EOS rallied by 4.74% on Thursday. Reversing a 0.87% decline from Wednesday, EOS ended the day at $3.7780.
A bullish day saw EOS rally from an early morning intraday low $3.6070 to a late afternoon intraday high $3.8492.
EOS broke through the first major resistance level at $3.6822 and the second major resistance level at $3.7592.
While EOS fell back to sub-3.80 levels late on, EOS managed to wrap up the day above the second major resistance level.
At the time of writing, EOS was down by 0.06% to $3.7756. A bearish start to the day saw EOS fall from an early morning high $3.7891 to a low $3.7419 before finding support.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through the morning high $3.7891 to $3.80 levels to bring the first major resistance level at $3.8825 into play.
Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $3.8492.
Barring a broad-based crypto rally, the first major resistance level at $3.8825 and Thursday’s high should limit any upside.
Failure to move back through the morning high to $3.80 levels could see EOS hit reverse.
A fall back through to sub-$3.75 levels would bring the first major support level at $3.6403 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$3.60 levels.
Looking at the Technical Indicators
Major Support Level: $3.6403
Major Resistance Level: $3.8825
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 1.85% on Thursday. Following on from a 0.38% gain on Wednesday, Ethereum ended the day at $228.64.
A bullish start to the day saw Ethereum rally from an early morning intraday low $224.49 to an early afternoon intraday high $234.47.
Ethereum broke through the first major resistance level at $228.8 and the second major resistance level at $233.03.
A choppy 2nd half of the day saw Ethereum recover from…