EOS
EOS slid by 6.31% on Wednesday. Following on from a 5.35% loss on Tuesday, EOS ended the day at $3.3497.
It was a mixed start to the day. EOS rose to an early morning intraday high $3.6295 before hitting reverse.
Falling short of the first major resistance level at $3.7944, EOS slid to a late intraday low $3.2119.
EOS fell through the first major support level at $3.4097 and the second major support level at $3.2416.
Finding support late in the day, EOS broke back through the second major support level to cut the deficit.
At the time of writing, EOS was up by 1.11% to $3.3869. A bullish start to the day saw EOS rise from an early morning low $3.3451 to a high $3.3958.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through the $3.3970 pivot level to support a run at the first major resistance level at $3.5822.
Support from the broader market would be needed, however, for EOS to break back through to $3.50 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $3.6295 would likely cap any upside.
Failure to move back through the pivot level at $3.3970 would bring the first major support level at $3.1646 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level sits at $2.9794.
Looking at the Technical Indicators
First Major Support Level: $3.1646
Pivot Level: $3.3970
First Major resistance Level: $3.5822
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 3.49% on Wednesday. Following on from a 2.13% decline on Tuesday, Ethereum ended the day at $407.59.
A bullish start to the day saw Ethereum rise to an early morning intraday high $426.97 before hitting reverse.
Falling short of the first major resistance level at $432.87, Ethereum slid to a late intraday low $393.75.
Ethereum fell through the first major support level at $413.15 and the second major support level at $403.99.
Finding late support, Ethereum moved back through the second major support level to limit the loss on the day.
At the time of writing, Ethereum was up by 1.15% to $412.27. A bullish start to the day saw Ethereum rise from an early morning low $407.59 to a high $412.37.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall back through the $409.44 pivot to support a run at the first major resistance level at $425.12.
Support from the broader market would be needed, however, for Ethereum to break back through to $420 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $426.97 would likely cap any upside.
Failure to avoid a fall through the $409.44 pivot would bring the first major support level at $391.90 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $376.22.
Looking at the Technical Indicators
First Major Support Level: $391.90
Pivot Level: $409.44
First Major Resistance Level: $425.12
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 4.29% on Wednesday. Following on from a 3.98% decline on Tuesday, Ripple’s XRP ended the day at $0.28992.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.30603 before hitting reverse.
Falling short of the first major resistance level at $0.3170, Ripple’s XRP slid to a late intraday low $0.2789.
Ripple’s XRP fell through the first major support level at $0.2935 and the second major support level at $0.2840.
Finding support late in the day, Ripple’s XRP broke back through the second major support level to reduce the loss on the day.
At the time of writing, Ripple’s XRP was up by 0.41% to $0.29112. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28984 before rising to a high $0.29134.
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 $0.2916 pivot to support a run at the first major resistance level at $0.3043.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.30603 should cap any upside.
Failure to move through the $0.2916 pivot would bring the first major support level at $0.2772 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.26 levels on the day.
The second major support level at $0.2645 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.2772
Pivot Level: $0.2916
First Major Resistance Level: $0.3043
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