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

It’s a mixed start to the day, with Ripple’s XRP bucking the trend early on. Failure to move through early highs will bring support levels into play.
Bob Mason
Ripple, Dash coin, Bitcoin, Monero and Ethereum

EOS

EOS rose by 1.69% on Friday. Following on from a 1.28% gain on Thursday, EOS ended the day at $2.3342.

A bullish start to the day saw EOS rise to a late morning intraday high $2.3883 before hitting reverse.

Falling short of the first major resistance level at $2.4690, EOS fell to a late afternoon intraday high $2.2720.

Steering well clear of the first major support level at $2.1909, EOS recovered to $2.30 levels to end the day in the green.

At the time of writing, EOS was down by 0.78% to $2.3159. A mixed start to the day saw EOS rise to an early morning high $2.3471 before falling to a low $2.3000.

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

For the day ahead

EOS would need to move through to $2.33 levels to support a run at the first major resistance level at $2.3910.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.3883.

Barring an extended crypto rally, resistance at $2.40 would likely leave EOS short of the second major resistance level at $2.4478.

Failure to move back through to $2.33 levels could see EOS fall deeper into the red.

A fall back through the morning low $2.30 would bring the first major support level at $2.2747 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of the second major support level at $2.2152.

Looking at the Technical Indicators

Major Support Level: $2.2747

Major Resistance Level: $2.3910

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 rose by just 0.04% on Friday. Following on from a 3.96% rally on Thursday, Ethereum ended the day at $141.54.

Tracking the broader market, Ethereum rallied to a late morning intraday high $144.79 before hitting reverse.

Falling short of the first major resistance level at $149.50, Ethereum slid to a late afternoon intraday low $138.00.

Steering clear of the first major support level at $134.56, Ethereum found late support from the broader market to end the day flat.

At the time of writing, Ethereum was down by 0.52% to $140.8. A mixed start to the day saw Ethereum rise to an early morning high $142.45 before falling to a low $139.04.

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

For the day ahead

Ethereum would need to move back through to $142 levels to support a run at the first major resistance level at $146.23.

Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $142.45.

Barring an extended crypto rally, the first major resistance level at $146.23 would likely leave Ethereum short of $150 levels.

Failure to move back through to $142 levels could see Ethereum struggle later in the day.

A fall through to sub-$140 levels would bring the first major support level at $137.42 into play.

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

Looking at the Technical Indicators

Major Support Level: $137.42

Major Resistance Level: $146.23

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 0.59% on Friday. Following on from a 1.53% gain on Thursday, Ripple’s XRP ended the day at $0.17969.

A relatively bullish day saw Ripple’s XRP rally to a noon intraday high $0.1830 before hitting reverse.

Falling short of the first major resistance level at $0.1859, Ripple’s XRP fell to a late afternoon intraday low $0.1765.

Steering clear of the first major support level at $0.1734, Ripple’s XRP briefly visited $0.18 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.17971. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.17800 to a high $0.18027.

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 $0.18 levels to support a run at the first major resistance level at $0.1830.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.18027.

Barring an extended crypto rally, the first major resistance level at $0.1830 would likely limit any upside on the day.

Failure to move back through to $0.18 levels could see Ripple’s XRP slide back into the red.

A fall through the morning low $0.17800 would bring the first major support level at $0.1765 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1732.

Looking at the Technical Indicators

Major Support Level: $0.1765

Major Resistance Level: $0.1830

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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