It's a positive start to the year for the majors. Steering clear of key levels through the morning would support a breakout later in the day.
EOS fell by 1.54% on Tuesday. Following on from a 2.37% slide on Monday, EOS ended the day at $2.5904.
A choppy start to the day saw EOS rise to a mid-morning high $2.6523 before falling to a late morning low $2.6012.
Steering clear of the major support and resistance levels, EOS struck an early afternoon intraday high $2.6591 before hitting reverse.
Falling short of the first major resistance level at $2.7025, EOS slid to a late intraday low $2.5723.
EOS fell through the first major support level at $2.5847 before wrapping up the day at $2.59 levels.
At the time of writing, EOS was up by 0.94% to $2.6148. A bullish start to the day saw EOS rise from an early morning low $2.5794 to a high $2.6348.
EOS left the major support and resistance levels untested early on.
EOS would need to steer clear of sub-$2.61 levels to support a run at the first major resistance level at $2.6422.
Support from the broader market would be needed, however, for EOS to break back through the morning high $2.6348.
Barring an extended broad-based crypto rally, the first major resistance level at $2.6422 would likely limit any upside later the day.
Failure to steer clear of sub-$2.61 levels would bring the first major support level at $2.5554 into play.
Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.5205.
Major Support Level: $2.5554
Major Resistance Level: $2.6422
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum fell by 1.94% on Tuesday. Following on from a 2.39% slide on Monday, Ethereum ended the day at $128.54.
A mixed start to the day saw Ethereum rise from an early morning low $130.31 to a mid-morning high $132.54 before easing back.
Steering clear of the major support and resistance levels, Ethereum struck an early afternoon intraday high $133.19.
Falling short of the first major resistance level at $134.78, Ethereum slid to a late intraday low $127.60.
Ethereum fell through the first major support level at $128.60 before steadying. While finding late support, however, Ethereum was unable to break back through the first major support level.
At the time of writing, Ethereum was up by 0.95% to $129.76. A bullish start to the day saw Ethereum rise from an early morning low $128.12 to a high $130.50 before easing back.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through to $130 levels to support a run at the first major resistance level at $131.95.
Support from the broader market would be needed for Ethereum to break back through the morning high $130.5.
Barring a broad-based crypto rally, however, the first major resistance level would likely limit any upside.
In the event of an extended rally, the second major resistance level at $135.37 could come into play before any pullback.
Failure to move through to $130 levels could see Ethereum hit reverse. A pullback through the morning low to $128.12 would bring the first major support level at $126.36 into play.
Barring a crypto sell-off, however, Ethereum should steer clear of the second major support level at $124.19.
Major Support Level: $126.36
Major Resistance Level: $131.95
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP slipped by 0.09% on Tuesday. Following on from a 1.78% fall on Monday, Ripple’s XRP ended the day at $0.19332.
A bullish start to the day saw Ripple’s XRP rally to an early morning high $0.19443 before falling back to sub-$0.192 levels.
Steering clear of the first major support level at $0.1912, Ripple’s XRP struck an early afternoon intraday high $0.19476.
Falling short of the first major resistance level at $0.1971, Ripple’s XRP slid to a late intraday low $0.19011.
Ripple’s XRP fell through the first major support level at $0.1912 before wrapping up the day at $0.1930 levels.
At the time of writing, Ripple’s XRP was up by 0.47% to $0.19422. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19242 to a high $0.19496 before easing back.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to steer clear of sub-$0.1930 levels support a run at the first major resistance level at $0.1954.
Support from the broader market would be needed, however, for Ripple’s XRP to break through the morning high $0.19496.
Barring an extended rally through the day, the first major resistance level and the morning high $0.19496 would likely limit any upside.
Failure to steer clear of sub-$0.1930 levels could see Ripple’s XRP struggle later in the day.
A fall through the morning low $0.19242 would bring the first major support level at $0.1907 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of the second major support level at $0.1881.
Major Support Level: $0.1907
Major Resistance Level: $0.1954
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.