EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 17/04/20

EOS

EOS rallied by 10.59% on Thursday. Reversing a 1.96% fall from Wednesday, EOS ended the day at $2.6605.

A bearish start to the day saw EOS fall to an early morning intraday low $2.3371 before making a move.

EOS fell through the first major support level at $2.3680 before striking an early afternoon intraday high $2.7380.

Moving back through the first major support level, EOS broke through the day’s major resistance levels before easing back.

A pullback through the third major resistance level at $2.6437 was short-lived, however. Finding late support, EOS broke back through the third major resistance level to wrap up the day at $2.66 levels.

At the time of writing, EOS was down by 0.50% to $2.6473. A bearish start to the day saw EOS fall from an early morning high $2.6750 to a low $2.6108.

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

For the day ahead

EOS would need to move back through to $2.70 levels to support another run at the first major resistance level at $2.8200.

Support from the broader market would be needed, however, for EOS to breakout from Thursday’s high $2.7380.

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

Failure to move through to $2.70 levels could see EOS struggle throughout the day.

A fall back through to sub-$2.58 levels would bring the first major support level at $2.4191 into play before any recovery.

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

Looking at the Technical Indicators

Major Support Level: $2.4191

Major Resistance Level: $2.8200

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum surged by 12.95% on Thursday. Reversing a 3.72% slide from Wednesday, Ethereum ended the day at $172.55.

Tracking the broader market, Ethereum slid to an early morning intraday low $148.08 before making a move.

Ethereum fell through the first major support level at $149.46 before rallying to a final hour intraday high $175.20.

Moving back through the first major support level, Ethereum broke through the major resistance levels.

A late pullback to $172 levels, however, saw Ethereum fall back through the third major resistance level at $174.14.

At the time of writing, Ethereum was down by 0.50% to $171.69. A bearish start to the day saw Ethereum fall from an early morning high $173.61 to a low $170.16.

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

For the day ahead

Ethereum would need to move back through to $175 levels to support a run at the first major resistance level at $182.47.

Support from the broader market would be needed, however, for Ethereum to breakout from Thursday’s high to $175.2.

Barring an extended crypto rally, resistance at $175 would likely leave Ethereum short of the first major resistance level.

Failure to move back through to $175 levels could see Ethereum fall deeper into the red.

A fall through to sub-$165 levels would bring the first major support level at $155.35 into play before any recovery.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$160 levels on the day.

Looking at the Technical Indicators

Major Support Level: $155.35

Major Resistance Level: $182.47

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 5.61% on Thursday. Reversing a 2.73% fall from Wednesday, Ripple’s XRP ended the day at $0.19104.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.17426 before finding support.

Ripple’s XRP fell through the first major support level at $0.1775 before striking a final hour intraday high $0.19372.

Moving back through the first major support level, Ripple’s XRP broke through the first major resistance level at $0.1871.

The second major resistance level at $0.1932 pinned Ripple’s XRP back on the day.

At the time of writing, Ripple’s XRP was down by 0.54% to $0.19001. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18882 before striking a high $0.19202.

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

For the day ahead

Ripple’s XRP will need to move through to $0.19200 levels to support a run at the first major resistance level at $0.1984.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from Thursday’s high $0.19372.

Barring an extended crypto rally, resistance at $0.1950 would likely leave Ripple’s XRP short of the first major resistance level.

Failure to move through to $0.19200 levels could see Ripple’s XRP fall deeper into the red.

A fall through to sub-$0.1860 levels would bring the first major support level at $0.1790 back into play.

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

Looking at the Technical Indicators

Major Support Level: $0.1790

Major Resistance Level: $0.1984

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