It's a relatively bullish start to the day. The majors will need to avoid the pivots and breakthrough Wednesday's highs, however, to avoid a reversal.
EOS fell by 0.15% on Wednesday. Following Tuesday’s 7.77% tumble, EOS ended the day at $3.1197.
It was another mixed start to the day. EOS rose to an early morning high $3.1577 before hitting reverse.
Falling short of the first major resistance level at $3.3622, EOS fell to an early afternoon intraday low $3.0578.
Steering clear of the first major support level at $2.9184, EOS rose to a late afternoon intraday high $3.1729.
A bearish end to the day, however, left EOS in the red.
At the time of writing, EOS was up by 0.23% to $3.1269. A mixed start to the day saw EOS fall to an early morning low $3.1128 before rising to a high $3.1338.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid a fall through the $3.1168 pivot level to support a run at the first major resistance level at $3.1758.
Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.1729.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the pivot level at $3.1168 would bring the first major support level at $3.0607 into play.
Barring another extended sell-off, however, EOS should avoid a return to sub-$3.00 levels. The second major support level at $3.0017 should limit any downside.
First Major Support Level: $3.0607
Pivot Level: $3.1168
First Major resistance Level: $3.1758
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Ethereum rose by 0.74% on Wednesday. Partially reversing a 6.02% slide from Tuesday, Ethereum ended the day at $386.1.
It was also a mixed start to the day. Ethereum rose to an early morning high $388.0 before hitting reverse.
Falling short of the first major resistance level at $405.31, Ethereum fell to an early afternoon intraday low $377.56.
Steering clear of the first major support level at $365.36, Ethereum rose to a late afternoon intraday high $393.50.
Falling short of the first major resistance level once more, Ethereum slipped back to sub-$390 to limit the upside.
At the time of writing, Ethereum was up by 0.06% to $386.34. A mixed start to the day saw Ethereum fall to an early morning low $385.63 before rising to a high $387.00.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the $386 pivot to support a run at the first major resistance level at $394.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $393.50.
Barring an extended crypto rally, the first major resistance level and resistance at $400 would likely cap any upside.
Failure to avoid a fall through the $386 pivot would bring the first major support level at $378 into play.
Barring another extended sell-off, however, Ethereum should continue to steer clear of sub-$370 levels. The second major support level sits at $370.
First Major Support Level: $378
Pivot Level: $386
First Major Resistance Level: $394
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 0.05% on Wednesday. Partially reversing a 4.22% slide from Tuesday, Ripple’s XRP ended the day at $0.27649.
It was a bearish start to the day. Ripple’s XRP fell to an early morning intraday low $0.27422 before finding support.
Steering clear of the first major support level at $0.2680, Ripple’s XRP rose to a late afternoon intraday high $0.28097.
Falling short of the first major resistance level at $0.2874, however, Ripple’s XRP slipped back to end the day at sub-$0.28 levels.
At the time of writing, Ripple’s XRP was up by 0.42% to $0.27765. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.27654 to a high $0.27765.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid a fall through the $0.2772 pivot to support a run at the first major resistance level at $0.2802.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.28 levels.
Barring an extended crypto rally, the first major resistance level should cap any upside.
Failure to avoid a fall through the $0.2772 pivot would bring the first major support level at $0.2735 into play.
Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.27 levels. The second major support level at $0.2705 should limit any downside.
First Major Support Level: $0.2735
Pivot Level: $0.2772
First Major Resistance Level: $0.2802
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.