EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/05/20

EOS

EOS fell by 2.84% on Sunday. Following on from a 1.04% fall on Saturday, EOS ended the week down by 4.92% to $2.4877.

A bullish start to the day saw EOS rise to an early morning intraday high $2.6067 before hitting reverse.

Falling short of the first major resistance level at $2.6094, EOS slid to a late afternoon low $2.5031.

The reversal saw EOS fall through the first major support level at $2.5347. Finding support at the second major support level at $2.5028, EOS briefly recovered to $2.56 levels before a late sell-off.

The sell-off saw EOS slide back through the first major support level and second major support level to an intraday low $2.4877.

At the time of writing, EOS was up by 0.57% to $2.5020. A mixed start to the day saw EOS fall to an early morning low $2.4500 before striking a high $2.5151.

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

For the day ahead

EOS would need to move through to $2.5280 levels to bring the first major resistance level at $2.5678 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.5151.

Barring a broad-based crypto rally, the major first resistance level would likely limit any upside on the day.

Failure to move back through to $2.5280 levels could see EOS slide back into the red.

A fall through the morning low $2.4500 would bring the first major support level at $2.4477 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.4076.

Looking at the Technical Indicators

Major Support Level: $2.4477

Major Resistance Level: $2.5678

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 3.38% on Sunday. Following on from a 0.31% decline on Saturday, Ethereum ended the week down by 3.58% to $199.63.

A bullish start to the day saw Ethereum rise to an early morning intraday high $210.67 before hitting reverse.

Ethereum broke through the first major resistance level at $210.45, before falling to a late afternoon low $201.69.

The reversal saw Ethereum fall through the first major support level at $203.71 before briefly recovering to $208 levels.

A final hour sell-off did the damage, however, with Ethereum sliding to an intraday low $199.30.

Ethereum fell through the first major support level and second major support level at $200.77 to wrap up the day at sub-$200 levels.

At the time of writing, Ethereum was up by 1.46% to $202.55. A mixed start to the day saw Ethereum fall to an early morning low $198.01 before rising to a high $203.17.

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

For the day ahead

Ethereum would need to move through to $203.20 levels to bring the first major resistance level at $207.10 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $203.17.

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

Failure to move through to $203.20 levels could see Ethereum slide into the red.

A fall through the morning low $198.01 would bring the first major support level at $195.73 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $191.83.

Looking at the Technical Indicators

Major Support Level: $195.73

Major Resistance Level: $207.10

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 3.27% on Sunday. Following on from a 0.90% decline on Saturday, Ripple’s XRP ended the week down by 4.45% to $0.19228.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.20161 before taking a hit.

Ripple’s XRP broke through the first major resistance level at $0.2012, before falling to a late afternoon low $0.19467.

The reversal saw Ripple’s XRP fall through the first major support level at $0.1970 and the second major support level at $0.1954.

Finding support late on, Ripple’s XRP briefly recovered to $0.1980 levels before a final hour sell-off to an intraday low $0.19228.

Ripple’s XRP fell back through the first major support level and second major support level to end the day at sub-$0.1930 levels.

At the time of writing, Ripple’s XRP was up by 0.55% to $0.19334. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18928 before striking a high $0.19449.

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 to $0.1960 levels to support a run at the first major resistance level at $0.1985.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.19449.

Barring a broad-based crypto rebound, the first major resistance level would likely leave Ripple’s XRP short of $0.20 levels.

Failure to move through to $0.1960 levels could see Ripple’s XRP hit reverse.

A fall through to sub-$0.1930 levels would bring the first major support level at $0.1892 into play.

Barring another crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1861.

Looking at the Technical Indicators

Major Support Level: $0.1892

Major Resistance Level: $0.1985

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