It's another choppy start to the day, with the majors hitting reverse. Failure to break back through Thursday highs will test market resilience...
EOS rallied by 13.71% on Thursday. Following on from a 1.68% gain on Wednesday, EOS ended the day at $2.0849.
A bearish start to the day saw EOS fall to an early morning intraday low $1.9747 before making a move.
Steering clear of the first major support level at $1.9189, EOS rallied to a late intraday high $2.4000.
EOS broke through the major resistance levels before easing back to $2.20 levels. In spite of the pullback, EOS held above the third major resistance level at $2.2423.
At the time of writing, EOS was down by 0.15% to $2.2816. A mixed start to the day saw EOS rise to an early morning high $2.3281 before falling to a low $2.2630.
EOS left the major support and resistance levels untested early on.
EOS would need to move back through to $2.30 levels to bring the first major resistance level at $2.4650 into play.
Support from the broader market would be needed, however, for EOS to break out from the Thursday’s high $2.4000.
Barring another extended rally, the first major resistance level at $2.4650 would likely cap any upside.
Failure to move through to $2.30 levels could see EOS fall deeper into the red.
A fall back through to sub-$2.1200 levels would bring the first major support level at $2.0400 into play.
Barring another crypto meltdown, however, EOS should steer well clear of $1.9000 support levels.
Major Support Level: $2.0397
Major Resistance Level: $2.4650
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rallied by 15.25% on Thursday. Following on from a 2.19% gain on Wednesday, Ethereum ended the day at $136.68
Tracking the broader market, Ethereum fell to an early morning intraday low $115.72 before finding support.
Steering clear of the first major support level at $112.89, Ethereum rallied to a late intraday high $144.44.
Ethereum broke through the major resistance levels before falling back to sub-$140 levels. In spite of the pullback, Ethereum held above the third major resistance level at $133.29.
At the time of writing, Ethereum was down by 0.37% to $136.17. A mixed start to the day saw Ethereum rise to an early morning high $140.27 before falling to a low $133.89.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through to $140 levels to support a run at the first major resistance level at $148.84.
Support from the broader market would be needed, however, for Ethereum to breakout from Thursday’s high $144.44.
Barring a broad-based rebound, resistance at $140 would likely leave Ethereum short of the first major resistance level.
Failure to move through to $140 levels could see Ethereum struggle throughout the day.
A fall back through to sub-$132 levels would bring the first major support level at $120.12 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $103.56.
Major Support Level: $120.12
Major Resistance Level: $148.84
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 11.40% on Thursday. Following on from a 0.49% gain on Wednesday, Ripple’s XRP ended the day at $0.16509.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.14466 before finding support.
Steering clear of the first major support level at $0.1424, Ripple’s XRP rallied to a late intraday high $0.17322.
Ripple’s XRP broke through the major resistance levels before easing back to $0.165 levels. The pullback saw Ripple’s XRP fall back through the third major resistance level at $0.16550.
At the time of writing, Ripple’s XRP was down by 2.25% to $0.16138. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.15800 before striking a high $0.16711.
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 $0.16711 to $0.17 levels to support a run at the first major resistance level at $0.1773.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the Thursday’s high $0.17322.
Barring a broad-based crypto rebound, resistance at $0.17 would likely leave Ripple’s XRP short of the first major resistance level at S0.1773.
Failure to move back through the morning high $0.16711 could see Ripple’s XRP fall deeper into the red.
A fall back through to sub-$0.1610 levels would bring the first major support level at $0.1488 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels on the day.
Major Support Level: $0.1488
Major Resistance Level: $0.1773
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 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.