EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 04/02/20

EOS

EOS fell by 0.41% on Monday. Partially reversing a 1.65% gain from Sunday, EOS ended the day at $4.2095.

A bullish start to the day saw EOS rally to an early morning intraday high $4.3811 before hitting reverse.

EOS broke through the first major resistance level at $4.3647 before sliding to a mid-afternoon intraday low $4.1336.

Steering clear of the first major resistance level at $4.0689, EOS recovered to $4.2 levels to limit the downside.

At the time of writing, EOS was down by 0.11% to $4.2047. A mixed start to the day saw EOS rise to an early morning high $4.2591 before falling to a low $4.2002.

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

For the day ahead

EOS would need to move back through to $4.2420 levels to support a run at the first major resistance level at $4.3492.

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 and Monday’s high $4.3811 would likely limit in any upside.

Failure to move back through to $4.3000 levels could see EOS slide deeper into the red.

A fall back through the morning low $4.2002 would bring the first major support level at $4.1017 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: $4.1017

Major Resistance Level: $4.3492

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.64% on Monday. Following on from a 2.62% rally on Sunday, Ethereum ended the day at $189.42.

A bullish start to the day saw Ethereum rally to an early morning intraday high $195.21 before hitting reverse.

Ethereum broke through the first major resistance level at $194.88 before sliding to an afternoon intraday low $186.25.

Steering well clear of the first major support level at $180.34, Ethereum bounced back to $191 levels before a late pullback.

The pullback saw Ethereum fall back to S187 levels before a move back to $189 levels and into the green.

At the time of writing, Ethereum was up by 0.26% to $189.91. A mixed start to the day saw Ethereum rise to an early morning high $191.37 before falling to a low $189.00.

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

For the day ahead

Ethereum would need to move through to $190.30 levels to support a run at the first major resistance level at $194.34.

Support from the broader market would be needed, however, for Ethereum to break back through to $194 levels.

Barring a broad-based crypto rebound, the first major resistance level at $194.34 would likely limit any upside.

In the event of an extended crypto rally, the second major resistance level at $199.25 would likely limit any upside.

Failure to move through to $190.30 levels could see Ethereum hit reverse.

A fall through the morning low $189 would bring the first major support level at $185.38 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $181.33.

Looking at the Technical Indicators

Major Support Level: $185.38

Major Resistance Level: $194.34

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 1.43% on Monday. Following on from a 3.93% rally on Sunday, Ripple’s XRP ended the day at $0.25497.

Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.26039 before hitting reverse.

Falling short of the first major resistance level at $0.2638, Ripple’s XRP slid to a mid-afternoon intraday low $0.24723.

Steering clear of the first major support level at $0.2374, Ripple’s XRP bounced back to $0.25 levels to wrap up the day in the green.

At the time of writing, Ripple’s XRP was down by 0.11% to $0.25468. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25810 before falling to a low $0.25321.

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 $0.2550 levels to support a run at the first major resistance level at $0.2612.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.26 levels.

Barring a broad-based crypto rebound, the first major resistance level at $0.2638 and Monday’s high $0.26039 would likely limit any upside on the day.

Failure to move back through to $0.2550 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the morning low $0.25321 would bring the first major support level at $0.2480 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer of sub-$0.24 levels on the day. The second major support level at $0.2410 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.2480

Major Resistance Level: $0.2612

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