EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/04/20

EOS

EOS rose by 0.63% on Friday. Following on from a 2.04% gain on Thursday, EOS ended the day at $2.7094.

A bullish start to the day saw EOS rally to a late morning intraday high $2.7452 before hitting reverse.

Falling short of the first major resistance level at $2.7760, EOS slid to an early afternoon intraday low $2.6694.

Steering clear of the first major support level at $2.5856, EOS reversed the losses to wrap up the day at $2.70 levels.

At the time of writing, EOS was down by 0.05% to $2.7080. A mixed start to the day saw EOS fall to an early morning low $2.6867 before striking a high $2.7080.

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

For the day ahead

EOS would need to avoid sub-$2.70 levels to support a run at the first major resistance level at $2.7466.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.7452.

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

Failure to avoid sub-$2.70 levels could see EOS struggle later in the day.

A fall through to sub-$2.70 levels would bring the first major support level at $2.6708 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer well clear of sub-$2.60 levels. The second major support level at $2.6322 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.6708

Major Resistance Level: $2.7466

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.59% on Friday. Following on from a 1.40% gain on Thursday, Ethereum ended the day at $187.84.

Tracking the broader market, Ethereum rose to a mid-morning intraday high $189.91 before hitting reverse.

Falling short of the first major resistance level at $194.20, Ethereum slid to an early afternoon intraday low $184.97.

Steering clear of the first major support level at $177.78, Ethereum found late support to wrap up the day at $187 levels.

At the time of writing, Ethereum was up by 0.15% to $188.13. A bearish start to the day saw Ethereum fall to an early morning low $185.97 before striking a high $188.45.

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

For the day ahead

Ethereum would need to avoid sub-$187.50 levels to support a run at the first major resistance level at $190.18.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $189.91.

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

Failure to avoid sub-$187.50 levels could see Ethereum hit reverse.

A fall through to sub-$187 levels would bring the first major support level at $185.24 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $182.63.

Looking at the Technical Indicators

Major Support Level: $185.24

Major Resistance Level: $190.18

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 0.50% on Friday. Following on from a 2.33% increase on Thursday, Ripple’s XRP ended the day at $0.19367.

A bullish start to the day saw Ripple’s XRP rise to a mid-morning intraday high $0.19733 before hitting reverse.

Falling short of the first major resistance level at $0.2000, Ripple’s XRP slid to an early afternoon intraday low $0.1922.

Steering clear of the first major support level at $0.1861, Ripple’s XRP bounced back to $0.1950 levels before falling back into the red.

A final hour rebound delivered the upside on the day.

At the time of writing, Ripple’s XRP was up by 0.15% to $0.19397. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.19165 before striking a high $0.19420.

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

For the day ahead

Ripple’s XRP will need to avoid sub-$0.1945 levels to support another run at the first major resistance level at $0.1966.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the morning high $0.19420.

Barring an extended crypto rally, the first major resistance level at $0.1966 would likely limit any upside.

Failure to avoid sub-$0.1945 levels could see Ripple’s XRP hit reverse.

A fall through to sub-$0.1920 levels would bring the first major support level at $0.1915 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.19 levels.

Looking at the Technical Indicators

Major Support Level: $0.1915

Major Resistance Level: $0.1966

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