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

EOS

EOS fell by 2.28% on Monday. Partially reversing a 6.06% rally from Monday, EOS ended the day at $3.6405.

A bearish start to the day saw EOS fall from an early morning intraday high $3.7299 to a late morning low $3.6239.

Steering clear of the major support and resistance levels, EOS struck a mid-day high $3.2799 before hitting reverse.

The reversal saw EOS slide to a late afternoon intraday low $3.5678 before finding support.

Steering clear of the first major support level at $3.5606, EOS recovered to $3.60 levels to limit the loss on the day.

At the time of writing, EOS was up by 0.90% to $3.6734. A bullish start to the day saw EOS rise from an early morning low $3.6171 to a high $3.6845.

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

For the day ahead

EOS would need to move back through the morning high $3.6845 to bring the first major resistance level at $3.7243 into play.

Support from the broader market would be needed, however, for EOS to break back through to $3.70 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $3.2799 should limit any upside.

Failure to move back through the morning high could see EOS hit reverse.

A fall back through to sub-$3.6460 levels would bring the first major support level at $3.5622 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$3.50 support levels.

Looking at the Technical Indicators

Major Support Level: $3.5622

Major Resistance Level: $3.7243

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 3.61% on Tuesday. Partially reversing a 6.85% rally from Monday, Ethereum ended the day at $218.19.

A mixed start to the day saw Ethereum rise from a mid-morning low $226.15 to a mid-day intraday high- $232.92.

Falling short of the first major resistance level at $239.16, Ethereum slid to a late afternoon intraday low $220.00.

Finding support at the first major support level at $220.41, Ethereum recovered to $225 levels before easing back.

At the time of writing, Ethereum was up by 1.84% to $227.86. A bullish start to the day saw Ethereum rise from an early morning low $221.87 to a high $228.83.

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

For the day ahead

Ethereum would need to move back through to $228 levels to bring the first major resistance level at $231.11 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $230 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $232.92 would likely limit any upside.

In the event of a breakout, Ethereum could visit $235 levels before any pullback.

Failure to move back through the morning high could see Ethereum hit reverse.

A fall through to sub-$225.50 levels would bring the first major support level at $218.19 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of the second major support level at $212.64.

Looking at the Technical Indicators

Major Support Level: $218.19

Major Resistance Level: $231.11

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 2.14% on Tuesday. Partially reversing a 5.50% gain from Monday, Ripple’s XRP ended the day at $0.23515.

Tracking the broader market, Ripple’s XRP fell from an early morning intraday high $0.24029 to a late morning low $0.23392.

Steering clear of the major support and resistance levels, Ripple’s XRP recovered to $0.2390 levels before hitting reverse.

The reversal saw Ripple’s XRP slide to a late afternoon intraday low $0.23059.

Finding support at the first major support level at $0.2305, Ripple’s XRP recovered to $0.2360 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.78% to $0.23698. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23348 to a high $0.23726.

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 $0.2380 levels to support a run at the first major resistance level at $0.2401.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.24029 would likely pin Ripple’s XRP back.

Failure to move back through to $0.2380 levels could see Ripple’s XRP struggle later in the day.

A fall back through to sub-$0.2355 levels would bring the first major support level at $0.2304 into play.

Barring a crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.2256.

Looking at the Technical Indicators

Major Support Level: $0.2304

Major Resistance Level: $0.2401

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