EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 15/02/20

It’s a mixed start to the day with Ripple’s XRP looking to buck the trend. A move back through key levels would be needed to avoid a sell-off.
Bob Mason
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EOS

EOS rose by 0.08% on Friday. Following on from a 0.42% gain on Thursday, EOS ended the day at $5.3600.

A choppy start to the day saw EOS rise to an early morning intraday high $5.4234 before hitting reverse.

Falling short of the first major resistance level at $5.5044, EOS slid to a mid-morning intraday low $5.2173.

Steering clear of the first major support level at $5.1883, EOS recovered to $5.38 levels before easing back to an afternoon low $5.2760.

Finding support late on recovered to $5.30 levels to close out the day in the green.

At the time of writing, EOS was down by 1.64% to $5.2723. A mixed start to the day saw EOS rise to an early morning high $5.3872 before sliding to a low $5.2265.

Falling short of the major resistance levels, EOS fell through the first major support level at $5.2437 early on.

For the day ahead

EOS would need to move back through to $5.33 levels to support a run at the first major resistance level at $5.4498.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $5.4234.

Barring a broad-based crypto rebound, the first major resistance level at $5.4498 and Friday’s high would likely limit the upside on the day.

Failure to move back through to $5.33 levels could see EOS fall deeper into the red.

A fall back through the first major support level at $5.2437 would bring sub-$5.20 levels into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of the second major support level at $5.1275.

Looking at the Technical Indicators

Major Support Level: $5.2437

Major Resistance Level: $5.4498

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 rallied by 6.67% on Friday. Following on from a 0.67% gain on Thursday, Ethereum ended the day at $286.27.

A bearish start to the day saw Ethereum fall to a mid-morning intraday low $260.13 before making a move.

Steering clear of the first major support level at $255.44, Ethereum rallied to a late intraday high $287.98.

Ethereum broke through the first major resistance level at $279.70 to hit $280 for the 1st time since early July.

At the time of writing, Ethereum was down by 1.48% to $282.02. A mixed start to the day saw Ethereum rise to an early morning high $290.00 before sliding to a low $278.27.

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

For the day ahead

Ethereum would need to move back through the morning high $290.00 to bring the first major resistance level at $296.12 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $287.98 again.

Barring an extended crypto rally, resistance at $290.00 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $290 levels could see Ethereum slide deeper into the red.

A fall back through to sub-$278 levels would bring the first major support level at $268.27 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$270 levels.

Looking at the Technical Indicators

Major Support Level: $268.27

Major Resistance Level: $296.12

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 2.84% on Friday. Following on from a 7.4% rally on Thursday, Ripple’s XRP ended the day at $0.33589.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.33231 before falling to a mid-morning intraday low $0.31060.

Steering clear of the first major support level at $0.30490, Ripple’s XRP rallied to a late afternoon intraday high $0.33890.

Falling short of the first major resistance level at $0.3443, Ripple’s XRP eased back to $0.3320 levels before a late move back through to $0.3350 levels.

At the time of writing, Ripple’s XRP was up by 0.25% to $0.33674. A choppy start to the day saw Ripple’s XRP rise to an early morning high $0.34639 before sliding to a low $0.33135.

Ripple’s XRP came up against the first major resistance level at $0.3463 before sliding back to sub-$0.34 levels.

 

For the day ahead

Ripple’s XRP will need to break back through to $0.34 levels to support another run at the first major resistance level at $0.3463.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.33923 for a 2nd time.

Barring an extended crypto rally, the first major resistance level at $0.3463 would likely limit any upside.

Failure to move back through to $0.34 levels could see Ripple’s XRP fall back into the red.

A fall back through the morning low $0.33135 to sub-$0.3285 levels would bring the first major support level at $0.3180 into play.

Barring another crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.32 levels on the day

Looking at the Technical Indicators

Major Support Level: $0.3180

Major Resistance Level: $0.3463

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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