It's a bullish start to the day. Failure to move back through early morning highs could lead to a reversal, however...
EOS slid by 4.04% on Sunday. Reversing a 0.64% gain from Saturday, EOS ended the week down by 0.60% at $2.1232.
Bearish throughout the day, EOS fell from an early morning intraday high $2.2192 to a late intraday low $2.1022.
Falling short of the major resistance levels, EOS fell through the first major support level at $2.1163.
Finding support late on, EOS broke back through the first major support level to limit the loss on the day.
At the time of writing, EOS was up by 1.37% to $2.1523. A bullish start to the day saw EOS rise from an early morning low $2.1158 to a high $2.1550.
EOS left the major support and resistance levels untested early on.
EOS would need to move through to $2.16 levels to support a run at the first major resistance level at $2.1942.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.1550.
Barring an extended crypto rally, the first major resistance level would likely limit any upside.
Failure to break back through to $2.16 levels could see EOS hit reverse.
A fall back through to sub-$2.1480 levels would bring the first major support level at $2.0772 into play.
Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.00 levels. The second major support level at $2.0312 should limit any downside.
Major Support Level: $2.0772
Major Resistance Level: $2.1942
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum slid by 5.34% on Sunday. Following on from a 0.16% decline on Saturday, Ethereum ended the week up by 1.67% to $124.35.
Bearish through most of the day, Ethereum slid from an early morning intraday high $132.18 to a late intraday low $123.72.
Falling well short of the major resistance levels, Ethereum fell through the first major support level at $126.31.
In spite of finding late support from the broader market, Ethereum failed to break back through the first major support level.
At the time of writing, Ethereum was up by 2.26% to $127.16. A bullish start to the day saw Ethereum rise from an early morning low $124.05 to a high $127.40.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid sub-$127 levels to support a run at the first major resistance level at $129.78.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $127.40.
Barring an extended crypto rally, the first major resistance level at $129.78 and resistance at $130 would likely limit any upside.
Failure to avoid sub-$127 levels could see Ethereum struggle later in the day.
A fall through to sub-$125 levels would bring the first major support level at $121.32 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $118.29.
Major Support Level: $121.32
Major Resistance Level: $129.78
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP tumbled by 7.34% on Sunday. Reversing a 1.72% gain from Saturday, Ripple’s XRP ended the week up by 10.28% to $0.16300.
Tracking the broader market, Ripple’s XRP fell from an early morning intraday high $0.17701 to a late intraday low $0.16207.
Ripple’s XRP fell through the first major support level at $0.1682 before finding late support.
A partial recovery to $0.1630 levels was of little consolation on the day, however.
At the time of writing, Ripple’s XRP was up by 2.88% to $0.16770. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.16300 to a high $0.16834.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move back through to $0.1680 levels to support a run at the first major resistance level at $0.1727.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.17 levels.
Barring an extended crypto rally, the first major resistance level at $0.1727 would likely leave Ripple’s XRP short of $0.18 levels.
Failure to move back through to $0.1680 levels could see Ripple’s XRP give up the morning gains.
A fall back through to sub-$0.1670 levels would bring the first major support level at $0.1577 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels on the day.
The second major support level at $0.1524 should limit any downside on the day.
Major Support Level: $0.1577
Major Resistance Level: $0.1727
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.