EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 01/03/20

EOS

EOS slipped by 0.21% on Saturday. Following on from a 2.56% fall on Friday, EOS ended the month down by 15.30% to $3.5233.

A bullish start to the day saw EOS rise to a mid-morning intraday high $3.6687 before hitting reverse.

Falling short of the first major resistance level at $3.6888, EOS fell to an early afternoon intraday low $3.5165.

Steering clear of the first major support level at $3.3611, EOS recovered to $3.62 levels before a late fall back into the red.

At the time of writing, EOS was up by 2.4% to $3.6079. A mixed start to the day saw EOS fall to an early morning low $3.5083 before striking a high $3.6334.

Steering clear of the major support levels, EOS broke through the first major resistance level at $3.6222 early on.

For the day ahead

EOS would need to break back through the first major resistance level at $3.6222 to bring $3.7 levels into play.

Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $3.6687.

Barring a broad-based crypto rally, the first major resistance level would likely leave EOS short of $3.70 levels once more.

Failure to move back through the first major resistance level could see EOS fall back into the red.

A fall back through to sub-$3.57 levels would bring the first major support level at $3.4709 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$3.30 levels.

The second major support level at $3.4185 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $3.4709

Major Resistance Level: $3.6222

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 4.32% on Saturday. Following on from a 0.10% decline on Friday, Ethereum ended the month up by 20.92% to $217.31.

A bullish start to the day saw Ethereum strike a mid-morning intraday high $233.32 before hitting reverse.

Falling short of the first major resistance level at $236.97, Ethereum slid to a final hour intraday low $216.83.

The reversal saw Ethereum fall through the first major support level at $215.7 before finding support.

At the time of writing, Ethereum was up by 2.52% to $222.78. A mixed start to the day saw Ethereum fall to an early morning low $215.99 before striking a high $225.78.

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

For the day ahead

Ethereum would need to break back through the morning high $225.78 to bring the first major resistance level at $228.14 back into play.

Support from the broader market would be needed, however, for Ethereum to break out from $225 levels.

Barring a broad-based crypto rebound, the first major resistance level should leave Ethereum short of $230 levels.

In the event of a breakout, expect $235 levels to come into play.

Failure to move back through the morning high could see Ethereum give up the early gains.

A fall through back through to sub-$222.50 levels would bring the first major support level at $211.65 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$210 support levels.

Looking at the Technical Indicators

Major Support Level: $211.65

Major Resistance Level: $228.14

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 3.13% on Saturday. Following on from a 0.48% decline on Friday, Ripple’s XRP ended the day at $0.2300.

Tracking the broader market, Ripple’s XRP struck a mid-morning intraday high $0.24299 before taking a hit.

Falling short of the first major resistance level at $0.2451, Ripple’s XRP fell to a final hour intraday low $0.23000.

Ripple’s XRP found support at $0.23 and the first major resistance level at $0.2296 at the day end.

At the time of writing, Ripple’s XRP was up by 1.71% to $0.23393. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.22944 before striking a high $0.23694.

Steering clear of the major support levels, Ripple’s XRP came within range of the first major resistance level at $0.2372.

For the day ahead

Ripple’s XRP will need to break back through the morning high to support a run at the first major resistance level at $0.2372.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2360 levels.

Barring an extended crypto rally, the first major resistance levels would likely pin Ripple’s XRP back from $0.25 levels.

Failure to move back through the morning high $0.23694 could see Ripple’s XRP fall back into the red.

A fall back through to sub-$0.2340 levels would bring the first major support level at $0.2264 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.22 levels on the day.

The second major support level at $0.2228 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.2264

Major Resistance Level: $0.2372

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