It's a bearish start to the day for the majors. Failure to move through the day's pivot levels will bring support levels into play.
EOS fell by 2.54% on Friday. Reversing a 1.05% gain from Thursday, EOS ended the day at $3.0074.
A bullish start to the day saw EOS rally to a late morning intraday $3.2450 before hitting reverse.
EOS broke through the first major resistance level at $3.1778 before sliding to a late afternoon intraday low $2.7496.
EOS fell through the first major support level at $2.990 and the second major support level at $2.9101.
Finding support late in the day, EOS moved back through the support levels to wrap up the day at $3.00 levels
At the time of writing, EOS was down by 0.43% to $2.9945. A bearish start to the day saw EOS fall from an early morning high $3.0095 to a low $2.9945.
EOS left the major support and resistance levels untested early on.
EOS would need to move through the $3.0007 pivot level to support a run at the first major resistance level at $3.2517
Support from the broader market would be needed, however, for EOS to break out from Friday’s high $3.2450.
Barring an extended crypto rally, however, resistance at $3.10 would likely leave EOS short of the major resistance levels.
Failure to move through the $3.0007 pivot would bring the first major support level at $2.7563 into play.
Barring another extended sell-off, however, EOS should steer clear of sub-$2.75 levels on the day. The second major support level sits at $2.5053.
First Major Support Level: $2.7563
Pivot Level: $3.0007
First Major Resistance Level: $3.2517
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum slid by 3.93% on Friday. Following on from a 1.48% loss on Thursday, Ethereum ended the day at $379.75.
A range-bound start to the day saw Ethereum rise to an early morning intraday high $398.57 before seeing red.
Falling short of the first major resistance level at $402.54, Ethereum fell to a late afternoon intraday low $362.88.
Ethereum fell through the day’s major support levels and the 38.2% FIB of $367 before finding support.
The partial recovery saw Ethereum move back through the 38.2% FIB and the third major support level at $370.71 to cut the deficit.
The second major support level at $383.74 pinned Ethereum back late in the day.
At the time of writing, Ethereum was down by 0.08% to $379.45. A bearish start to the day saw Ethereum fall from an early morning high $379.76 to a low $377.70.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through the $380.40 pivot to support a run at the first major resistance level at $397.92.
Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $398.57 should cap any upside.
Failure to move through the $380.40 pivot would bring the 38.2% FIB and the first major support level at $362.23 into play.
Barring another extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $344.71.
First Major Support Level: $362.23
Pivot Level: $380.40
First Major Resistance Level: $397.92
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP slid by 2.87% on Friday. Following a 0.19% gain from Thursday, Ripple’s XRP ended the day at $0.29427.
A bullish start to the day saw Ripple’s XRP rally to a late morning intraday high $0.3100 before hitting reverse.
Ripple’s XRP came up against the first major resistance level at $0.3104 before sliding to a late afternoon intraday low $0.27742.
The reversal saw Ripple’s XRP fall through the first major support level at $0.2963 and the second major support level at $0.2897.
Late in the day, Ripple’s XRP briefly revisited $0.2963 levels before easing back into the deep red. The first major resistance level at $0.2963 pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was down by 0.37% to $0.29317. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.29430 to a low $0.29219.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move through the $0.2939 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 $0.30 levels.
Barring another broad-based crypto rally, the first major resistance level and Friday’s high $0.3100 should cap any upside.
In the event of a breakout, the 23.6% FIB of 0.3134 could come into play.
Failure to move through the $0.2939 pivot would bring the first major support level at $0.2778 into play.
Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.2613.
First Major Support Level: $0.2778
Pivot Level: $0.2939
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.