It’s a bullish start to the day. A move back through the early highs should lead to a break out later in the day.
EOS rose by 2.39% on Monday. Following on from a 6% rally on Sunday, EOS ended the day at $3.8797.
Tracking the broader market through the morning, EOS slid to a mid-morning intraday low $3.6232.
Steering clear of the first major support level at $3.5937, EOS rallied to a late morning intraday high $3.9668.
The late morning rally saw EOS break through the first major resistance level at $3.9043.
Finding strong resistance on the run-up to $4.00 levels, EOS slipped back to an afternoon low $3.7888 before finding support.
EOS recovered to $3.90 levels before easing back to wrap up the day at $3.87 levels.
In spite of the last week’s gains and a bullish start to the week, the extended bearish trend, formed back at April 2018’s swing hi $23.03, remained firmly intact. EOS continued to fall short of the 23.6% FIB of $6.62 following a pullback from $8.65 levels in late June.
At the time of writing, EOS was up by 0.69% to $3.9063. A relatively bullish start to the day saw EOS rise from an early morning low $3.8781 to a high $3.9233.
EOS left the major support and resistance levels untested early on.
EOS would need to move through to Monday’s high $3.9668 would bring the first major resistance level at $4.0233 into play.
EOS would need the support of the broader market, however, to break out from this morning’s high $3.9233.
Barring an extended crypto rally through the day, however, EOS would likely fall short of $4.00 levels.
Failure to move through to Monday’s high could see EOS hit reverse. A fall through to $3.82 levels would bring the first major support level at $3.6797 into play.
Barring a crypto meltdown, however, EOS should steer clear of sub-$3.7 levels on the day.
Major Support Level: $3.6797
Major Resistance Level: $4.0233
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum slipped by 0.51% on Monday. Partially reversing a 1.95% gain from Sunday, Ethereum ended the day at $180.63.
A bearish start to the day saw Ethereum slide to a mid-morning intraday low $176.11. Ethereum fell through the first major support level at $176.80 before finding support from the broader market.
Tracking the broader market, Ethereum bounced back to a late morning intraday high $186. Ethereum broke through the first major resistance level at $185.72 before hitting reverse.
The reversal saw Ethereum slide back to an afternoon low $178.41 before finding support.
Steering clear of the major support levels, Ethereum managed to move back through to $182 levels before easing into the red in the final hour.
The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.
At the time of writing, Ethereum was up by 1.77% to $183.82. A bullish start to the day saw Ethereum rise from an early morning low $180.61 to a high $184.55.
Ethereum left the major support and resistance levels untested in spite of the early rally.
Ethereum would need to steer clear of sub-$181 levels to support another run at the first major resistance level at $185.72.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $184.55.
In the event of an extended crypto rally, Ethereum could test the second major resistance level at $190.80 before any pullback.
Failure to steer clear of sub-$181 levels could see Ethereum slide back to $178 levels before any recovery.
Barring a crypto meltdown, however, Ethereum should steer clear of the first major support level at $175.83.
Major Support Level: $175.83
Major Resistance Level: $185.72
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
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EOS rose by 2.39% […]
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