It's a bullish start to the day, with resistance levels in play should the majors move through to key levels by late morning.
EOS rose by 3.74% on Tuesday. Partially reversing a 7.21% slide from Monday, EOS ended the day at $1.9782.
A bullish start to the day saw EOS rise from an early morning intraday low $1.8808 to a high $2.0367 before easing back.
Steering clear of the major support and resistance levels, EOS fell back to sub-$2.00 levels before striking a late intraday high $2.0442.
Falling short of the first major resistance level at $2.0672, EOS eased back to wrap up the day at sub-$2.00 levels.
At the time of writing, EOS was up by 1.22% to $2.0023. A mixed start to the day saw EOS fall to an early morning low $1.9671 before striking a high $2.0062.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid sub-$2.00 levels to take a run at the first major resistance level at $2.0547.
Support from the broader market would be needed, however, for EOS to break out from the Tuesday’s high $2.0442.
Barring an extended crypto rally, the first major resistance level at $2.0547 would likely cap any upside.
Failure to avoid sub-$2.00 levels could see EOS fall back into the red.
A fall back through to sub-$1.9677 levels would bring the first major support level at $1.8913 into play.
Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $1.8043.
Major Support Level: $1.8913
Major Resistance Level: $2.0547
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rallied by 4.25% on Tuesday. Partially reversing a 9.69% slide from Monday, Ethereum ended the day at $116.09.
A bullish start to the day saw Ethereum rise from an early morning intraday low $109.66 to a high $121.49.
Steering clear of the major support and resistance levels, Ethereum fell back to an afternoon low $112.76.
Finding support from the broader market Ethereum recovered to $120 levels before a final hour pullback to $116 levels.
At the time of writing, Ethereum was up by 1.40% to $117.71. A mixed start to the day saw Ethereum fall to an early morning low $115.42 before striking a high $118.48.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through to $120 levels to support a run at the first major resistance level at $121.83.
Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $118.48.
Barring an extended crypto rally, resistance at $120 would likely leave Ethereum short of the first major resistance level.
Failure to move through to $120 levels could see Ethereum hit reverse later in the day.
A fall back through to sub-$115.80 levels would bring the first major support level at $110.00 into play.
Barring a crypto sell-off, however, Ethereum should steer clear of the second major support level at $103.92.
Major Support Level: $110.00
Major Resistance Level: $121.83
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 4.04% on Tuesday. Partially reversing a 7.56% slide from Monday, Ripple’s XRP ended the day at $0.14773.
A bullish start to the day saw Ripple’s XRP rise from an early morning intraday low $0.10479 to a mid-morning intraday high $0.15306.
Falling short of the first major resistance level at $0.1543, Ripple’s XRP fell back to an early afternoon low $0.14399.
Continuing to avoid the first major support level at $0.1291, Ripple’s XRP recovered to $0.15 levels before a late pullback.
At the time of writing, Ripple’s XRP was up by 0.86% to $0.1490. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.14646 before striking a high $0.14936.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move back through the morning high to $0.15 levels to support a run at the first major resistance level at $0.1536.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.14936.
Barring an extended crypto rally, the first major resistance level at S0.1536 would likely limit any upside.
Failure to move back through to $0.15 levels could see Ripple’s XRP fall back into the red.
A fall back through to sub-$0.1470 levels would bring the first major support level at $0.1413 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.14 levels on the day.
Major Support Level: $0.1413
Major Resistance Level: $0.1536
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.