EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 17/02/20

EOS

EOS slid by 7.68% on Sunday. Following on from an 11.38% tumble on Saturday, EOS ended the day at $4.3850.

A bullish start to the day saw EOS rise to an early morning intraday high $4.8500 before hitting reverse.

Falling short of the first major resistance level at $5.2561, EOS slid to a late afternoon intraday low $4.0500.

EOS fell through the first major support level at $4.3749 before recovering to $4.38 levels late in the day.

At the time of writing, EOS was down by 4.66% to $4.1807. A bearish start to the day saw EOS fall from an early morning high $4.4002 to a low $4.1230.

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

For the day ahead

EOS would need to move through to $4.43 levels to support a run at the first major resistance level at $4.8067.

Support from the broader market would be needed, however, for EOS to break out from the early morning high $4.4002.

Barring a broad-based crypto rebound, resistance at $4.50 levels would likely leave EOS short of the first major resistance level.

Failure to move through to $4.43 levels could see EOS struggle throughout the day.

A fall back through the morning low $4.1230 would bring the first major support level at $4.0067 into play.

Barring an extended crypto sell-off, however, EOS should steer of sub-$4.00 levels.

Looking at the Technical Indicators

Major Support Level: $4.0067

Major Resistance Level: $4.8067

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.39% on Sunday. Following on from a 7.35% slide on Saturday, Ethereum ended the day at $258.50.

A bullish start to the day saw Ethereum rise to an early morning intraday high $274.00 before hitting reverse.

Falling short of the first major resistance level at $282.83, Ethereum tumbled to a late afternoon intraday low $236.37.

The sell-off saw Ethereum slide through the first major support level at $254.18 and the second major support level at $243.44.

Of greater significance, however, was a fall through the 23.6% FIB of $257.

Finding support late in the day, Ethereum broke back through the major support levels and 23.6% FIB to wrap up the day at $258 levels.

At the time of writing, Ethereum was down by 3.21% to $250.21. A bearish start to the day saw Ethereum fall from an early morning high $261.50 to a low $246.50.

While leaving the major support and resistance levels untested, Ethereum fell through the 23.6% FIB of $257.00.

For the day ahead

Ethereum would need to move back through to $256.50 levels to bring the first major resistance level at $276.21 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the 23.6% FIB.

Barring a broad-based crypto rebound, resistance at $270.00 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $256.50 levels could see Ethereum spend the day in the red.

A fall back through the morning low $246.50 would bring the first major support level at $238.58 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$230 levels.

Looking at the Technical Indicators

Major Support Level: $238.58

Major Resistance Level: $276.21

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 4.76% on Sunday. Following on from an 8.42% slide on Saturday, Ripple’s XRP ended the day at $0.29253.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.31862 before hitting reverse.

Falling well short of the first major resistance level at $0.3378, Ripple’s XRP tumbled to a late afternoon intraday low $0.27050.

Ripple’s XRP fell through the first major support level at $0.2855 before a bounce back to $0.29 levels.

At the time of writing, Ripple’s XRP was down by 4.01% to $0.28080. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.29255 to a low $0.27871.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to break through to $0.2940 levels to support a run at the first major resistance level at $0.3173.

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.30 levels.

Barring an extended crypto rally, resistance at $0.29 would likely pin Ripple’s XRP back from the first major resistance level.

Failure to move back through to $0.2940 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the morning low $0.27871 would bring the first major support level at $0.2691 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.26 levels on the day

Looking at the Technical Indicators

Major Support Level: $0.2691

Major Resistance Level: $0.3173

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