In This Article:
EOS
EOS rose by 0.69% on Wednesday. Following Tuesday’s 7.30% slide, EOS ended the day at $3.0255.
It was a bearish start to the day. EOS fell to a mid-morning intraday low $2.8823 before making a move.
Steering clear of the first major support level at $2.8177, EOS rose to an early afternoon intraday high $3.0551.
Falling short of the first major resistance level at $3.2480, EOS fell back to sub-$3.00 levels before finding late support.
The late move back through to $3.00 levels delivered the upside for the day.
At the time of writing, EOS was up by 0.13% to $3.0296. A mixed start to the day saw EOS fall to an early morning low $3.0148 before rising to a high $3.0331
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.9876 pivot level to support a run at the first major resistance level at $3.0930.
Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.0551.
Barring an extended crypto rally, the major first resistance level and Wednesday’s would likely cap any upside.
A fall through the $2.9876 pivot would bring the first major support level at $2.9202 into play.
Barring another extended sell-off, however, EOS should steer clear of the second major support level at $2.8148.
Looking at the Technical Indicators
First Major Support Level: $2.9202
Pivot Level: $2.9876
First Major Resistance Level: $3.0930
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 2.20% on Wednesday. Partially reversing a 4.27% slide from Tuesday, Ethereum ended the day at $387.27.
A bearish start to the day saw Ethereum fall to a mid-morning intraday low $365.19 before finding support.
While steering clear of the first major support level at $363.00, Ethereum fell through the 38.2% FIB of $367.00.
Finding support through the rest of the day, Ethereum rallied to a late intraday high $389.57.
Falling short of the first major resistance level at $396.53, Ethereum eased back to limit the upside on the day.
At the time of writing, Ethereum was up by 0.30% to $388.42. A mixed start to the day saw Ethereum fall to an early morning low $386.55 before rising to a high $388.52.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $380.68 pivot to support a run at the first major resistance level at $396.16.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $389.57.