It's a bullish start to the day for the majors. Steering clear of the day's pivot levels would bring resistance levels into play.
EOS fell by 1.00% on Monday. Reversing a 0.55% gain from Sunday, EOS ended the day at $2.7834.
It was bearish through most of the day. EOS fell from an early morning intraday high $2.8181 to a late afternoon intraday low $2.7542.
Falling short of the major resistance levels, EOS found support at the first major support level at $2.7537.
EOS managed to recover to $2.78 levels in the final hour, however, to limit the downside on the day.
At the time of writing, EOS was up by 0.47% to $2.7965. A bullish start to the day saw EOS rise from an early morning low $2.7924 to a high $2.8028.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid sub-$2.7850 levels to take a run at the first major resistance level at $2.8163 into play.
Support from the broader market would be needed, however, for EOS to break back through to $2.81 levels.
Barring an extended crypto rally, the first major resistance level at $2.8163 and Monday high $2.8181 would likely cap any upside.
Failure to avoid sub-$2.7850 levels could see EOS struggle on the day once more.
A fall through the $2.7850 pivot would bring the first major support level at $2.7524 into play.
Barring a crypto meltdown, however, EOS should steer clear of sub-$2.70 levels. The second major support level at $2.7213 should limit any downside.
Major Support Level: $2.7524
Major Resistance Level: $2.8163
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 0.72% on Monday. Following on from a 1.20% gain on Sunday, Ethereum ended the day at $246.55.
It was a mixed start to the day. Ethereum rose to an early morning high $245.5 before hitting reverse.
Coming up short of the first major resistance level at $248.68, Ethereum fell to an early afternoon intraday low $240.82.
Finding late support, however, Ethereum rallied to a final hour intraday high $247.97 before wrapping up the day at $246 levels. In spite of the late rally, Ethereum came up short of the first major resistance level at $248.68.
At the time of writing, Ethereum was up by 0.93% to $248.85. A bullish start to the day saw Ethereum rise from an early morning low $246.55 to a high $249.99 before easing back.
Ethereum tested the first major resistance level at $249.41 early on.
Ethereum would need to avoid sub-$245.10 levels to support another run at the first major resistance level at $249.41.
Support from the broader market would be needed, however, for Ethereum to break back through to $249 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $250 should cap any upside.
Failure to avoid sub-$245.10 levels could see Ethereum see give up Monday’s gain.
A fall back through the morning low $246.5 to sub-$245.10 levels would bring the first major support level at $242.26 into play.
Barring an extended crypto sell-off, however, Ethereum should continue to steer clear sub-$240 levels on the day.
The second major support level sits at $237.96.
Major Support Level: $242.26
Major Resistance Level: $249.41
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 0.44% on Monday. Reversing a 0.05% decline from Sunday, Ripple’s XRP ended the day at $0.20433.
It was a mixed start to the day. Ripple’s XRP rose to an early morning high $0.20375 before hitting reverse.
Falling short of the major resistance levels, Ripple’s XRP fell to a late morning intraday low $0.20137.
Steering clear of the first major support level at $0.1993, Ripple’s XRP rallied to a final hour intraday high $0.20472. In spite of the late rally, Ripple’s XRP failed to test the first major resistance level at $0.2062.
At the time of writing, Ripple’s XRP was up by 0.21% to $0.20475. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.20422 to a high $0.20541.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to avoid sub-$0.2035 levels to support a run at the first major resistance level at $0.2056.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20541.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid sub-$0.2035 levels could see Ripple’s XRP return to the red.
A fall back through the morning low $0.20422 to sub-$0.2035 levels would bring the first major support level at $0.2022 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.20 levels on the day. The second major support level at $0.2001 should limit any downside.
Major Support Level: $0.2022
Major Resistance Level: $0.2056
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.