EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 19/05/20

EOS

EOS rose by 1.73% on Monday. Reversing a 0.55% fall from Sunday, EOS ended the day at $2.6618.

A particularly bullish morning saw EOS rally from a morning low $2.6102 to an early morning intraday high $2.7563.

EOS broke through the first major resistance level at $2.6657 and second major resistance level at $2.7136 before hitting reverse.

The reversal saw EOS slide back to a late afternoon intraday low $2.6050 before finding support.

Steering clear of the first major support level at $2.5807, EOS recovered to $2.66 levels to end the day in the green.

At the time of writing, EOS was down by 0.84% to $2.6394. A bearish start to the day saw EOS fall from an early morning high $2.6590 to a low $2.6356.

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

For the day ahead

EOS would need to move through to $2.6750 levels to bring the first major resistance level at $2.7437 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6590.

Barring an extended crypto rally, however, the major first resistance level would likely cap any upside.

Failure to move back through to $2.6750 levels could see EOS fall deeper into the red.

A fall through to the morning low $2.6356 would bring the first major support level at $2.5924 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.5231.

Looking at the Technical Indicators

Major Support Level: $2.5924

Major Resistance Level: $2.7437

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 3.76% on Monday. Following on from a 3.27% gain on Sunday, Ethereum ended the day at $214.83.

A bullish start to the day saw Ethereum rally from an intraday low $206.99 to a mid-morning intraday high $216.99.

Ethereum broke through the first major resistance level at $211.67 and second major resistance level at $216.28 before hitting reverse.

The reversal saw Ethereum slide back to sub-$209 levels by late afternoon before finding support.

Late in the day, Ethereum broke back through the first major resistance level to close out at $214 levels.

At the time of writing, Ethereum was down by 1.06% to $212.56. A bearish start to the day saw Ethereum fall from an early morning high $215.00 to a low $212.25.

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

For the day ahead

Ethereum would need to move through to $213 levels to bring the first major resistance level at $218.88 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $216.99.

Barring a broad-based crypto rebound, resistance at $215 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $213 levels could see Ethereum take a bigger hit later in the day.

A fall back through the morning low to sub-$210 levels would bring the first major support level at $208.88 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$200 levels.

The second major support level at $202.94 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $208.88

Major Resistance Level: $218.88

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 2.02% on Monday. Following on from a 0.79% gain on Sunday, Ripple’s XRP ended the day at $0.20530.

Tracking the broader market, Ripple’s XRP rallied from an intraday low $0.20107 to an early morning intraday high $0.20814.

Ripple’s XRP broke through the first major resistance level at $0.20814 and second major resistance level at $0.2075 before hitting reverse.

The reversal saw Ripple’s XRP slide back to $0.20113 by late morning before finding support.

Through the 2^nd half of the day, Ripple’s XRP revisited $0.2063 levels before easing back. The recovery saw Ripple’s XRP break back through and hold above the first major resistance level at $0.2043.

At the time of writing, Ripple’s XRP was down by 1.10% to $0.20305. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.20516 to a low $0.20283.

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 $0.2050 levels to support a run at the first major resistance level at $0.2086.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.20814.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.

Failure to move through to $0.2050 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the morning low $0.20283 would bring the first major support level at $0.2015 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.1978.

Looking at the Technical Indicators

Major Support Level: $0.2015

Major Resistance Level: $0.2086

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