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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 03/04/20

It’s another mixed start to the day for the pack. A move through key levels would be needed to avoid a reversal…
Bob Mason
Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

EOS

EOS rose by 1.28% on Thursday. Following on from a 2.42% gain on Wednesday, EOS ended the day at $2.2987.

A mixed start to the day saw EOS rose to an early morning high $2.3174 before falling to a mid-morning low $2.2666.

Steering clear of the major support and resistance levels, EOS rallied to a late afternoon intraday high $2.5315.

EOS broke through the major resistance levels before sliding back through the major resistance levels to $2.25 levels.

Finding support late on, EOS moved back through to $2.30 levels before easing back in the final hour.

At the time of writing, EOS was up by 0.74% to $2.3157. A mixed start to the day saw EOS fall to an early morning low $2.2889 before striking a high $2.3309.

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

For the day ahead

EOS would need to move through to $2.36 levels to support a run at the first major resistance level at $2.4690.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.3309.

Barring an extended crypto rally, resistance at $2.40 would likely leave EOS short of the first major resistance level.

Failure to move back through to $2.36 levels could see EOS hit reverse.

A fall back through the morning low $2.2889 would bring the first major support level at $2.1909 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$2.10 levels.

Looking at the Technical Indicators

Major Support Level: $2.1909

Major Resistance Level: $2.4690

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

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Ethereum

Ethereum rallied by 3.96% on Thursday. Following on from a 2.30% rise on Wednesday, Ethereum ended the day at $141.53.

Bullish through most of the day, Ethereum rallied from an early morning intraday low $135.56 to a late afternoon intraday high $150.50.

Ethereum broke through the first major resistance level at $139.49 and the second major resistance level at $142.85.

The first visit to $150 levels since 12th March was short-lived, however, with Ethereum sliding back to sub-$140 levels.

Finding support late in the day, Ethereum moved back through to $140 levels to deliver the upside on the day.

At the time of writing, Ethereum was down by 0.14% to $141.33. A mixed start to the day saw Ethereum fall to an early morning low $140.70 before striking a high $142.89.

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

For the day ahead

Ethereum would need to move back through to $142.50 levels to support a run at the first major resistance level at $149.50.

Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $142.89.

Barring an extended crypto rally, resistance at $145 would likely leave Ethereum short of the first major resistance level.

Failure to move back through to $142.50 levels could see Ethereum struggle later in the day.

A fall through to sub-$140 levels would bring the first major support level at $134.56 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$135 levels.

Looking at the Technical Indicators

Major Support Level: $134.56

Major Resistance Level: $149.50

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 1.53% on Thursday. Following on from a 1.10% gain on Wednesday, Ripple’s XRP ended the day at $0.17874.

A relatively bullish day saw Ripple’s XRP rally from an early morning intraday low $0.17509 to a late afternoon intraday high $0.18759.

Ripple’s XRP broke through the first major resistance level at $0.1792 and the second major resistance level at $0.1824.

The return to $0.18 levels was short-lived, however, with Ripple’s XRP sliding back to sub-$0.0177 levels.

Ripple’s XRP fell back through the major resistance levels before finding late support to wrap up the day in the green.

At the time of writing, Ripple’s XRP was up by 0.03% to $0.17880. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.17810 before striking a high $0.18050.

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 $0.18050 to support a run at the first major resistance level at $0.1859.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.18 levels.

Barring an extended crypto rally, the first major resistance level at $0.1859 would likely limit any upside on the day.

Failure to move back through the morning high $0.1805 could see Ripple’s XRP slide back into the red.

A fall through the morning low $0.17810 would bring the first major support level at $0.1734 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1680.

Looking at the Technical Indicators

Major Support Level: $0.1734

Major Resistance Level: $0.1859

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

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