EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 19/04/20

EOS

EOS rallied by 4.44% on Saturday. Reversing a 1.50% decline from Friday, EOS ended the day at $2.7377.

A mixed start to the day saw EOS fall from an early morning high $2.6762 to a late morning intraday low $2.6164.

Steering clear of the first major support level at $2.5796, EOS rallied to a late intraday high $2.7704.

EOS broke through the first major resistance level at $2.6725 and second major resistance level at $2.7219.

In spite of a final hour pullback, EOS avoided a fall back through the second major resistance level.

At the time of writing, EOS was down by 1.40% to $2.6994. A bearish start to the day saw EOS fall from an early morning high $2.7411 to a low $2.6477.

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 a run at the first major resistance level at $2.7999.

Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.7704.

Barring an extended crypto rally, the first major resistance level at $2.7999 and Saturday’s high should limit any upside.

Failure to move back through to $2.70 levels could see EOS fall deeper into the red.

A fall back through to the morning low $2.6477 would bring the first major support level at $2.6459 into play before any recovery.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.60 levels on the day.

Looking at the Technical Indicators

Major Support Level: $2.6459

Major Resistance Level: $2.7999

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 9.97% on Saturday. Reversing a 0.98% decline from Friday, Ethereum ended the day at $187.88.

Tracking the broader market, Ethereum rallied from an early morning intraday low $170.69 to a late intraday high $191.22.

Steering clear of the major support levels, Ethereum broke through the day’s major resistance levels.

In spite of a final hour pullback, Ethereum avoided a fall through the third major resistance level at $184.70.

At the time of writing, Ethereum was down by 0.63% to $186.70. A bearish start to the day saw Ethereum fall from an early morning high $189.92 to a low $185.00.

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

For the day ahead

Ethereum would need to move back through to $190 levels to support a run at the first major resistance level at $195.84.

Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $191.22.

Barring an extended crypto rally, resistance at $190 would likely leave Ethereum short of the first major resistance level.

Failure to move back through to $190 levels could see Ethereum fall deeper into the red.

A fall through to sub-$183 levels would bring the first major support level at $175.31 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$170 levels on the day.

Looking at the Technical Indicators

Major Support Level: $175.31

Major Resistance Level: $195.84

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 3.42% on Saturday. Reversing a 0.83% fall from Friday, Ripple’s XRP ended the day at $0.19588.

A choppy start to the day saw Ripple’s XRP slide from an early high $0.19219 to a late morning intraday low $0.18879.

Steering clear of the first major support level at $0.1866, Ripple’s XRP rallied to a late intraday high $0.19774.

Ripple’s XRP broke through the first major resistance level at $0.1922 and the second major resistance level at $0.1951.

A late pullback saw Ripple’s XRP briefly fall back through the second major resistance level before wrapping up the day at $0.1958 levels.

At the time of writing, Ripple’s XRP was down by 0.64% to $0.19462. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19626 to a low $0.19339.

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 the morning high $0.19626 to support a run at the first major resistance level at $0.1995.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from Saturday’s high $0.19774.

Barring an extended crypto rally, the first major resistance level, and Friday’s high would leave Ripple’s XRP short of $0.20 levels.

Failure to move back through the morning high $0.19626 could see Ripple’s XRP struggle throughout the day.

A fall through to sub-$0.1940 levels would bring the first major support level at $0.1905 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer well clear of the second major support level at $0.18352.

Looking at the Technical Indicators

Major Support Level: $0.1905

Major Resistance Level: $0.1995

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