EOS
EOS fell by 2.78% on Wednesday. Following on from a 0.66% decline on Tuesday, EOS ended the day at $2.5045.
It was another bullish start to the day, with EOS rising to an early morning intraday high $2.6033 before hitting reverse.
Coming up against the first major resistance level at $2.5993, EOS slid to an early afternoon intraday low $2.4600.
EOS fell through the day’s major support levels before moving back through the third major support level at $2.4873.
A late move back through to $2.50 levels reduced the deficit on the day.
At the time of writing, EOS was down by 0.08% to $2.5003. A bearish start to the day saw EOS fall from an early morning high $2.5045 to a low $2.5003.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through the $2.5230 pivot level to support a run at the first major resistance level at $2.5852.
Support from the broader market would be needed, however, for EOS to break out from $2.55 levels.
Barring another extended crypto rally, the first major resistance level would likely leave EOS short of $2.60 levels.
Failure to move through the $2.5230 pivot could see EOS fall further back.
A fall through Wednesday’s low $2.46 would bring the first major support level at $2.4419 into play.
Barring an extended sell-off, EOS should avoid sub-$2.40 and the second major support level at $2.3793. A key support level sitting at $2.40 should limit the downside on the day.
Looking at the Technical Indicators
Major Support Level: $2.4419
Major Resistance Level: $2.5852
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 3.55% on Wednesday. Following on from a 0.05% decline on Tuesday, Ethereum ended the day at $234.44.
It was a particularly bullish start to the day. Ethereum rallied to a mid-morning intraday high $249.04 before hitting reverse.
Ethereum broke through the first major resistance level at $245.04 and second major resistance level at $246.95.
Coming up against resistance at $250, Ethereum slid to a mid-afternoon intraday low $230.66.
The reversal saw Ethereum fall through the day’s major support levels before briefly revisiting $235 levels.
A partial recovery saw Ethereum come against the third major support level at $234.74, which left Ethereum in the deep red.
At the time of writing, Ethereum was down by 0.01% to $234.41. A mixed start to the day saw Ethereum rise to an early morning high $234.59 before falling to a low $233.85.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $238 pivot to support a run at the first major resistance level at $245.43.
Support from the broader market would be needed, however, for Ethereum to break back through to $245 levels.
Barring another extended crypto rally, the first major resistance level at $245.43 should cap any upside.
In the event of another breakout, expect another run at $250 before any pullback.
Failure to move through the $238 pivot could see Ethereum spend yet another day in the red.
A fall through to sub-$230 levels would bring the first major support level at $227.05 into play.
In the event of another extended sell-off, however, expect the second major support level at $219.67 to come into play.
Looking at the Technical Indicators
Major Support Level: $227.05
Major Resistance Level: $245.43
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slid by 2.91% on Wednesday. Following on from a 0.15% fall on Tuesday, Ripple’s XRP ended the day at $0.18369.
It was also a bullish start to the day for Ripple’s XRP. Ripple’s XRP rallied to a mid-morning intraday high $0.19064 before hitting reverse.
Coming up against the first major resistance level at $0.1904, Ripple’s XRP tumbled to a late morning intraday low $0.18157.
The reversal saw Ripple’s XRP slide through the major support levels and, more importantly, a key support level at $0.1840.
Steering clear of sub-$0.18 levels, Ripple’s XRP recovered to $0.01847 levels before a 2nd slide to the intraday low $0.18157.
Late in the day, Ripple’s XRP briefly revisited $0.1840 levels before easing back, a key support level at $0.1840 pining Ripple’s XRP back.
At the time of writing, Ripple’s XRP was down by 0.15% to $0.18342. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18358 to a low $0.18339.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through the $0.1855 pivot to support a run at the first major resistance level at $0.1890.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.1880 levels.
Barring a broad-based crypto rally, the first major resistance level and Wednesdays’ high $0.19064 would likely cap any upside.
In the event of a breakout, Ripple’s XRP could eye $0.20 levels before any pullback. The second major resistance level at $0.1944 would likely pin Ripple’s XRP back, however.
Failure to move through $0.1855 pivot could see Ripple’s XRP spend the day in the red.
A fall through Wednesday’s low $0.18157 would bring the first major support level at $0.1800 into play.
Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1762.
Looking at the Technical Indicators
Major Support Level: $0.1800
Major Resistance Level: $0.1890
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
This article was originally posted on FX Empire