It’s a bearish start to the day.Failure to break back through to key levels will bring support levels into play… EOS
EOS fell by 2.19% on Wednesday.Following on from a 0.28% decline on Tuesday, EOS ended the day at $2.5934.
A range-bound start to the day saw EOS rise to an early morning intraday high $2.6766 before easing back to sub-$2.65 levels.
EOS fell short of the first major resistance level at $2.6864 before sliding in the early afternoon to an intraday low $2.5300.
EOS fell through the first major support level at $2.5936 and second major support level at $2.5357 before finding support.
A return to $2.60 levels late in the day was brief, however, with EOS closing out at $2.59 levels.The first major support level at $2.5936 limited the downside at the day end.
At the time of writing, EOS was down by 0.87% to $2.5710.A mixed start to the day saw EOS rise to an early morning high $2.6119 before falling to a low $2.5710.
EOS left the major support and resistance levels untested early on.For the day ahead
EOS would need to move through to $2.60 levels to bring the first major resistance level at $2.6700 into play.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6119.
Barring a broad-based crypto rebound, however, resistance at $2.60 would likely leave EOS short of the major first resistance level.
Failure to move back through to $2.60 levels could see EOS fall deeper into the red.
A fall through to sub-$2.55 levels would bring the first major support level at $2.5234 into play.
Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.4534.
Major Support Level: $2.5234
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82 Ethereum
Ethereum fell by 2.25% on Wednesday.Following on from a 0.07% decline on Tuesday, Ethereum ended the day at $209.96.
It was a choppy day for the majors.
Ethereum rose to a mid-morning intraday high $215.50 before hitting reverse.
Falling short of the first major resistance level at $217.29, Ethereum slid to an early afternoon intraday low $205.10.
Ethereum fell through the first major support level at $210.67 and the second major support level at $206.64.
Finding late support, Ethereum broke back through the major support levels to a high $210.82 before easing back.
The late pullback saw Ethereum fall back through the first major support level.
At the time of writing, Ethereum was down by 0.67% to $208.56.A mixed start to the day saw Ethereum rise to an early morning high $211.52 before falling to a low $208.35.
Ethereum left the major support and resistance levels untested early on.For the day ahead
Ethereum would need to move back through to $210.20 levels to bring the first major resistance level at $215.27 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $211.52.
Barring a broad-based crypto rebound, the first major resistance level and Wednesday’s high $215.50 would likely limit any upside.
Failure to move back through to $210.20 levels could see Ethereum slide deeper into the red.
A fall back through the morning low to sub-$208 levels would bring the first major support level at $204.87 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of the second major support level at $199.79.
Major Support Level: $204.87
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543 Ripple’s XRP
Ripple’s XRP fell by 1.67% on Wednesday.Following on from a 0.19% decline on Tuesday, Ripple’s XRP ended the day at $0.20139.
A relatively bullish start to the day saw Ripple’s XRP rose to a mid-morning intraday high $0.20625 before hitting reverse.
Falling short of the first major resistance level at $0.2072, Ripple’s XRP slid to a mid-afternoon intraday low $0.19722.
Ripple’s XRP fell through the first major support level at $0.2015 and the second major support level at $0.1982.
Finding late support, Ripple’s XRP broke back through the major support levels to $0.2023 levels before easing back.
The late pullback saw Ripple’s XRP fall back through the first major support level.
At the time of writing, Ripple’s XRP was down by 0.38% to $0.20063.A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20280 before falling to a low $0.20032.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move back through to $0.2020 levels to support a run at the first major resistance level at $0.2060.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20280.
Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.
Failure to move through to $0.2020 levels could see Ripple’s XRP fall deeper into the red.
A fall back through the morning low $0.20032 would bring the first major support level at $0.1970 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.1926.Looking at the Technical Indicators
Major Support Level: $0.1970
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.