EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 19/02/20

EOS

EOS rallied by 5.25% on Tuesday. Reversing a 0.68% fall from Monday, EOS ended the day at $4.5908.

A mixed start to the day saw EOS rise to a mid-morning intraday high $4.5066 before hitting reverse.

EOS broke through the first major resistance level at $4.5031 before sliding to an early afternoon intraday low $4.2795.

Steering clear of the first major support level at $4.1183, EOS bounced back to a late intraday high $4.6667.

EOS broke through the first major resistance level at $4.5031 and the second major resistance level at $4.6513.

A bearish end to the day saw EOS fall back through the second major resistance level to limit the upside.

At the time of writing, EOS was down by 0.88% to $4.5504. A bearish start to the day saw EOS fall from an early morning high $4.5908 to a low $4.5120.

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

For the day ahead

EOS would need to move through to $4.60 levels to support a run at the first major resistance level at $4.7520.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $4.6667.

Barring a broad-based crypto rebound, resistance at $4.60 levels would likely leave EOS short of the first major resistance level.

Failure to move through to $4.60 levels could see EOS fall deeper into the red.

A fall through to sub-$4.51 levels would bring the first major support level at $4.3443 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$4.00 levels. The Second major support level at $4.0978 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $4.3443

Major Resistance Level: $4.7520

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 5.63% on Tuesday. Following on from a 3.65% gain on Monday, Ethereum ended the day at $283.31.

Tracking the broader market, Ethereum rose to an early morning intraday high $272.00 before hitting reverse.

Falling short of the major resistance levels, Ethereum fell to an early afternoon intraday low $259.24.

Steering clear of the first major support level at $250.59, Ethereum rallied to a late intraday high $286.87.

Breaking through the first major resistance level at $277.23, Ethereum came up against the second major resistance level at $286.44 to close out at $283 levels.

At the time of writing, Ethereum was down by 1.15% to $280.05. A bearish start to the day saw Ethereum fall from an early morning high $283.60 to a low $277.82.

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

For the day ahead

Ethereum would need to move back through Tuesday’s high $286.87 to bring the first major resistance level at $293.71 into play.

Support from the broader market would be needed, however, for Ethereum to break through to $290 levels.

Barring a broad-based crypto rebound, resistance at $290.00 would likely leave Ethereum short of the first major resistance level.

Failure to move through Tuesday’s high $286.87 could see Ethereum spend the day in the red.

A fall through to sub-$276.5 levels would bring the first major support level at $266.08 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$250 levels.

Looking at the Technical Indicators

Major Support Level: $266.08

Major Resistance Level: $293.71

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 3.77% on Tuesday. Reversing a 1.85% fall from Monday, Ripple’s XRP ended the day at $0.2984.

A choppy start to the day saw Ripple’s XRP rise to a mid-morning high $0.2950 before sliding to an early afternoon intraday low $0.27617.

Steering clear of the first major support level at $0.2732, Ripple’s XRP rallied to a late intraday high $0.3030.

Ripple’s XRP broke through the first major resistance level at $0.2981 to face resistance at $0.30 before easing back.

The late pullback saw Ripple’s XRP fall back through the first major resistance level before steadying.

At the time of writing, Ripple’s XRP was down by 0.8% to $0.29602. A bearish start to the day saw Ripple’s XRP fall from the early morning high $0.29857 to a low $0.29317.

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 $0.30 levels to support a run at the first major resistance level at $0.3089.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.3030.

Barring an extended crypto rally, resistance at $0.30 would likely pin Ripple’s XRP back from the first major resistance level.

Failure to move back through to $0.30 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the morning low $0.29317 to sub-$0.2925 levels would bring the first major support level at $0.2820 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.29 on the day.

Looking at the Technical Indicators

Major Support Level: $0.2820

Major Resistance Level: $0.3089

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