It's a mixed start to the day for the majors. A move back through Thursday's highs would be needed to bring resistance levels into play.
EOS rose by 0.42% on Thursday. Following on from a 1.47% gain on Wednesday, EOS ended the day at $5.3555.
A choppy start to the days aw EOS rise to an early morning intraday high $5.4861 before hitting reverse.
EOS broke through the first major resistance level at $5.4429 before sliding to a late morning intraday low $5.1700.
EOS fell through the first major support level at $5.2395 before striking an afternoon high $5.4199.
Falling short of the first major resistance level, EOS fell back through the first major support level before a late recovery.
At the time of writing, EOS was up by 1.10% to $5.4142. A mixed start to the day saw EOS fall to an early morning low $5.2674 before striking a high $5.4200.
EOS left the major support and resistance levels untested early on.
EOS would need to move back through Thursday’s high $5.4861 to support a run at the first major resistance level at $5.5044.
Support from the broader market would be needed, however, for EOS to break through to $5.5 levels.
Barring a broad-based crypto rebound, the first major resistance level and Thursday’s high $5.4861 would likely the upside on the day.
Failure to move back through Thursday’s high could see EOS hit reverse.
A fall back through to sub-$5.3370 levels would bring the first major support level at $5.1883 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$5.00 levels. The second major support level at $5.0211 should limit any downside.
Major Support Level: $5.1883
Major Resistance Level: $5.5044
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 0.67% on Thursday. Following on from an 11.98% surge on Wednesday, Ethereum ended the day at $268.42.
A mixed start to the day saw Ethereum rise to an early morning high $275 before sliding to a mid-morning intraday low $253.75.
Whilst steering clear of the first major support level at $244.24, Ethereum fell through the 23.6% FIB of $257 before making a move.
Finding support from the broader market, Ethereum rallied to an early afternoon intraday high $278.01.
While breaking back through the 23.6% FIB, Ethereum fell short of the first major resistance level at $282.44 before easing back to sub-$270 levels.
At the time of writing, Ethereum was up by 0.69% to $270.26. A mixed start to the day saw Ethereum fall to an early morning low $264.01 before striking a high $270.72.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through to $275 levels to bring the first major resistance level at $279.70 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $278.01.
Barring an extended crypto rally, the first major resistance level would likely cap any upside on the day.
Failure to move through to $275 levels could see Ethereum give up the early gains.
A fall back through to sub-$267 levels would bring the first major support level at $255.44 into play.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$250 levels.
Major Support Level: $255.44
Major Resistance Level: $279.70
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rallied by 7.4% on Thursday. Following on from an 8.26% breakout on Wednesday, Ripple’s XRP ended the day at $0.32708.
A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.33490 before falling to a mid-morning intraday low $0.29981.
Ripple’s XRP broke through the first major resistance level at $0.3150 and the second major resistance level at $0.3258.
In spite of the mid-morning pullback, Ripple’s XRP steered clear of the first major support level at $0.2872.
Finding support in the 2nd half of the day, Ripple’s XRP rallied to an early afternoon intraday high $0.33923 before easing back.
Ripple’s XRP broke back through the first and second major resistance levels before falling back to sub-$0.32 levels.
Finding late support, Ripple’s XRP broke back through the second major resistance level to wrap up the day at $0.3270 levels.
At the time of writing, Ripple’s XRP was down by 0.03% to $0.32699. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.33231 before falling to a low $0.32245.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to break back through to $0.33 levels to support a run at the first major resistance level at $0.3443.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.33923.
Barring an extended crypto rally, Wednesday’s high $0.30884 and resistance at $0.34 would likely limit any upside.
Failure to move back through to $0.33 levels could see Ripple’s XRP fall deeper into the red.
A fall back through the morning low $0.32245 to sub-$0.322 levels would bring the first major support level at $0.3049 into play.
Barring another crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.29 levels and the second major support level at $0.2826.
Major Support Level: $0.3049
Major Resistance Level: $0.3443
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.