It's a bearish start to the day. Steering clear of the pivot levels would give the majors another run at resistance levels on the day.
EOS rallied by 4.80% on Wednesday. Reversing a 2.14% fall from Tuesday, EOS ended the day at $2.6858.
A mixed start to the day saw EOS fall to an early morning intraday low $2.5469 before making a move.
Steering clear of the first major support level at $2.5143, EOS rallied to an early afternoon intraday high $2.7088.
EOS broke through the first major resistance level at $2.6187 and the second major resistance level at $2.6770.
A pullback through the afternoon saw EOS fall through to $2.65 levels before finding late support.
EOS broke back through the second major resistance level to wrap up the day at $2.68 levels.
At the time of writing, EOS was down by 0.29% to $2.6781. A bearish start to the day saw EOS fall from an early morning high $2.6831 to a low $2.6781.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid a fall through the $2.6470 pivot level to support a run at the first major resistance level at $2.7474.
Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.7088.
Barring another extended crypto rally, the first major resistance level at $2.7474 would likely cap any upside.
Failure to avoid a fall through the $2.6470 pivot would bring the first major support level at $2.5855 into play.
Barring an extended sell-off, EOS should steer clear of sub-$2.60 levels. The second major support level at $2.4853 should limit any downside.
Major Support Level: $2.5855
Major Resistance Level: $2.7474
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 3.25% on Wednesday. Reversing a 0.97% decline from Tuesday, Ethereum ended the day at $247.14.
A mixed start to the day saw Ethereum fall to an early morning intraday low $237.91 before finding support.
Steering clear of the first major support level at $234.67, Ethereum rallied to a late intraday high $249.0.
Ethereum broke through the first major resistance level at $244.25 and second major resistance level at $248.52 before easing back.
Easing back through the second major resistance level, Ethereum wrapped up the day at $247 levels.
At the time of writing, Ethereum was down by 0.45% to $246.02. A bearish start to the day saw Ethereum fall from an early morning high $247.11 to a low $245.88
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to avoid a fall through the $244.70pivot to support a run at the first major resistance level at $251.46.
Support from the broader market would be needed, however, for Ethereum to break out Wednesday’s high $249.0.
Barring another extended crypto rally, the first major resistance level should cap any upside.
Failure to avoid a fall through the $244.70 pivot would bring the first major support level at $240.37 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$240 levels. The second major support level sits at $233.59.
Major Support Level: $240.37
Major Resistance Level: $251.46
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP surged by 10.98% on Wednesday. Reversing Tuesday’s 1.93% fall with interest, Ripple’s XRP ended the day at $0.20575.
Tracking the broader market, Ripple’s XRP slipped to an early morning intraday low $0.18420 before making a move.
Steering clear of the first major support level at $0.1824, Ripple’s XRP rallied to a late intraday high $0.20700.
Ripple’s XRP broke through the day’s major resistance levels to visit $0.20 for the first time since 10th June.
At the time of writing, Ripple’s XRP was down by 0.62% to $0.20448. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.20581 to a low $0.20424.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid a fall through the $0.1990 pivot to support a run at the first major resistance level at $0.2138.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.20700.
Barring another broad-based crypto rally, resistance at $0.21 would likely leave Ripple’s XRP short of the first major resistance level.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2218 before any pullback.
Failure to avoid a fall through the $0.1990 pivot would bring the first major support level at $0.1910 into play.
Barring another extended crypto sell-off, however, Ripple’s XRP should avoid sub-$0.1900 levels. The second major support level sits at $0.1762.
Major Support Level: $0.1910
Major Resistance Level: $0.2138
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.