EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 05/04/20

EOS

EOS rose by 1.25% on Saturday. Following on from a 1.69% gain on Friday, EOS ended the day at $2.3654.

A choppy start to the day saw EOS rise to a late morning intraday high $2.3514 before hitting reverse.

Falling short of the first major resistance level at $2.3910, EOS fell to a late morning intraday low $2.2893.

Steering clear of the first major support level at $2.2747, EOS rallied to a late intraday high $2.4072 before easing back.

EOS broke through the first major resistance level at $2.3910 before wrapping up the day at $2.36 levels.

At the time of writing, EOS was down by 0.19% to $2.3608. A mixed start to the day saw EOS rise to an early morning high $2.3799 before falling to a low $2.3569.

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

For the day ahead

EOS would need to move through to $2.37 levels to support a run at the first major resistance level at $2.4186.

Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.4072.

Barring an extended crypto rally, resistance at $2.40 would likely leave EOS short of the first major resistance level at $2.4186.

Failure to move back through to $2.37 levels could see EOS fall deeper into the red.

A fall back through the morning low $2.3569 to sub-$2.35 levels would bring the first major support level at $2.3007 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.2361.

Looking at the Technical Indicators

Major Support Level: $2.3007

Major Resistance Level: $2.4186

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.12% on Saturday. Following on from a 0.04% gain on Friday, Ethereum ended the day at $144.48.

A bearish start to the day saw Ethereum fall to an early morning intraday low $139.04 before finding support.

Steering clear of the first major support level at $137.42, Ethereum struck a late morning high $144.38 before sliding back.

Falling short of the first major resistance level at $146.23, Ethereum fell back to $140 levels before making a move.

A bullish afternoon saw Ethereum rally to a late intraday high $146.69 before easing back. The first major resistance level at $146.23 pinned Ethereum back on the day.

At the time of writing, Ethereum was down by 0.22% to $144.16. A mixed start to the day saw Ethereum rise to an early morning high $145.98 before falling to a low $143.76.

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

For the day ahead

Ethereum would need to move back through to $145 levels to support a run at the first major resistance level at $147.77.

Support from the broader market would be needed, however, for Ethereum to breakout from Saturday’s high $146.69.

Barring an extended crypto rally, the first major resistance level at $147.77 would likely leave Ethereum short of $150 levels.

Failure to move back through to $145 levels could see Ethereum struggle later in the day.

A fall through to sub-$143.40 levels would bring the first major support level at $140.12 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$140 support levels.

Looking at the Technical Indicators

Major Support Level: $140.12

Major Resistance Level: $147.77

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 1.17% on Saturday. Following on from a 0.59% gain on Friday, Ripple’s XRP ended the day at $0.18182.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.1780 before making a move.

Steering clear of the first major support level at $0.1765, Ripple’s XRP struck a late morning high $0.18219.

Coming up against the first major resistance level at $0.1830, Ripple’s XRP fell back to $0.1780 levels before making a move.

An afternoon rally saw Ripple’s XRP break through the first major resistance level to strike a late intraday high $0.18389.

A late pullback, however, left Ripple’s XRP at $0.181 levels.

At the time of writing, Ripple’s XRP was down by 0.45% to $0.18101. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.18268 before falling to a low $0.18085.

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 $0.1815 levels to support a run at the first major resistance level at $0.1845.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.18389.

Barring an extended crypto rally, the first major resistance level at $0.1845 would likely limit any upside on the day.

In the event of a breakout, Ripple’s XRP could break through the second major resistance level at $0.1871 to visit $0.19 levels.

Failure to move back through to $0.1815 levels could see Ripple’s XRP slide deeper into the red.

A fall through the morning low $0.18085 would bring the first major support level at $0.1786 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1753.

Looking at the Technical Indicators

Major Support Level: $0.1786

Major Resistance Level: $0.1845

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