EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 22/04/20

EOS

EOS rose by 0.74% on Tuesday. Partially reversing a 3.49% slide from Monday, EOS ended the day at $2.5231.

A choppy start to the day saw EOS rise to a mid-morning high $2.5530 before sliding to a late morning intraday low $2.4844.

Steering clear of the first major support level at $2.4105, EOS rallied to an early afternoon intraday high $2.5729.

Falling short of the first major resistance level at $2.6408, EOS fell back to sub-$2.53 levels to limit the upside on the day.

At the time of writing, EOS was up by 0.10% to $2.5255. A mixed start to the day saw EOS fall to an early morning low $2.5098 before striking a high $2.5382.

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

For the day ahead

EOS would need to move back through to $2.5270 levels to support a run at the first major resistance level at $2.5692.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.5382.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2.5729 should limit any upside.

Failure to move back through to $2.5270 levels could see EOS give up the early gains.

A fall back through the morning low $2.5098 would bring the first major support level at $2.4807 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer clear of the second major support level at $2.4383.

Looking at the Technical Indicators

Major Support Level: $2.4807

Major Resistance Level: $2.5692

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.40% on Tuesday. Following a 5.42% slide on Monday, Ethereum ended the day at $171.07.

A bullish start to the day saw Ethereum rise to a mid-morning intraday high $174.93 before hitting reverse.

Falling short of the first major resistance level at $182.65, Ethereum slid to a late morning intraday low $168.44.

Steering clear of the first major support level at $162.38 Ethereum recovered to $173 levels before easing back.

At the time of writing, Ethereum was up by 0.40% to $171.76. A mixed start to the day saw Ethereum fall to an early morning low $170.02 before striking a high $172.79.

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

For the day ahead

Ethereum would need to move back through to $172.0 levels to support a run at the first major resistance level at $174.52.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $172.79.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $174.93 would likely cap any upside.

Failure to move back through to $172 levels could see Ethereum hit reverse.

A fall through to sub-$171.50 levels would bring the first major support level at $168.03 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $164.99.

Looking at the Technical Indicators

Major Support Level: $168.03

Major Resistance Level: $174.52

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP gained 0.89% on Tuesday. Partially reversing a 3.95% fall from Monday, Ripple’s XRP ended the day at $0.18344.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.18534 before hitting reverse.

Falling short of the first major resistance level at $0.1917, Ripple’s XRP fell to a late morning intraday low $0.18127.

Steering clear of the first major support level at $0.1751, Ripple’s XRP rallied to a late intraday high $0.18667.

Falling short of the first major resistance level at $0.1917 Ripple’s XRP eased back to limit the gain on the day.

At the time of writing, Ripple’s XRP was up by 0.29% to $0.18397. A choppy start to the day saw Ripple’s XRP fall to an early morning low $0.18219 before rallying to an early high $0.18470.

For the day ahead

Ripple’s XRP will need to break back through to $0.1840 levels to support another run at the first major resistance level at $0.1863.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the morning high $0.18470.

Barring an extended crypto rally, the first major resistance level at $0.1863 and Tuesday’s high $0.18667 would likely limit any upside.

Failure to move back through to $0.1840 levels could see Ripple’s XRP hit reverse.

A fall through the morning low $0.18219 would bring the first major support level at $0.1809 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1784.

Looking at the Technical Indicators

Major Support Level: $0.1809

Major Resistance Level: $0.1863

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