EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 15/01/20

EOS

EOS rallied by 22.09% on Tuesday. Reversing a 3.16% slide from Monday with interest, EOS ended the day at $3.7923.

A particularly bullish day saw EOS rally from an early morning intraday low $3.1054 to an afternoon intraday high $4.0596.

EOS broke through the major resistance levels to visit $4.00 levels for the 1^st time since late September.

In spite of a late pullback to sub-$4.00 levels, EOS held above the third major resistance level at $3.4188 through to the day end.

At the time of writing, EOS was down by 0.27% to $3.7821. A mixed start to the day saw EOS fall to an early morning low $3.7300 before striking a high $3.9400.

EOS left the major support and resistance untested before falling back into the red.

For the day ahead

EOS would need to move back through the morning high $3.9400 to support a run at the first major resistance level at $4.1995.

Support from the broader market would be needed, however, for EOS to breakout from Tuesday’s high $4.0596.

Barring another broad-based crypto rally, the first major resistance at $4.1995 would likely cap any upside on the day.

Failure to move back through the morning highs could see EOS fall deeper into the red.

A fall back through the morning low to sub-$3.65 levels would bring the first major support level at $3.2453 into play.

Barring a crypto meltdown, however, EOS should steer clear of Tuesday’s low $3.1054.

Looking at the Technical Indicators

Major Support Level: $3.2453

Major Resistance Level: $4.1995

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 15.51% on Tuesday. Reversing a 2.07% fall from Monday, Ethereum ended the day at $165.76.

Bullish through the day, Ethereum rallied from an early morning intraday low $143.45 to a late afternoon intraday high $170.83.

Ethereum broke through the major resistance levels to hit $170 levels for the 1^st time since September.

In spite of a late pullback to $160 levels, Ethereum held above the third major resistance level at $154.00.

At the time of writing, Ethereum was down by 1.62% to $163.08. A mixed start to the day saw Ethereum rise to an early morning high $172.18 before falling to a low $162.60.

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

For the day ahead

Ethereum would need to move back through to $170 levels to support a run at the first major resistance level at $176.58.

Support from the broader market would be needed for Ethereum to break through the morning high $172.18.

Barring a broad-based crypto rebound, however, the first major resistance level at $176.58 would likely cap any upside.

Failure to move back through to $170 levels could see Ethereum fall deeper into the red.

A fall back through to sub-$160 levels would bring the first major support level at $149.20 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of sub-$150 levels.

Looking at the Technical Indicators

Major Support Level: $149.20

Major Resistance Level: $176.58

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 10.68 % on Tuesday. Reversing a 1.84% decline from Monday, Ripple’s XRP ended the day at $0.23375.

Tracking the broader market, Ripple’s XRP rallied from an early morning intraday low $0.21113 to a late intraday high $0.24447.

Ripple’s XRP broke through the day’s major resistance levels to visit $0.24 levels for the first time since 22^nd November.

In spite of a late pullback to $0.23 levels, Ripple’s XRP held above the third major resistance level at $0.2238.

At the time of writing, Ripple’s XRP was down by 0.16% to $0.23337. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.23000 before striking a high $0.24233.

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 $0.24 levels to support a run at the first major resistance level at $0.2484.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.24233.

Barring a broad-based crypto rebound, the first major resistance level at $0.2484 would likely limit any upside.

Failure to move back through to $0.24 levels could see Ripple’s XRP fall further back.

A fall back to sub-$0.23 levels would bring the first major support level at $0.2151 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.23 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.2151

Major Resistance Level: $0.2484

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