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EOS
EOS was up 0.90% on Thursday. After a 0.79% gain on Wednesday, EOS ended the day at $ 3.0540.
It was a bearish start to the day. EOS dropped to a mid-morning intraday low $ 2.9638 before making a move.
Avoiding the first major support level at $ 2.9367, EOS hit an intraday high $ 3.1066.
Failing to hit the first major resistance level at $ 3.1410, EOS pulled back to end the day below $ 3.10 levels.
At the time of writing, EOS was up 0.15% to $ 3.0585. A bullish start to the day saw EOS rise from a morning low $ 3.0535 to a high $ 3.0652.
EOS left the major support and resistance levels untested in the beginning.
For the day ahead
EOS should avoid a fall through the pivot level of $ 3.0415 to support a run at the first major resistance level at $ 3.1191.
However, support from the broader market would be needed for EOS to break out of Thursday’s high of $ 3.1066.
Barring another extended cryptocurrency rally, the first major resistance level at $ 3.1191 would likely limit any upside.
Failure to avoid a downside through the $ 3.0415 pivot would bring the first major support level at $ 2.9763 into play.
Barring an extended sell off, EOS should avoid the sub $ 2.90 levels and the second major support level at $ 2.8987.
Looking at the technical indicators
First major support level: $ 2.9763
Pivot Level: $ 3.0415
First major resistance level: $ 3.1191
23.6% FIB Retracement Level: $ 6.62
38% FIB Retracement Level: $ 9.76
62% FIB Retracement Level: $ 14.82
Ethereum
Ethereum was up 5.39% on Thursday. After a modest 0.20% rise from Wednesday, Ethereum ended the day at $ 335.31.
A mixed start saw Ethereum drop to a morning intraday low $ 314.52 before making a move.
Avoiding the first major support level at $ 311.93, Ethereum hit an intraday high $ 342.40.
Ethereum broke through the first major resistance level at $ 325.12 and the second major resistance level at $ 332.08.
Coming below the third major resistance level at $ 345.27, Ethereum has returned to levels below $ 340.
At the time of writing, Ethereum was up 0.08% to $ 335.58. A bullish start to the day saw Ethereum rise from a morning low $ 335.18 to a high $ 336.99.
Ethereum left the major support and resistance levels untested at the start.
For the day ahead
Ethereum should avoid a fall through the $ 330.74 pivot to support a run at the first major resistance level at $ 347.
However, support from the broader market would be needed for Ethereum to break out of Thursday’s high of $ 342.40.
Barring an extended cryptocurrency rally, the first major resistance level should limit any upside.
A downside through the pivot of $ 330.74 would bring the first major support level at $ 319 into play.
Barring an extended sell off, however, Ethereum should avoid the second major support level at $ 302.86.
Looking at the technical indicators
First major support level: $ 319
Pivot Level: $ 330.74
First major resistance level: $ 347
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Ripple’s XRP
Ripple’s XRP was up 0.36% on Thursday. After a 5.57% rally on Wednesday, Ripple’s XRP ended the day at $ 0.24462.
A bearish start to the day saw Ripple’s XRP drop to a morning intraday low $ 0.23425 before finding support.
Avoiding the first major support level at $ 0.2320, Ripple’s XRP rose to an intraday high of $ 0.25000.
Failing to hit the first major resistance level at $ 0.2530, Ripple’s XRP pulled back to limit the day’s upside.
At the time of writing, Ripple’s XRP was down by 0.03% to $ 0.24454. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.24602 before falling to a low $ 0.24443.
Ripple’s XRP left the major support and resistance levels untested at the start.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $ 0.2430 pivot to support a run to the first major resistance level at $ 0.2517.
However, support from the broader market would be needed for Ripple’s XRP to break out of Thursday’s high of $ 0.2500.
Barring another large-scale cryptocurrency rally, the first major resistance level should limit any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $ 0.2587 before any pullback.
Failure to avoid a fall through the $ 0.2430 pivot would bring the first major support level at $ 0.2359 into play.
Barring an extended cryptocurrency sell-off, Ripple’s XRP should avoid levels below $ 0.23 and the second major support level at $ 0.2272.
Looking at the technical indicators
First major support level: $ 0.2359
Pivot Level: $ 0.2430
First major resistance level: $ 0.2517
23.6% FIB Retracement Level: $ 0.3638
38.2% FIB Retracement Level: $ 0.4800
62% FIB Retracement Level: $ 0.6678
Let us know what you think in the comments below.
Thanks, Bob
