It's a bullish start to the day. With Bitcoin breaking out to $10,000 levels, the majors will be eyeing resistance levels early...
EOS rallied by 3.64% on Saturday. Following on from a 0.08% gain on Friday, EOS ended the day at $4.7560.
A mixed start to the day saw EOS fall to an early morning intraday low $4.4338 before making a move.
EOS fell through the first major support level at $4.4966 before rallying to an early afternoon intraday high $4.8493.
The rally saw EOS break through the first major resistance level at $4.6881 and second major resistance level at $4.7870.
A relatively bearish end to the day saw EOS fall back through the second major resistance level.
At the time of writing, EOS was up by 3.72% to $4.9327. A particularly bullish start to the day saw EOS rally from an early morning low $4.7532 to a high $4.9468.
Steering clear of the major support levels, EOS fell through the first major resistance level at $4.9256.
EOS would need to move back through the morning high $4.9468 to support a run at the second major resistance level at $5.0952.
Support from the broader market would be needed, however, for EOS to break through to $5.00 levels.
Barring a broad-based crypto rebound, the first major resistance would likely the upside on the day.
Failure to move through the morning high $4.9468 could hit reverse.
A fall back through the morning low $4.7532 to sub-$4.68 levels would bring the second major support level at $4.5101 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$4.70 levels.
Major Support Level: $4.5101
Major Resistance Level: $4.9256
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 0.07% on Saturday. Following on from a 4.83% rally on Friday, Ethereum ended the day at $223.37.
A bearish start to the day saw Ethereum fall to an early morning intraday low $213.24 before making a move.
Ethereum fell through the first major support level at $215.85 before rallying to an early afternoon intraday high $228.40.
The rally saw Ethereum break through the first major resistance level at $227.69 before reversing the gains late on.
At the time of writing, Ethereum was up by 1.97% to $227.76. A bullish start to the day saw Ethereum rally from an early morning low $223.16 to a high $229.29.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back the morning high $229.29 to support a run at the first major resistance level at $230.10.
Support from the broader market would be needed, however, for Ethereum to break back through to $229 levels.
Barring an extended rally through the day, the first major resistance level at $230.10 would likely cap any upside.
Failure to move through the morning high $229.29 could see Ethereum hit reverse.
A fall back through the morning low $223.16 to sub-$221.70 levels would bring the first major support level at $214.94 into play before any recovery.
Barring a crypto sell-off, however, Ethereum should steer clear of sub-$220 levels.
Major Support Level: $214.94
Major Resistance Level: $230.10
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP slipped by 0.75% on Saturday. Following on from a 1.36% fall on Friday, Ripple’s XRP ended the day at $0.2770.
A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.26420 before finding support.
Ripple’s XRP fell through the first major support level at $0.2748 and the second major support level at $0.2705.
Steering clear of the third major support level at $0.2601, Ripple’s XRP rallied to a late morning intraday high $0.28200.
Falling short of the first major resistance level at $0.2853, Ripple’s XRP hit reverse to end the day in the red.
At the time of writing, Ripple’s XRP was up by 2.89% to $0.2850. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.27634 to a high $0.28884.
Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.28460.
Ripple’s XRP will need to break back through the morning high $0.28884 to support a run at the second major resistance level at $0.2922.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.288 levels.
Barring an extended crypto rally, resistance at $0.29 would likely leave Ripple’s XRP short of the second major resistance level.
Failure to move back through the morning high to $0.28884 levels could see Ripple’s XRP struggle later in the day.
A fall back through the morning low $0.27634 to sub-$0.2740 levels would bring the first major support level at $0.2668 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.26 levels on the day.
Major Support Level: $0.2668
Major Resistance Level: $0.2846
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.