It's a bearish start to the day as investors lock in gains from last week. Moves through to key levels by late morning would support a rebound.
EOS rallied by 7.57% on Sunday. Following on from a 0.34% gain from Saturday, EOS ended the week up by 19.8% to $3.2150.
Bullish throughout the day, EOS rallied from an early morning intraday low $2.9305 to a late intraday high $3.2150.
Steering clear of the major support levels, EOS broke through the first major resistance level at $3.1024. The second major resistance level at $3.2104 capped the upside on the day.
At the time of writing, EOS was down by 2.67 % to $3.1292. A bearish start to the day saw EOS fall from an early morning high $3.2107 to a low $3.1282.
EOS left the major support and resistance levels untested early on.
EOS would need to steer clear of sub-$3.1200 levels to support a run at the first major resistance level at $3.3098.
Support from the broader market would be needed, however, for EOS to breakout from the morning high $3.2107.
Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.
Failure to steer clear of sub-$3.1200 levels could see EOS fall deeper into the red.
A fall through to sub-$3.1000 levels would bring the first major support level at $3.0253 into play.
Barring a crypto meltdown, however, EOS should steer clear of sub-$3.00 levels and the second major support level at $2.8357.
Major Support Level: $3.0253
Major Resistance Level: $3.3098
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 2.87% on Sunday. Reversing a 1.56% fall from Saturday, Ethereum ended the week up 8.34% to $146.6.
Relatively bullish throughout the day, Ethereum rose from an early morning intraday low $141.83 to a late intraday high $146.6.
Steering clear of the major support levels, Ethereum broke through the first major resistance level at $146.42 at the day end.
At the time of writing, Ethereum was down by 1.05% to $145.06. A mixed start to the day saw Ethereum rise to an early morning high $147.00 before falling to a low $144.78.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to hold onto $145 levels to support a run at the first major resistance level at $148.19.
Support from the broader market would be needed for Ethereum to break through the morning high $147.00.
Barring a broad-based crypto rebound, however, resistance at $147 would likely cap any upside.
Failure to hold onto $145 levels could see Ethereum fall further into the red.
A fall through the morning low $144.78 would bring the first major support level at $143.42 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of sub-$140 levels. The second major support level at $140.24 would likely limit any downside.
Major Support Level: $143.42
Major Resistance Level: $148.19
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 1.80% on Sunday. Reversing a 0.58% decline from Saturday, Ripple’s XRP ended the week up 10.55% to $0.21517.
A bullish start to the day saw Ripple’s XRP rally from an early morning intraday low $0.20947 to a mid-morning intraday high $0.21643.
In spite of the early moves, Ripple’s XRP left the major support and resistance levels untested.
Relatively range-bound through the rest of the day, Ripple’s XRP recovered from $0.211 levels with a final hour move into the green.
At the time of writing, Ripple’s XRP was down by 1% to $0.21301. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.21549 to a low $0.21272.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move back through to $0.2140 levels to support a run at the first major resistance level at $0.2179.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.21549.
Barring a broad-based crypto rebound, the first major resistance level and Saturday’s high $0.2179 would likely limit any upside.
Failure to move back through to $0.2140 levels could see Ripple’s XRP take a bigger hit.
A fall back through the morning low $0.21272 would bring the first major support level at $0.2110 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.20 levels. The second major support level at $0.2067 should limit any downside on the day.
Major Support Level: $0.2110
Major Resistance Level: $0.2179
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.