It's a mixed start to the day for the broader market. A move through the day's pivot levels would bring resistance levels into play.
EOS rose by 1.05% on Thursday. Following a 0.71% gain on Wednesday, EOS ended the day at $3.0878.
A bearish start to the day saw EOS fall to an early morning intraday low $3.0001 before making a move.
Finding support at the first major support level at $3.0021, EOS rallied to a late intraday high $3.1789.
EOS broke through the first major resistance level at $3.0992 and the second major resistance level at $3.1475.
A late pullback saw EOS slide to $3.05 levels before briefly revisiting $3.10 levels. The first major resistance level at $3.0992 capped the upside late on.
At the time of writing, EOS was down by 0.02% to $3.0871. A mixed start to the day saw EOS fall to an early morning low $3.0805 before striking a high $3.0871.
EOS left the major support and resistance levels untested early on.
EOS would need to move through the $3.0889 pivot level to support a run at the first major resistance level at $3.1778.
Support from the broader market would be needed, however, for EOS to break back through to $3.17 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $3.1789 would likely cap any upside.
Failure to move through the $3.0889 pivot would bring the first major support level at $2.990 into play.
Barring an extended sell-off, EOS should steer clear of the second major support level at $2.9101.
First Major Support Level: $2.990
Pivot Level: $3.0889
First Major Resistance Level: $3.1778
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum fell by 1.48% on Thursday. Partially reversing a 2.94% gain from Wednesday, Ethereum ended the day at $395.28.
A mixed start to the day saw Ethereum rise to an early morning intraday high $404.03 before seeing red.
Falling short of the first major resistance level at $411.52, Ethereum fell to a late intraday low $391.00.
Steering clear of the first major support level at $387.38, Ethereum recovered to $395 levels to limit the downside.
At the time of writing, Ethereum was down by 0.06% to $395.05. A mixed start to the day saw Ethereum fall to an early morning low $394.19 before rising to a high $395.34.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through the $396.77 pivot to support a run at the first major resistance level at $402.54.
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.
Failure to move through the $396.77 pivot would bring the first major support level at $389.51 into play.
Barring an extended sell-off, however, Ethereum should continue to steer clear of the second major support level at $383.74.
First Major Support Level: $389.51
Pivot Level: $396.77
First Major Resistance Level: $402.54
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 0.19% on Thursday. Following on from a 0.38% gain on Wednesday, Ripple’s XRP ended the day at $0.30296.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.29712 before finding support.
Steering clear of the first major support level at $0.2929, Ripple’s XRP rose to a mid-afternoon intraday high $0.3112.
Ripple’s XRP broke through the first major resistance level at $0.3099 before falling back to sub-$0.30 levels.
Finding late support, Ripple’s XRP moved back through to $0.3029 levels to deliver the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.18% to $0.3024. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.30303 to a low $0.30171.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move through the $0.3038 pivot to support a run at the first major resistance level at $0.3104.
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 and Thursday’s high $0.3112 should cap any upside.
In the event of a breakout, the 23.6% FIB of 0.3134 and the second major resistance level at $0.3178 could come into play.
Failure to move through the $0.3038 pivot would bring the first major support level at $0.2963 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels, however. The second major support level sits at $0.2897.
First Major Support Level: $0.2963
Pivot Level: $0.3038
First Major Resistance Level: $0.3104
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.