EOS And Ethereum Price Analysis

EOS lost 6.10% on Monday, reversing Sunday’s 7.03% rally that saw the digital currency trade at $4.1278 at the end of the day.

Early morning bears saw EOS drop intraday highs of $4.4124 to an afternoon intraday low of $3.9108.

The digital currency also fell through the first major support level at $4.1910 and 2nd major support at $3.9826. EOS later went on to find support later on and moved back through the second major support level to end the day at $4.1278.

At the time of press, EOS was down to $4.0678, a 1.45% correction. The digital currency also experienced a bearish start to the new day from an early morning peak at $4.1501 to $4.0394. Major support and resistance levels were left untested at the time.

EOS’ Day Ahead

Looking at the day ahead, EOS would need to move back through to $4.15 level for a run at the first major resistance at $4.3899.

The digital currency needs support from the broader market to break out from $4.1501 early morning high. It is likely that EOS will fall short of $4.30 as the day culminates.

In case that fails and EOS fails to retrace back to $4.15, it is possible for the cryptocurrency to fall deeper in the red. Falling back from the morning low of $4.0394 would bring an initial support level at $3.8883.

An extended crypto sell-off could steer EOS way from sub $3.80 level.

Ethereum Analysis

Meanwhile, Ethereum lost 3.69% on Monday. Reversing 5.17% gains from Sunday to end the day at $265.31.

The world #2 cryptocurrency began the next day on a high, striking an early morning intraday high at $278.13 before a retracement.

Later in the afternoon, Ethereum fell short of a major resistance level at $280.89. The crypto went on to slide to a late afternoon intraday low of $256.06.

The world #2 fell through a major support level at $265.8 and 23.6% FIB of $257. Ethereum later went on to move back through the same FIB, finding support at $256.12. Major support at $265.8 resisted Ethereum’s recovery.

At the moment, Ethereum is down to $261.35, a 1.49% correction. A bearish start to the day saw the cryptocurrency fall from a morning high of $266.24 to $260.62. Major support and resistance levels remain untested.


ETH’s Days Prediction

In the day ahead, the cryptocurrency needs to move through to $266.5 in order to push the first resistance level at $276.94.

Ethereum also needs support from the broader markets to break through to $270. If ETH fails to move through to $266.5, it could fall in the red zone.