EOS
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.
For the day ahead
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.
Looking at the Technical Indicators
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
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.
For the day ahead
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.
Looking at the Technical Indicators
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
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.
For the day ahead
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
Looking at the Technical Indicators
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
