EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 14/01/20

EOS

EOS slid by 3.16% on Monday. Partially reversing a 7.57% rally from Sunday, EOS ended the day at $3.1070.

A bearish start to the day saw EOS slide from an early morning intraday high $3.2107 to a mid-morning intraday low $3.0651.

Falling well short of the first major resistance level at $3.3098, EOS came within range of the first major support level at $3.0253.

Finding support through the late morning, EOS recovered to $3.14 levels before sliding back to sub-$3.10 levels. A late in the day move back through to $3.10 levels reduced the deficit for the day.

At the time of writing, EOS was up by 2.77% to $3.1930. A bullish start to the day saw EOS rally from an early morning low $3.1054 to a high $3.2115.

Steering clear of the major support levels, EOS broke through the first major resistance level at $3.1901 early on.

For the day ahead

EOS would need to move back through to $3.20 levels to support a run at the second major resistance level at $3.2732.

Support from the broader market would be needed, however, for EOS to breakout from the morning high $3.2115.

Barring an extended broad-based crypto rally, resistance at $3.20 would likely cap any upside on the day.

Failure to move back through to $3.20 levels could see EOS hit reverse.

A fall back through to sub-$3.13 levels would bring the first major support level at $3.0445 into play.

Barring a crypto meltdown, however, EOS should steer clear of sub-$3.00 levels and the second major support level at $2.9820.

Looking at the Technical Indicators

Major Support Level: $3.0445

Major Resistance Level: $3.1901

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.07% on Monday. Partially reversing a 2.87% gain from Sunday, Ethereum ended the day at $143.51.

A particularly bearish start to the day saw Ethereum slide from an early morning intraday high $147 to a mid-morning intraday low $142.10.

Falling well short of the first major resistance level at $148.19, Ethereum fell through the first major support level at $143.42.

Steering clear of the second major support level at $140.24, Ethereum recovered to 2^nd half of a day high $144.84 before easing back.

At the time of writing, Ethereum was up by 2.05% to $146.45. A particularly bullish start to the day saw Ethereum rally from an early morning low $143.45 to a high $147.27.

Steering well clear of the major support levels, Ethereum broke through the first major resistance level at $146.31.

For the day ahead

Ethereum would need to hold above the first major resistance level to support another run at the second major resistance level at $149.10.

Support from the broader market would be needed for Ethereum to break through the morning high $147.27.

Barring an extended crypto rally, however, resistance at $147 would likely continue to cap any upside.

Failure to hold above the first major resistance level at $146.31 could see Ethereum give up the early gains.

A fall back through to sub-$144 levels would bring the first major support level at $141.41 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of sub-$140 levels and the second major support level at $139.3.

Looking at the Technical Indicators

Major Support Level: $141.41

Major Resistance Level: $146.31

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 1.84% on Monday. Reversing a 1.80% gain from Sunday, Ripple’s XRP ended the day at $0.21121.

Bearish through the day, Ripple’s XRP fell from an early morning intraday high $0.21549 to a mid-afternoon intraday low $0.20967.

Falling short of the major resistance levels, Ripple’s XRP fell through the first major support level at $0.2110.

Steering clear of the second major support level at $0.2067, Ripple’s XRP moved back through the first major support level to limit the downside on the day.

At the time of writing, Ripple’s XRP was up by 2.25% to $0.21597. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.21113 to a high $0.21604.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.2146.

For the day ahead

Ripple’s XRP will need to hold above the first major resistance level to support a run at the second major resistance level at $0.2179.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.21604.

Barring an extended crypto rally, Ripple’s XRP would likely fall short of $0.22 levels. The second major resistance level at $0.2179 would likely limit any upside.

Failure to hold above the first major resistance level at $0.2146 could see Ripple’s XRP take a hit.

A fall back through to sub-$0.2120 levels would bring the first major support level at $0.2088 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.20 levels. The second major support level at $0.2063 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.2088

Major Resistance Level: $0.2146

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