It's a bullish start to the day with resistance levels in play. A move back through early highs will be needed, however, to avoid a reversal...
EOS rose by just 0.08% on Saturday. Following on from a 7.43% rally on Friday, EOS ended the day at $2.6529.
A mixed start to the day saw EOS fall to an early morning low $2.6320 before striking a mid-morning intraday high $2.6718.
Falling short of the first major resistance level at $2.7414, EOS fell back to a late afternoon intraday low $2.6299.
Steering clear of the first major support level at $2.4996, EOS found late support to close out the day in the green.
At the time of writing, EOS was up by 1.55% to $2.6939. A bullish start to the day saw EOS rise from an early morning low $2.6601 to a high $2.7154.
EOS broke through the first major resistance level at $2.6732 and the second major resistance level at $2.6934 early on.
EOS would need to move back through to $2.70 levels to support another run at the third major resistance level at $2.7353.
Support from the broader market would be needed, however, for EOS to break through the morning high $2.7154.
Barring an extended broad-based crypto rally, resistance at $2.70 would likely limit any upside on the day.
Failure to move through to $2.70 levels could see EOS hit reverse. A fall back through to the major resistance levels would bring $2.65 levels into play before any recovery.
Barring a crypto meltdown, however, EOS should steer clear of sub-$2.60 levels. The first major support level at $2.6313 and the second major support level at $2.6096 should limit any downside.
Major Support Level: $2.6313
Major Resistance Level: $2.6732
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum slipped by 0.02% on Saturday. Following a 5.80% rally on Friday, Ethereum ended the day at $134.14.
A bearish start to the day saw Ethereum fall to a mid-day intraday low $132.5 before finding support.
Steering clear of the first major support level at $128.15, Ethereum rallied to a late afternoon intraday high $135.75.
Falling short of the first major resistance level at $137.56, Ethereum fell back to $132 levels before finding late support to close out at $134 levels.
At the time of writing, Ethereum was up by 1.02% to $135.51. A bullish start to the day saw Ethereum rally from an early morning low $134.14 to a high $135.90.
Ethereum broke through the first major resistance level at $135.76 before easing back.
Ethereum would need to break back through to the first major resistance level to support a run at $137 levels.
Support from the broader market would be needed for Ethereum to break out from the morning high $135.90.
Barring a broad-based crypto rally, however, resistance at $135 would likely continue to limit any upside on the day.
In the event of an extended rally, Ethereum could eye $140 levels before any pullback.
Failure to move back through the first major resistance level could see Ethereum hit reverse. A pullback through the morning low to sub-$134 levels would bring the first major support level at $132.51 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of sub-$130 levels.
The second major resistance level at $130.88 should limit any downside on the day.
Major Support Level: $132.51
Major Resistance Level: $135.76
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP fell by 0.26% on Saturday. Following a 3.16% gain from Friday, Ripple’s XRP ended the day at $0.19352.
A mixed start to the day saw Ripple’s XRP strike an early morning intraday high $0.19464 before hitting reverse.
Falling short of the first major resistance level at $0.1976, Ripple’s XRP fell to a late afternoon intraday low $0.19167.
Steering clear of the first major support level at $0.1879, Ripple’s XRP found support late on to limit the loss on the day.
At the time of writing, Ripple’s XRP was up by 0.86% to $0.19519. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19351 to a high $0.19626.
Ripple’s XRP broke through the first major resistance level at $0.1949 to come up against the second major resistance level at $0.1962.
Ripple’s XRP will break through the second major resistance level to bring the third major resistance level at $0.1992 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.1960 levels.
Barring an extended rally through the day, the second major resistance level would likely limit any upside.
Failure to move through the morning high $0.19626 could see Ripple’s XRP hit reverse.
A fall through the first major resistance level to sub-$0.1930 levels would bring the first major support level at $0.1919 into play.
Barring a crypto meltdown, however, Ripple’s XRP should continue to steer of sub-$0.19 levels.
The second major support level at $0.1903 should limit any downside on the day.
Major Support Level: $0.1919
Major Resistance Level: $0.1949
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
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.