EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/01/20

EOS

EOS rose by 1.76% on Friday. Partially reversing a 2.01% slide from Thursday, EOS ended the day at $3.6329.

A bearish start to the day saw EOS slide to a late morning intraday low $3.3555 before making a move.

Steering clear of the first major support level at $3.4971, EOS rallied to a late intraday high $3.7049.

EOS broke through the first major resistance level at $3.6504 before falling back to $6.30 levels.

At the time of writing, EOS was up by 0.04% to $3.6345. A range-bound start to the day saw EOS rise from an early morning low $3.6297 to a high $3.6355.

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

For the day ahead

EOS would need to break back through to $3.70 levels to support a run at the first major resistance level at $3.7734.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $3.7049.

Barring a broad-based crypto rally, the first major resistance level, and Friday’s high would likely cap any upside.

Failure to move through to $3.70 levels could see EOS struggle throughout the day.

A fall back through to sub-$3.56 levels would bring the first major support level at $3.4240 into play.

Barring another broad-based crypto sell-off, however, EOS should steer clear of sub-$3.40 levels and Friday’s low $3.3555.

Looking at the Technical Indicators

Major Support Level: $3.4240

Major Resistance Level: $3.7734

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.12% on Friday. Following on from a 3.18% slide on Thursday, Ethereum ended the day at $162.3.

A bearish start to the day saw Ethereum slide to a late morning intraday low $154.48 before finding support.

Ethereum fell through the first major support level at $157.96 before rallying to an early evening intraday high $164.21.

Falling short of the first major resistance level at $167.31, Ethereum fell back to close out the day in the red.

At the time of writing, Ethereum was down by 0.76% to $161.07. A bearish start to the day saw Ethereum fall from an early morning high $162.35 to a low $161.15.

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

For the day ahead

Ethereum would need to move through to $163 levels to support a run at the first major resistance level at $166.18

Support from the broader market would be needed, however, for Ethereum to break back through to $165 levels.

Barring a broad-based crypto rebound, Ethereum will likely fall well short of $166 levels on the day.

In the event of a rebound, the first major resistance at $166.18 would likely limit any upside.

Failure to move back through to $163 levels could see Ethereum remain in the red.

A fall through to sub-$160.30 levels would bring the first major support level at $156.45 into play before any recovery.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $150.60.

Looking at the Technical Indicators

Major Support Level: $156.45

Major Resistance Level: $166.18

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 1.53% on Friday. Following a 4.71% slide on Thursday, Ripple’s XRP ended the day at $0.22242.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.22628 before hitting reverse.

Falling short of the first major resistance level at $0.2351, Ripple’s XRP slid to a late morning intraday low $0.21411.

Ripple’s XRP fell through the first major support level at $0.2187 before recovering to $0.225 levels.

Pressure through the latter part of the day, however, led to a pullback to leave Ripple’s XRP deep in the red at the day end.

At the time of writing, Ripple’s XRP was down by 0.58% to $0.22114. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22278 before falling to a low $0.22069.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move back through to $0.2250 levels to support a run at the first major resistance level at $0.2278.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.22628.

Barring a broad-based crypto rally, the first major resistance level at $0.2278 would likely pin Ripple’s XRP back from $0.23 levels.

Failure to move back through to $0.2250 levels could see Ripple’s XRP struggle throughout the day.

A fall through to sub-$0.2210 levels would bring the first major support level at $0.2156 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer of sub-$0.21 levels.

Looking at the Technical Indicators

Major Support Level: $0.2156

Major Resistance Level: $0.2278

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