EOS
EOS rose by 1.55% on Wednesday Following on from a 2.32% gain from Tuesday, EOS ended the day at $2.6684
It was a bearish start to the day. EOS slid from an early morning high $2.6278 to a mid-morning intraday low $2.5857.
Steering clear of the major resistance levels, EOS fell through the first major support level at $2.5798 before finding support.
Finding support in the 2nd half of the day, EOS rallied to a late intraday high $ $2.6738 before easing back.
EOS broke through the first major resistance level at $2.6563 to wrap up the day at $2.66 levels.
At the time of writing, EOS was up by 0.08% to $2.6705. A mixed start to the day saw EOS rise to an early morning high $2.6706 before falling to a low $2.6654.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.6426 pivot level to support a run at the first major resistance level at $2.6996.
Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.6738.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $2.6426 pivot would bring the first major support level at $2.6115 into play.
Barring an extended sell-off, EOS should steer clear of sub-$2.60 levels. The second major support level sits at $2.5545.
Looking at the Technical Indicators
First Major Support Level: $2.6115
Pivot Level: $2.6426
First Major Resistance Level: $2.6996
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 7.53% on Wednesday. Following on from a 4.13% rally on Tuesday, Ethereum ended the day at $264.28.
Tracking the broader market, Ethereum fell to a mid-morning intraday low $241.62 before making a move.
Steering clear of the first major support level at $238.71, Ethereum rallied to a late intraday high $269.49.
Ethereum broke through the day’s major resistance levels. A late pullback saw Ethereum fall back through the third major resistance level at $265.76.
More importantly, Ethereum broke through the 23.6% FIB of $257.
At the time of writing, Ethereum was up by 0.06% to $264.43. A mixed start to the day saw Ethereum fall to an early morning low $263.57 before rising to a high $264.78.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $258.46 pivot to support a run at the first major resistance level at $275.31.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $269.49.
Barring an extended crypto rally, the first major resistance level should cap any upside.
Failure to avoid a fall through the $258.46 pivot would bring the 23.6% FIB of $257 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the first major support level at $247.44. The second major support level sits at $230.59.
Looking at the Technical Indicators
First Major Support Level: $247.44
Pivot Level: $258.46
First Major Resistance Level: $275.31
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 2.06% on Wednesday. Following on from a 2.53% gain on Tuesday, Ripple’s XRP ended the day at $0.20408.
It was a bearish start to the day. Ripple’s XRP fell to a mid-morning intraday low $0.19649 before making a move.
Steering clear of the first major support level at $0.1956, Ripple’s XRP struck a late intraday high $0.20510.
Ripple’s XRP broke through the first major resistance level at $0.2028 to end the day at $0.2040 levels.
At the time of writing, Ripple’s XRP was up by 0.50% to $0.20510. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.20382 to a high $0.20510.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.2020 pivot to support a run at the first major resistance level at $0.2073.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.2051.
Barring a broad-based crypto rally, the first major resistance level should cap any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2105 before any pullback.
Failure to avoid a fall through the $0.2020 pivot would bring the first major support level at $0.1987 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1933.
Looking at the Technical Indicators
First Major Support Level: $0.1987
Pivot Level: $0.2020
First Major Resistance Level: $0.2073
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob