In This Article:
EOS
EOS tumbled by 8.86% on Thursday. Reversing a 0.37% gain from Wednesday, EOS ended the day at $2.5193.
A relatively bullish start to the day saw EOS rise to an early morning intraday high $2.7772 before hitting reverse.
Falling well short of the first major resistance level at $2.7958, EOS tumbled to a late afternoon intraday low $2.4250.
The reversal saw EOS fall through the major support levels before a move back through to $2.54 levels.
In spite of the partial recovery, however, EOS failed to break back through the third major support level at $2.6039.
A bearish end to the day left EOS back at sub-$2.52 levels.
At the time of writing, EOS was down by 0.87% to $2.4973. A bearish start to the day saw EOS fall from an early morning high $2.5132 to a low $2.4891.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $2.5740 levels to take bring the first major resistance level at $2.7227 into play.
Support from the broader market would be needed, however, for EOS to break back through to $2.60 levels.
Barring an extended crypto rally, resistance at $2.60 would likely leave EOS short of the first major resistance level at $2.7227.
Failure to move through the $2.5740 pivot could see EOS struggle for another day.
A fall back through Thursday’s low $2.4250 would bring the first major support level at $2.3705 into play.
Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $2.2216.
Looking at the Technical Indicators
Major Support Level: $2.3705
Major Resistance Level: $2.7227
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 7.22% on Thursday. Reversing a 1.64% gain from Wednesday, Ethereum ended the day at $230.15.
Tracking the broader market, Ethereum rose to an early morning intraday high $250.26 before hitting reverse.
Falling short of the first major resistance level at $251.68, Ethereum slid to a late afternoon intraday low $225.2.
The meltdown saw Ethereum fall through the day’s major support levels before finding support.
Late in the day, Ethereum moved back through the third major support level at $230.04 to limit the downside.
At the time of writing, Ethereum was down by 0.10% to $229.93. A bearish start to the day saw Ethereum fall from an early morning high $230.15 to a low $227.84.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $235 levels to support a run at the first major resistance level at $245.21.