EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 18/04/20

EOS

EOS fell by 1.50% on Friday. Partially reversing a 10.59% rally from Thursday, EOS ended the day at $2.6231.

A bearish start to the day saw EOS fall from an early morning high $2.6750 to a mid-morning intraday low $2.5855.

Steering clear of the major support and resistance levels, EOS bounced back to a late intraday high $2.6784.

Falling short of the first major resistance level at $2.8200, EOS fell back to sub-$2.66 levels and into the red.

At the time of writing, EOS was up by 1.2% to $2.6545. A bullish start to the day saw EOS rally from an early morning low $2.6212 to a high $2.6762.

EOS broke through the first major resistance level at $2.6725 before easing back.

For the day ahead

EOS would need to move back through to $2.60 levels to support another break through the first major resistance level at $2.6725.

Support from the broader market would be needed, however, for EOS to break through to $2.70 levels.

Barring an extended crypto rally, resistance at $2.70 levels would likely leave EOS short of the second major resistance level at $2.7219.

Failure to move back through to $2.60 levels could see EOS hit reverse.

A fall back through to sub-$2.63 levels would bring the first major support level at $2.5796 into play before any recovery.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.50 levels on the day.

The second major support level at $2.5361 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.5796

Major Resistance Level: $2.6725

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slipped by 0.98% on Friday. Following a 12.95% rally on Thursday, Ethereum ended the day at $170.89.

Tracking the broader market, Ethereum slid from an early morning high $173.61 to an early morning intraday low $168.50.

Steering clear of the first major support level at $155.35, Ethereum rallied to a late intraday high $175.10.

Ethereum fell short of the first major resistance level at $182.47 before falling back into the red. Resistance at $175 pinned Ethereum back late in the day.

At the time of writing, Ethereum was up by 1.66% to $173.73. A bullish start to the day saw Ethereum rise from an early morning low $170.69 to a high $174.44.

Steering clear of the major support levels, Ethereum came up against the first major resistance level at $174.49 early on.

For the day ahead

Ethereum would need to move back through to $174 levels to support another run at the first major resistance level at $174.49.

Support from the broader market would be needed, however, for Ethereum to break back through to $174 levels.

Barring an extended crypto rally, the first major resistance and Friday’s high $175.1 would likely pin Ethereum back.

Failure to move back through to $174 levels could see Ethereum fall into the red.

A fall through to sub-$171.5 levels would bring the first major support level at $167.89 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$160 levels on the day.

The second major support level at $164.90 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $167.89

Major Resistance Level: $174.49

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 0.83% on Friday. Partially reversing a 5.61% gain from Thursday, Ripple’s XRP ended the day at $0.18940.

A choppy start to the day saw Ripple’s XRP slide from an early high $0.19202 to an early morning intraday low $0.18658.

Steering clear of the first major support level at $0.1790, Ripple’s XRP rallied to a late intraday high $0.19223.

Ripple’s XRP fell short of the first major resistance level at $0.1984 before sliding back to sub-$0.19 and into the red.

At the time of writing, Ripple’s XRP was up by 0.99% to $0.19128. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18940 to a high $0.19219.

Steering clear of the major support levels, Ripple’s XRP tested the first major resistance level at $0.1922 early on.

For the day ahead

Ripple’s XRP will need to move through to $0.19200 levels to support a move through the first major resistance level at $0.1922.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the morning high $0.19219.

Barring an extended crypto rally, the first major resistance level and Friday’s high $0.19223 would likely limit any upside.

Failure to move back through to $0.19200 levels could see Ripple’s XRP hit reverse.

A fall through to sub-$0.1890 levels would bring the first major support level at $0.1866 back into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer well clear of sub-$0.18 levels.

The second major support level at $0.1838 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.1866

Major Resistance Level: $0.1922

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