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

EOS

EOS slid by 4.72% on Sunday. Reversing a 4.44% rally from Saturday, EOS ended the week up 4.09% to $2.6045.

A bearish start to the day saw EOS fall from an early morning intraday high $2.7411 to an early afternoon intraday low $2.5366.

Steering clear of the first major resistance level at $2.7999, EOS fell through the first major support level at $2.6459 and second major support level at $2.5542.

Finding late support, EOS broke back through the second major support level to limit the loss on the day.

At the time of writing, EOS was up by 2.04% to $2.6577. A mixed start to the day saw EOS fall to an early morning low $2.5924 before striking a high $2.6640.

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 $2.7182.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6640.

Barring an extended crypto rally, the first major resistance level and Saturday’s high $2.7411 should limit any upside.

Failure to move back through to $2.70 levels could see EOS give up the early gains.

A fall back through to sub-$2.6275 levels would bring the first major support level at $2.5137 into play before any recovery.

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

Looking at the Technical Indicators

Major Support Level: $2.5137

Major Resistance Level: $2.7182

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 3.97% on Sunday. Partially reversing a 9.97% rally from Saturday, Ethereum ended the week up by 13.58% to $180.39.

Tracking the broader market, Ethereum slid from an early morning intraday high $189.92 to an early afternoon intraday high $176.53.

Ethereum left the major support and resistance levels untested before late recovery to $180 levels.

At the time of writing, Ethereum was up by 2.99% to $185.79. A mixed start to the day saw Ethereum fall to an early morning low $178.71 before striking a high $186.55.

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

For the day ahead

Ethereum would need to move through to $187 levels to support a run at the first major resistance level at $188.03.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $186.55.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $189.92 would likely limit any upside.

Failure to move through to $187 levels could see Ethereum hit reverse.

A fall through to sub-$182.30 levels would bring the first major support level at $174.64 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: $174.64

Major Resistance Level: $188.03

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 3.46% on Sunday. Reversing a 3.42% gain from Saturday, Ripple’s XRP ended the week down by 0.28% to $0.18921.

A bearish start to the day saw Ripple’s XRP slide from an early morning intraday high $0.19659 to an early afternoon intraday low $0.18778.

Ripple’s XRP fell through the first major support level at $0.1905 before finding support.

Through the afternoon, Ripple’s XRP recovered to $0.1920 levels before sliding back through the first major support level into the deep red.

At the time of writing, Ripple’s XRP was up by 2.69% to $0.19430. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18877 before striking a high $0.19503.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.1946 early on.

For the day ahead

Ripple’s XRP will need to break back through the first major resistance level at $0.1946 to bring $0.20 levels into play.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the morning high $0.19503.

Barring an extended crypto rally, the second major resistance level at $0.20 would likely limit any upside.

Failure to move back through the first major resistance level could see Ripple’s XRP hit reverse.

A fall through to sub-$0.1910 levels would bring the first major support level at $0.1858 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1824.

Looking at the Technical Indicators

Major Support Level: $0.1858

Major Resistance Level: $0.1946

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