EOS
EOS rose by 0.15% on Wednesday. Following on from 0.29% gain on Tuesday, EOS ended the day at $3.0827.
A mixed start to the day saw EOS rise to an early morning intraday high $3.1204 before hitting reverse.
Falling short of the first major resistance level at $3.1656, EOS slid to a late afternoon intraday low $2.8580.
The reversal saw EOS fall through the first major support level at $2.9992 and the second major support level at $2.9169.
Finding support late on, EOS broke back through the major support levels to a high $3.1084 before easing back.
At the time of writing, EOS was down by 0.06% to $3.0809. A mixed start to the day saw EOS rise to an early morning high $3.0969 before falling to a low $3.0689.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $3.10 levels to bring the first major resistance level at $3.1827 into play.
Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.1204.
Barring a broad-based crypto rally, the first major resistance level would likely limit any upside on the day.
Failure to move back through to $3.10 levels could see EOS fall deeper into the red.
A fall back through to sub-$3.02 levels would bring the first major support level at $2.9203 into play.
Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.7580.
Looking at the Technical Indicators
Major Support Level: $2.9203
Major Resistance Level: $3.1827
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 3.00% on Wednesday. Following on from a 1.11% fall on Tuesday, Ethereum ended the day at $194.61.
Tracking the broader market, Ethereum rose to an early morning intraday high $202.98 before hitting reverse.
Falling short of the first major resistance level at $206.13, Ethereum slid to a late afternoon intraday low $181.00.
The reversal saw Ethereum fall through the first major support level at $195.02 and the second major support level at $189.54.
Finding late support, Ethereum broke back through the major support levels before falling back through the first major support level.
At the time of writing, Ethereum was down by 0.33% to $193.96. A mixed start to the day saw Ethereum rise to an early morning high $195.64 before falling to a low $193.24.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $200 levels to support a run at the first major resistance level at $204.73.
Support from the broader market would be needed, however, for Ethereum to breakout from Wednesday’s high $204.73.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
Failure to move back through to $200 levels could see Ethereum fall deeper into the red.
A fall back through the morning low $193.24 to sub-$193 levels would bring the first major support level at $182.75 into play.
Barring an extended crypto sell-off, Ethereum should continue to steer clear of sub-$180 support levels.
Looking at the Technical Indicators
Major Support Level: $182.75
Major Resistance Level: $204.73
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 1.45% on Wednesday. Reversing a 1.16% gain from Tuesday, Ripple’s XRP ended the day at $0.20936.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.21416 before hitting reverse.
Falling short of the first major resistance level at $0.2172, Ripple’s XRP slid to a late afternoon intraday low $0.20012.
Falling through the first major support level at $0.2070, Ripple’s XRP found support at the second major support level at $0.2015.
Ripple’s XRP recovered to $0.21 levels in the final hour before wrapping up the day at $0.2090 levels.
At the time of writing, Ripple’s XRP down by 0.19% to $0.20896. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.21095 before falling to a low $0.20852.
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 $0.21 levels to support a run at the first major resistance level at $0.2156.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.21416.
Barring a broad-based crypto rally, the first major resistance level will likely limit any upside.
Failure to move back through to $0.21 levels could see Ripple’s XRP fall deeper into the red.
A fall back through to sub-$0.2080 levels would bring the first major support level at $0.2016 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1938.
Looking at the Technical Indicators
Major Support Level: $0.2016
Major Resistance Level: $0.2156
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire
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