141. A mixed start to the day saw Ripple’s XRP rise to an early high $0.22628 before sliding to a low $0.21771.
Ripple’s XRP fell through the first major support level at $0.2187 before recovering to $0.22 levels.