It's a mixed start to the day for the majors. A move through early highs by late morning would bring resistance levels back into play.
EOS rallied by 6.32% on Monday. Following on from a 1.14% gain on Sunday, EOS ended the day at $2.8533.
A bullish start to the day saw EOS rally from an early morning intraday low $2.6830 to a late intraday high $2.8601.
Steering clear of the major support levels, EOS broke through the first major resistance level at $2.7612 and the second major resistance level at $2.8318.
At the time of writing, EOS was down by 0.11% to $2.8501. A bullish start to the day saw EOS strike an early morning high $2.8812 before sliding to a low $2.8397.
EOS left the major support and resistance levels untested early on.
EOS would need to move back through the morning high $2.8812 to support another run at the first major resistance level at $2.9146.
Support from the broader market would be needed, however, for EOS to break through to $2.90 levels.
Barring an extended broad-based crypto rally, the first major resistance level at $2.9146 would likely limit any upside on the day.
Failure to move back through to $2.88 levels could see EOS fall deeper into the red. A fall through to sub-$2.83 would bring the first major support level at $2.7375 into play.
Barring a crypto meltdown, however, EOS should steer clear of sub-$2.70 levels.
Major Support Level: $2.7375
Major Resistance Level: $2.9146
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rallied by 6.56% on Monday. Following on from a 0.87% gain from Sunday, Ethereum ended the day at $144.19.
Bullish through the day, Ethereum rallied from an early morning intraday low $134.78 to a late intraday high $144.51.
Steering clear of the major support levels, Ethereum broke through the first major resistance level at $138.14 and second major resistance level at $140.97.
At the time of writing, Ethereum was down by 0.38% to $143.64. A mixed start to the day saw Ethereum rise to an early morning high $145.25 before falling to a low $143.25
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to break back through to $144 levels to support a run at the first major resistance level at $147.54.
Support from the broader market would be needed for Ethereum to break out from Monday’s high $144.51.
Barring a broad-based crypto rally, however, Ethereum would likely come up short of $147 levels on the day.
In the event of an extended rally, Ethereum could eye $150 levels and the second major resistance level at $150.89.
Failure to move back through $144 levels could see Ethereum fall deeper into the red. A pullback through the morning low to sub-$141 levels would bring the first major support level at $137.81 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of sub-$140 levels.
Major Support Level: $137.81
Major Resistance Level: $147.54
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP surged by 14.57% on Monday. Following on from a 0.39% gain on Sunday, Ripple’s XRP ended the day at $0.2230.
Bullish through the day, Ripple’s XRP rallied from an early morning intraday low $0.19461 to a late intraday high $0.22444.
Ripple’s XRP broke through the day’s major resistance levels before easing back to $0.21 levels.
Holding above the third major resistance level at $0.2037, Ripple’s XRP found support late on to wrap up the day at $0.22 levels.
At the time of writing, Ripple’s XRP was down by 0.96% to $0.22087. A mixed start to the day saw Ripple’s XRP rally from an early morning low $0.21937 to a high $0.22555.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move back through to $0.22555 levels to support a run at the first major resistance level at $0.2334.
Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.2300 levels.
Barring an extended rally through the day, resistance at $0.2300 would likely limit any upside on the day.
In the event of another broad-based crypto rally, a visit to $0.24 levels and the second major resistance level at $0.2438 could be on the cards.
Failure to move through the morning high $0.22555 could see Ripple’s XRP struggle throughout the day.
A fall through the morning low $0.21937 to sub-$0.2140 levels would bring the first major support level at $0.2036 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.20 levels.
Major Support Level: $0.2036
Major Resistance Level: $0.2334
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.