It's a relatively bullish start to the day. The majors will need to target yesterday's highs to support another breakout.
EOS fell by 0.60% on Sunday. Partially reversing a 4.99% rally from Saturday, EOS ended the week up by 4.88% to $2.7164.
It was a mixed start to the day. EOS fell to an early morning low $2.7068 before making a move.
Steering clear of the first major support level at $2.6367, EOS rallied to a late morning intraday high $2.8141.
EOS broke through the first major resistance level at $2.7880 before falling to a mid-day intraday low $2.6858.
Holding above the major support levels, EOS briefly revisited $2.74 levels before falling back into the red.
At the time of writing, EOS was up by $0.07% to $2.7184. A bullish start to the day saw EOS rise from an early morning low $2.7172 to a high $2.7237.
EOS left the major support and resistance levels untested early on.
EOS would need to move through the $2.7388 pivot level to support a run at the first major resistance level at $2.7917.
Support from the broader market would be needed, however, for EOS to break out from $2.75 levels.
Barring an extended crypto rally, the first major resistance level likely cap any upside.
Failure to move through the $2.7388 pivot would bring the first major support level at $2.6634 into play.
Barring another extended sell-off, EOS should steer clear of sub-$2.60 levels. The second major support level at $2.6105 should limit any downside.
First Major Support Level: $2.6634
Pivot Level: $2.7388
First Major Resistance Level: $2.7917
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 1.90% on Sunday. Following on from Saturday’s 9.30% rally, Ethereum ended the week up by 30.13% to $311.35.
A bearish start saw Ethereum fall to an early morning intraday low $300.21 before making a move.
Steering well clear of the first major support level at $286.85, Ethereum rallied to a late morning intraday high $319.86.
Ethereum broke through the first major resistance levels at $317.23 before falling back to $301 levels.
Finding late support, Ethereum broke back through to $314 levels before easing back.
At the time of writing, Ethereum was up by 0.21% to $312.01. A bullish start to the day saw Ethereum rise from an early morning low $311.38 to a high $312.72.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the $310.40 pivot to support a run at the first major resistance level at $320.74.
Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $319.86.
Barring another extended crypto rally, the first major resistance level should cap any upside.
Failure to avoid a fall through the $310.50 pivot would bring the first major support level at $301.09 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $290.82.
First Major Support Level: $301.09
Pivot Level: $310.50
First Major Resistance Level: $320.74
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 0.28% on Sunday. Following on from a 5.23% rally from Saturday, Ripple’s XRP ended the week up by 7.80% to $0.21551.
It was a mixed start to the day. Ripple’s XRP slipped to an early morning low $0.21313 before striking a late morning intraday high $0.22540.
Ripple’s XRP broke through the first major resistance level at $0.2206 before sliding to a mid-day intraday low $0.21237.
Steering clear of the first major support level at $0.2067, Ripple’s XRP revisited $0.2190 levels before easing back.
At the time of writing, Ripple’s XRP was up by 0.25% to $0.21605. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.21526 before striking a high $0.21608.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move through the $0.2178 pivot to support a run at the first major resistance level at $0.2232.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2200 levels.
Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $0.2254 should cap any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2308 before any pullback.
Failure to move through the $0.2178 pivot would bring the first major support level at $0.2101 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.21 levels and the second major support level at $0.2047.
First Major Support Level: $0.2101
Pivot Level: $0.2178
First Major Resistance Level: $0.2232
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.