It's a mixed start to the day with Ripple's XRP looking to buck the trend. A move back through key levels would be needed to avoid a sell-off.
EOS rose by 0.08% on Friday. Following on from a 0.42% gain on Thursday, EOS ended the day at $5.3600.
A choppy start to the day saw EOS rise to an early morning intraday high $5.4234 before hitting reverse.
Falling short of the first major resistance level at $5.5044, EOS slid to a mid-morning intraday low $5.2173.
Steering clear of the first major support level at $5.1883, EOS recovered to $5.38 levels before easing back to an afternoon low $5.2760.
Finding support late on recovered to $5.30 levels to close out the day in the green.
At the time of writing, EOS was down by 1.64% to $5.2723. A mixed start to the day saw EOS rise to an early morning high $5.3872 before sliding to a low $5.2265.
Falling short of the major resistance levels, EOS fell through the first major support level at $5.2437 early on.
EOS would need to move back through to $5.33 levels to support a run at the first major resistance level at $5.4498.
Support from the broader market would be needed, however, for EOS to break out from Friday’s high $5.4234.
Barring a broad-based crypto rebound, the first major resistance level at $5.4498 and Friday’s high would likely limit the upside on the day.
Failure to move back through to $5.33 levels could see EOS fall deeper into the red.
A fall back through the first major support level at $5.2437 would bring sub-$5.20 levels into play.
Barring an extended crypto sell-off, however, EOS should continue to steer of the second major support level at $5.1275.
Major Support Level: $5.2437
Major Resistance Level: $5.4498
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rallied by 6.67% on Friday. Following on from a 0.67% gain on Thursday, Ethereum ended the day at $286.27.
A bearish start to the day saw Ethereum fall to a mid-morning intraday low $260.13 before making a move.
Steering clear of the first major support level at $255.44, Ethereum rallied to a late intraday high $287.98.
Ethereum broke through the first major resistance level at $279.70 to hit $280 for the 1st time since early July.
At the time of writing, Ethereum was down by 1.48% to $282.02. A mixed start to the day saw Ethereum rise to an early morning high $290.00 before sliding to a low $278.27.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through the morning high $290.00 to bring the first major resistance level at $296.12 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $287.98 again.
Barring an extended crypto rally, resistance at $290.00 would likely leave Ethereum short of the first major resistance level.
Failure to move through to $290 levels could see Ethereum slide deeper into the red.
A fall back through to sub-$278 levels would bring the first major support level at $268.27 into play.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$270 levels.
Major Support Level: $268.27
Major Resistance Level: $296.12
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 2.84% on Friday. Following on from a 7.4% rally on Thursday, Ripple’s XRP ended the day at $0.33589.
A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.33231 before falling to a mid-morning intraday low $0.31060.
Steering clear of the first major support level at $0.30490, Ripple’s XRP rallied to a late afternoon intraday high $0.33890.
Falling short of the first major resistance level at $0.3443, Ripple’s XRP eased back to $0.3320 levels before a late move back through to $0.3350 levels.
At the time of writing, Ripple’s XRP was up by 0.25% to $0.33674. A choppy start to the day saw Ripple’s XRP rise to an early morning high $0.34639 before sliding to a low $0.33135.
Ripple’s XRP came up against the first major resistance level at $0.3463 before sliding back to sub-$0.34 levels.
Ripple’s XRP will need to break back through to $0.34 levels to support another run at the first major resistance level at $0.3463.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.33923 for a 2nd time.
Barring an extended crypto rally, the first major resistance level at $0.3463 would likely limit any upside.
Failure to move back through to $0.34 levels could see Ripple’s XRP fall back into the red.
A fall back through the morning low $0.33135 to sub-$0.3285 levels would bring the first major support level at $0.3180 into play.
Barring another crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.32 levels on the day
Major Support Level: $0.3180
Major Resistance Level: $0.3463
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.