EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 01/02/20

EOS

EOS slid by 3.77% on Friday. Partially reversing a 9.06% rally from Thursday, EOS ended the month up 60.5% to $4.1579.

A bearish start to the day saw EOS fall from an early morning intraday high $4.3696 to an early afternoon intraday low $4.0272.

Steering clear of the first major support level at $4.0135, EOS recovered to $4.10 levels to limit the loss.

At the time of writing, EOS was up by 1.41% to $4.2166. A bullish start to the day saw EOS rise from an early morning low $4.1499 to a high $4.2168.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to move through to $4.25 levels to support a run at the first major resistance level at $4.3426.

Support from the broader market would be needed, however, for EOS to break back through to $4.30 levels.

Barring an extended crypto rally, the first major resistance level at $4.3426 and Friday’s high $4.3696 would likely limit in any upside.

Failure to move through $4.25 levels could see EOS return to the red.

A fall back through to sub-$4.1850 levels would bring the first major support level at $4.0002 into play.

Barring a broad-based crypto sell-off, however, EOS should steer well clear of sub-$4.00 levels.

Looking at the Technical Indicators

Major Support Level: $4.0002

Major Resistance Level: $4.3426

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.59% on Friday. Partially reversing a 6.42% rally from Thursday, Ethereum ended the month up 39.8% to $179.74.

Tracking the broader market, Ethereum fell from an early morning intraday high $185.68 to an early afternoon intraday low $175.00.

Steering clear of the first major support level at $174.07, Ethereum recovered to $179 levels to limit the downside.

At the time of writing, Ethereum was up by 1.31% to $182.10. A bullish start to the day saw Ethereum rise from an early morning low $179.00 to a high $182.71.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move through to $184 levels to support a run at the first major resistance level at $185.28.

Support from the broader market would be needed, however, for Ethereum to break through to $185.

Barring an extended crypto rally, the first major resistance level at $185.28 and Friday high $185.68 should cap any upside.

Failure to move through to $184 levels could see Ethereum hit reverse.

A fall through to sub-$180.00 levels would bring the first major support level at $174.60 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$170 levels on the day.

Looking at the Technical Indicators

Major Support Level: $174.60

Major Resistance Level: $185.28

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 1.45% on Friday. Partially reversing a 3.43% rally from Thursday, Ripple’s XRP ended the month up 24.20% to $0.23987

A bearish start to the day saw Ripple’s XRP slide from an early morning intraday high $0.24478 to an afternoon intraday low $0.23410.

Finding late support, Ripple’s XRP bounced back to $0.24 levels late in the day before easing back to sub-$0.24 levels.

The first major support level at $0.2342 limited the downside on the day.

At the time of writing, Ripple’s XRP was up by 0.78% to $0.24174. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.23926 before rising to a high $0.24220.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through the morning high $0.24220 to support a run at the first major resistance level at $0.2451.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.24478.

Barring an extended crypto rally, the first major resistance level at $0.2451 and Friday high would likely limit any upside on the day.

Failure to move back through the morning high $0.24220 could see Ripple’s XRP fall back into the red.

A fall through to sub-$0.2395 levels would bring the first major support level at $0.2344 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer of sub-$0.23 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.2344

Major Resistance Level: $0.2451

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob