EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 01/04/20

EOS

EOS fell by 0.62% on Tuesday. Partially reversing a 5.27% rally from Monday, EOS ended the day at $2.2159.

A bearish month saw EOS tumble by 37.27%. The sell-off reversed gains from early in the year to end the quarter down by 14.45%.

A relatively bullish start to the day saw EOS rise to an early morning intraday high $2.2614 before hitting reverse.

Falling short of the first major resistance level at $2.3069, EOS slid to a late morning intraday low $2.1860.

Steering clear of the first major support level at $2.1375, EOS recovered to $2.25 levels before a late pullback into the red.

At the time of writing, EOS was up by 0.02% to $2.2163. A mixed start to the day saw EOS fall from an early morning high $2.2255 to a low $2.1920.

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

For the day ahead

EOS would need to move through to $2.2175 levels to support a run at the first major resistance level at $2.2487.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.2255.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

Failure to move back through to $2.2175 levels could see EOS hit reverse.

A fall back through to sub-$2.20 levels would bring the first major support level at $2.1845 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.10 levels. The second major support level at $2.1532 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $2.1845

Major Resistance Level: $2.2487

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.59% on Tuesday. Following on from a 6.34% rally on Monday, Ethereum ended the day at $133.08.

A bearish month saw Ethereum slide by 38.77%. In spite of the sell-off, Ethereum gained 3.53% in the 1^st quarter.

Tracking the broader market, Ethereum rose to an early morning high $134.33 before hitting reverse.

Falling short of the major resistance levels, Ethereum fell to a mid-morning intraday low $130.45 before finding support.

Steering clear of the first major support level at $125.75, Ethereum struck a late intraday high $135.35 before easing back.

In spite of the breakout, Ethereum fell short of the first major resistance level at $137.18.

At the time of writing, Ethereum was down by 0.11% to $132.94. A mixed start to the day saw Ethereum fall from an early morning high $133.62 to a low $131.13.

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

For the day ahead

Ethereum would need to move back through to $133 levels to support a run at the first major resistance level at $135.47.

Support from the broader market would be needed, however, for Ethereum to break back through to $135 levels.

Barring an extended crypto rally, the first major resistance level at $135.47 would likely limit any upside.

Failure to move back through the morning high to $133 levels could see Ethereum struggle later in the day.

A fall through to sub-$132 levels would bring the first major support level at $130.57 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $128.06.

Looking at the Technical Indicators

Major Support Level: $130.57

Major Resistance Level: $135.47

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 1.49% on Tuesday. Following on from a 5.22% rally on Monday, Ripple’s XRP ended the day at $0.17407.

A bearish month saw Ripple’s XRP slide by 24.32%. The sell-off reversed gains from early in the year to end the quarter down by 9.87%.

A relatively mixed start saw Ripple’s XRP fall to an early morning intraday low $0.17074 before finding support.

Steering clear of the first major support level at $0.1643, Ripple’s XRP rallied to a late intraday high $0.17853.

Ripple’s XRP broke through the first major resistance level at $0.1775 before pulling back to $0.1740 levels.

At the time of writing, Ripple’s XRP was up by 0.36% to $0.17470. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.17200 before striking a high $0.17489.

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

For the day ahead

Ripple’s XRP will need to move back through the morning high $0.17489 to support a run at the first major resistance level at $0.1782.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.1780 levels.

Barring an extended crypto rally, the first major resistance level at $0.1782 would likely leave Ripple’s XRP short of $0.18 levels.

Failure to move back through the morning high $0.17489 could see Ripple’s XRP hit reverse

A fall back through to sub-$0.1740 levels would bring the first major support level at $0.1704 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.17 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.1704

Major Resistance Level: $0.1782

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