It's a mixed start to the day for the majors. A failure to move back through early highs could lead to another sell-off...
EOS tumbled by 11.0% on Sunday. Following a 0.03% gain on Saturday, EOS ended the week down 13.83% to $2.4471.
It was a particularly bearish start to the day. EOS tumbled from an early morning intraday high $2.7506 to a 1st-hour intraday low $2.2606.
The meltdown saw EOS slide through the major support levels before recovering to $2.49 levels by mid-morning.
Falling short of the third major support level at $2.5698, EOS slid back to $2.30 levels before finding late support.
At the time of writing, EOS was up by 0.20% to $2.4521. A mixed start to the day saw EOS rise to an early morning high $2.4811 before falling to a low $2.4405.
EOS left the major support and resistance levels untested early on.
EOS would need to move through to $2.49 levels to bring the first major resistance level at $2.7116 into play.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.4811.
Barring an extended crypto rebound, resistance at $2.50 would likely leave EOS short of the first major support level.
Failure to move back through to $2.49 levels would see EOS slide into the red.
A fall through the morning low $2.4405 would bring the first major support level at $2.2216 into play.
Barring another extended crypto sell-off, however, EOS should steer clear of sub-$2.20 levels.
Major Support Level: $2.2216
Major Resistance Level: $2.7116
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum tumbled by 10.63% on Sunday. Following on from a 0.78% decline on Saturday, Ethereum ended the week down 10.71% to $187.73.
Tracking the broader market, Ethereum slid from an intraday high $210.06 to a 1st-hour intraday low $180.01.
Ethereum fell through the major support levels before briefly recovering to $193 levels.
Falling short of the third major support level at $197.98, Ethereum fell back to $180 levels before finding late support.
At the time of writing, Ethereum was up by 0.86% to $189.34. A bullish start to the day saw Ethereum rise from an early morning low $187.65 to a high $191.23.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through to $192.60 levels to bring the first major resistance level at $205.19 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $191.23.
Barring a broad-based crypto rebound, resistance at $200 would likely pin Ethereum back on the day.
Failure to move back through to $192.60 levels could see Ethereum fall back into the red.
A fall back through the morning low $187.65 would bring the first major support level at $175.14 into play.
Barring another extended sell-off, however, Ethereum should avoid sub-$180 levels.
Major Support Level: $175.14
Major Resistance Level: $205.19
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP slid by 8.68% on Sunday. Following on from a 0.97% decline on Saturday, Ripple’s XRP ended the week down 10.06% to $0.19721.
The Sunday meltdown saw Ripple’s XRP slide from an intraday high $0.21622 to a 1st-hour intraday low $0.17501.
Ripple’s XRP slid through the major support levels before briefly revisiting $0.20 levels by mid-morning.
The partial recovery saw Ripple’s XRP move back through the third major support level at $0.1999 before sliding back to sub-$0.19 levels.
Finding support from the broader market, however, Ripple’s XRP wrapped up the day at $0.19 levels.
At the time of writing, Ripple’s XRP was down by 0.16% to $0.19689. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.19682 to a high $0.20000.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move back through to $0.20 levels to bring the first major resistance level at $0.2173 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20000.
Barring an extended crypto rebound, resistance at $0.20000 would likely leave Ripple’s XRP short of the major resistance levels.
Failure to move back through to $0.20 levels could see Ripple’s XRP fall deeper into the red.
A fall through the morning low $0.19682 would bring sub-$0.0.19 levels into play before any recovery.
Barring another crypto meltdown, however, Ripple’s XRP should steer clear of the first major support level at $0.1761.
Major Support Level: $0.1761
Major Resistance Level: $0.2173
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.