EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 03/02/20

EOS

EOS rose by 1.65% on Sunday. Following on from a 0.11% gain on Saturday, EOS ended the week up 15.8% to $4.2263.

A mixed start to the day saw EOS fall to an early morning intraday low $4.0500 before finding support.

EOS fell through the first major support level at $4.0730 before bouncing back to a mid-day intraday high $4.3458.

EOS broke through the first major resistance level at $4.2640 before sliding back to $4.22 levels.

Through the latter part of the day, EOS broke back through the first major resistance level before a late pullback.

At the time of writing, EOS was up by 1.23% to $4.2784. A mixed start to the day saw EOS fall to an early morning low $4.2000 before striking a high $4.3000.

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

For the day ahead

EOS would need to move back through to $4.30 levels to support a run at the first major resistance level at $4.3647.

Support from the broader market would be needed, however, for EOS to break back through Sunday’s high $4.3458.

Barring an extended crypto rally, the first major resistance level, and Sunday’s high would likely limit in any upside.

Failure to move back through to $4.30 levels could see EOS fall back into the red.

A pullback through to sub-$4.2075 levels would bring the first major support level at $4.0689 into play.

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

Looking at the Technical Indicators

Major Support Level: $4.0689

Major Resistance Level: $4.3647

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 2.62% on Sunday. Following on from a 2.10% gain on Saturday, Ethereum ended the week up 12.36% to $188.29.

Tracking the broader market, Ethereum fell to an early morning intraday low $178.98 before finding support.

Ethereum fell through the first major support level at $180.27 before rallying to a mid-afternoon intraday high $193.52.

Ethereum broke through the day’s major resistance levels before falling back through the third major resistance level at $192.63.

In spite of the late pullback, Ethereum held above the second major resistance level at $187.43.

At the time of writing, Ethereum was up by 1.65% to $191.39. A mixed start to the day saw Ethereum fall to an early morning low $187.00 before striking a high $191.91.

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

For the day ahead

Ethereum would need to move through to $192 levels to support a run at the first major resistance level at $194.88.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $193.52.

Barring a broad-based crypto rebound, Ethereum would likely come up short of $194 levels and the first major resistance level at $194.88.

In the event of an extended crypto rally, Ethereum could eye $200 levels before any pullback.

Failure to move through to $192 levels could see Ethereum hit reverse.

A fall through the morning low $187 would bring the first major support level at $180.34 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $172.39.

Looking at the Technical Indicators

Major Support Level: $180.34

Major Resistance Level: $194.88

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 3.93% on Sunday. Following on from a 0.71% gain on Saturday, Ripple’s XRP ended the week up 8.54% to $0.25128.

A choppy start to the day saw Ripple’s XRP fall to an early morning intraday low $0.2360 before striking a mid-day intraday high $0.26248.

Ripple’s XRP fell through the first major support level at $0.2382 before breaking through the day’s major resistance levels.

A late pullback saw Ripple’s XRP fall back through the third major resistance level at $0.2538. In spite of the pullback, Ripple’s XRP held onto $0.25 levels for the first time since 20^th November.

At the time of writing, Ripple’s XRP was up by 1.80% to $0.25580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.25010 before striking a high $0.25613.

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 to $0.26 levels to support a run at the first major resistance level at $0.2638.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.26248.

Barring a broad-based crypto rebound, the first major resistance level at $0.2638 and Sunday’s high would likely limit any upside on the day.

Failure to move back through to $0.26 levels could see Ripple’s XRP fall back into the red.

A fall back through the morning low to sub-$0.25 levels would bring the first major support level at $0.2374 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: $0.2374

Major Resistance Level: $0.2638

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