It's a mixed start to the day for the majors. Failure to move back through the morning highs could see the pack come under pressure later in the day.
EOS rallied by 17.51% on Monday. Following on from an 11.02% gain from last week, EOS ended the day at $2.7687.
A bullish day saw EOS rally from an early morning intraday low $2.3540 to a final hour intraday high $2.7757.
Steering clear of the major support levels, EOS broke through the major resistance levels for the day. In spite of easing back from $2.77 levels, EOS held above the third major resistance level at $2.5023.
At the time of writing, EOS was down by 0.68% to $2.7499. A mixed start to the day saw EOS rise to an early morning high $2.8319 before falling to a low $2.7395.
EOS left the major support and resistance levels untested early on.
EOS would need to move back through to $2.80 levels to support a run at the first major resistance level at $2.9116.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.8319.
Barring another extended crypto rally, resistance at $2.85 would likely leave EOS short of the first major resistance level.
Failure to move back through to $2.80 levels could see EOS fall deeper into the red.
A fall back through to sub-$2.6330 levels would bring the first major support level at $2.49 into play.
Barring a crypto meltdown, however, EOS should continue to steer well clear of the second major support level at $2.2111.
Major Support Level: $2.4899
Major Resistance Level: $2.9116
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rallied by 20.11% on Monday. Following on from a 14.76% rally from last week, Ethereum ended the day at $171.50.
It was a particularly bullish day. Ethereum rallied from an early morning intraday low $142.79 to a final hour intraday high $172.19.
Steering clear of the major support levels, Ethereum broke through the day’s major resistance levels. In spite of easing back from $172 levels, Ethereum held well above the third major resistance level at $153.53.
At the time of writing, Ethereum was down by 0.47% to $170.69. A mixed start to the day saw Ethereum rise to an early morning high $176.82 before falling to a low $169.52.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through the morning high $176.82 to support a run at the first major resistance level at $181.53.
Support from the broader market would be needed, however, for Ethereum to breakthrough to $180 levels.
Barring an extended crypto rally, the first major resistance level at $181.53 would likely limit any upside.
Failure to move back through the morning high could see Ethereum struggle later in the day.
A fall through to sub-$162.20 levels would bring the first major support level at $152.13 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$160 levels on the day.
Major Support Level: $152.13
Major Resistance Level: $181.53
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rallied by 10.63 on Sunday. Following on from a 10.15% rally from last week, Ripple’s XRP ended the day at $0.19864.
Tracking the broader market, Ripple’s XRP rallied from an early morning intraday low $0.17954 to a final hour intraday high $0.19900.
Steering clear of the major support levels, Ripple’s XRP broke through the major resistance levels of the day.
While easing back from $0.199 levels, Ripple’s XRP avoided a fall back through the third major resistance level at $0.1913.
At the time of writing, Ripple’s XRP was up by 0.98% to $0.20059. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19769 to a high $0.20500.
Steering clear of the major support levels, Ripple’s XRP came up against the first major resistance level at $0.2052.
Ripple’s XRP will need to avoid sub-$0.1925 levels to support another run at the first major resistance level at $0.20520.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20500.
Barring an extended crypto rally, the first major resistance level at $0.20520 would likely limit any upside on the day.
In the event of a breakout, the second major resistance level at $0.2119 would likely come into play.
Failure to avoid sub-$0.1925 levels could see Ripple’s XRP struggle later in the day.
A fall through the morning low $0.1925 levels would bring the first major support level at $0.1859 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.19 levels on the day.
Major Support Level: $0.1858
Major Resistance Level: $0.2052
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 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.