In This Article:
EOS
EOS slid by 6.31% on Wednesday. Following on from a 5.35% loss on Tuesday, EOS ended the day at $3.3497.
It was a mixed start to the day. EOS rose to an early morning intraday high $3.6295 before hitting reverse.
Falling short of the first major resistance level at $3.7944, EOS slid to a late intraday low $3.2119.
EOS fell through the first major support level at $3.4097 and the second major support level at $3.2416.
Finding support late in the day, EOS broke back through the second major support level to cut the deficit.
At the time of writing, EOS was up by 1.11% to $3.3869. A bullish start to the day saw EOS rise from an early morning low $3.3451 to a high $3.3958.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through the $3.3970 pivot level to support a run at the first major resistance level at $3.5822.
Support from the broader market would be needed, however, for EOS to break back through to $3.50 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $3.6295 would likely cap any upside.
Failure to move back through the pivot level at $3.3970 would bring the first major support level at $3.1646 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level sits at $2.9794.
Looking at the Technical Indicators
First Major Support Level: $3.1646
Pivot Level: $3.3970
First Major resistance Level: $3.5822
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 3.49% on Wednesday. Following on from a 2.13% decline on Tuesday, Ethereum ended the day at $407.59.
A bullish start to the day saw Ethereum rise to an early morning intraday high $426.97 before hitting reverse.
Falling short of the first major resistance level at $432.87, Ethereum slid to a late intraday low $393.75.
Ethereum fell through the first major support level at $413.15 and the second major support level at $403.99.
Finding late support, Ethereum moved back through the second major support level to limit the loss on the day.
At the time of writing, Ethereum was up by 1.15% to $412.27. A bullish start to the day saw Ethereum rise from an early morning low $407.59 to a high $412.37.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall back through the $409.44 pivot to support a run at the first major resistance level at $425.12.
Support from the broader market would be needed, however, for Ethereum to break back through to $420 levels.