EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/03/20

EOS

EOS rose by 2.24% on Tuesday. Following on from a 7.50% rally on Monday, EOS ended the day at $2.3497.

A choppy start to the day saw EOS rise from an early morning intraday low $2.2821 to a mid-morning intraday high $2.3820 before hitting reverse.

Steering well clear of the major support and resistance levels, EOS fell back to sub-$2.30 levels before making a move.

Finding support late on, EOS bounced back to $2.36 levels before easing back.

At the time of writing, EOS was down by 1.20% to $2.3214. A bearish start to the day saw EOS fall from an early morning high $2.3484 to a low $2.3128.

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

For the day ahead

EOS would need to move through to $2.34 levels to bring the first major resistance level at $2.3938 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.3484.

Barring another extended rally, the first major resistance level at $2.3938 would likely limit any upside.

Failure to move back through to $2.34 levels could see EOS slide deeper into the red.

A fall back through the morning low $2.3128 would bring the first major support level at $2.2939 back into play.

Barring another crypto meltdown, however, EOS should steer clear of the second major support level at $2.2380.

Looking at the Technical Indicators

Major Support Level: $2.2380

Major Resistance Level: $2.3938

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.46% on Tuesday. Following on from a 12.01% rally on Monday, Ethereum ended the day at $139.00.

A mixed start to the day saw Ethereum fall to an early morning intraday low $133.04 before making a move.

Steering clear of the first major support level at $124.80, Ethereum rallied to a late morning intraday high $144.16.

Ethereum broke through the first major resistance level at $143.60 before falling back to sub-$135 levels.

Finding support late on, however, Ethereum broke back through to $140 levels before ending the day at $139.00.

At the time of writing, Ethereum was up by 0.05% to $139.69. A mixed start to the day saw Ethereum fall to an early morning low $137.00 before striking a high $142.00.

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

For the day ahead

Ethereum would need to move through to $140 levels to support a run at the first major resistance level at $144.43.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $142.00.

Barring a broad-based crypto rebound, resistance at $140 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $140 levels could see Ethereum fall back into the red.

A fall back through to sub-$138.70 levels would bring the first major support level at $133.31 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$130 support levels.

Looking at the Technical Indicators

Major Support Level: $133.31

Major Resistance Level: $144.43

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 2.29% on Tuesday. Following on from a 7.77% rally from Monday, Ripple’s XRP ended the day at $0.16290.

A choppy start to the day saw Ripple’s XRP slide to an early morning intraday low $0.15742 before finding support.

Steering clear of the first major support level at $0.1488, Ripple’s XRP rallied to a late morning intraday high $0.16400.

Falling short of the first major resistance level at $0.1661, Ripple’s XRP slid back to sub-$0.1590 levels.

Finding support late on, however, Ripple’s XRP broke back through to $0.16 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.60% to $0.16193. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.16075 before striking a high $0.16399.

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 $0.16399 to support a run at the first major resistance level at $0.1655.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.16400.

Barring a broad-based crypto rebound, the first major resistance level at S0.1655 would likely cap any upside.

Failure to move back through the morning high $0.16399 could see Ripple’s XRP fall deeper into the red.

A fall back through to sub-$0.1615 levels would bring the first major support level at $0.1589 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels on the day.

The second major support level at $0.1549 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.1589

Major Resistance Level: $0.1655

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