It's a bearish start to the day. Failure to move through the day's pivot levels will bring support levels into play.
EOS fell by 0.53% on Tuesday. Following Monday’s 3.58% rally, EOS ended the day at $3.0339.
A bullish start to the day saw EOS rise to an early morning intraday high $3.0987 before hitting reverse.
Falling short of the first major resistance level at $3.1435, EOS fell to an early afternoon intraday low $2.9488.
Steering clear of the first major support level at $2.9262, EOS revisited $3.00 levels before easing back into the red.
At the time of writing, EOS was down by 0.68% to $3.0133. A bearish start to the day saw EOS fall from an early morning high $3.0311 to a low $3.0015.
EOS left the major support and resistance levels untested early on.
EOS would need to move the $3.0271 pivot level to support a run at the first major resistance level at $3.1055.
Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $3.0987.
Barring another extended crypto rally, the first major resistance level and Tuesday’s high would likely cap any upside.
Failure to move through the $3.0271 pivot would bring the first major support level at $2.9556 into play.
Barring an extended sell-off, EOS should steer clear of the second major support level at $2.8772
First Major Support Level: $2.9556
Pivot Level: $3.0271
First Major Resistance Level: $3.1055
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 0.92% on Tuesday. Following on from a 3.77% rally on Monday, Ethereum ended the day at $389.82.
A bullish start to the day saw Ethereum rally to an early morning intraday high $403.64 before hitting reverse.
Ethereum broke through the first major resistance level at $401.83 before sliding to an early afternoon intraday low $380.67.
Steering clear of the first major support level at $368.48, Ethereum revisited $390 levels before easing back.
At the time of writing, Ethereum was down by 0.81% to $386.65. A bearish start to the day saw Ethereum fall from an early morning high $392.24 to a low $383.86.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through the $391.38 pivot to support a run at the first major resistance level at $402.08.
Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.
Barring an extended crypto rally, the first major resistance level should cap any upside.
A fall through the $391.38 pivot would bring the first major support level at $379.11 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level at $368.41 and the 38.2% FIB of $367 should limit any downside.
First Major Support Level: $379.11
Pivot Level: $391.38
First Major Resistance Level: $402.08
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP fell by 2.90% on Tuesday. Partially reversing Monday’s 7.58% rally, Ripple’s XRP ended the day at $0.30124.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.3190 before hitting reverse.
Falling short of the first major resistance level at $0.3249, Ripple’s XRP fell to an early afternoon intraday low $0.29026.
While steering clear of the first major support level at $0.2892, Ripple’s XRP fell through the 23.6% FIB of $0.3134.
Finding late support, Ripple’s XRP recovered to $0.30 levels to cut the deficit on the day.
At the time of writing, Ripple’s XRP was down by 1.46% to $0.29685. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.30239 to a low $0.29418
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move through the $0.3035 pivot to support a run at the 23.6% FIB of 0.3134 and the first major resistance level at $0.3167.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.31 levels.
Barring another broad-based crypto rally, the first major resistance level should cap any upside.
In the event of a breakout, Ripple’s XRP could revisit $0.32 levels before any pullback.
Failure to move through the $0.3035 pivot would bring the first major support level at $0.2880 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.28 levels, however. The second major support level sits at $0.2748.
First Major Support Level: $0.2880
Pivot Level: $0.3035
First Major Resistance Level: $0.3167
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 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.