EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 26/02/20

EOS

EOS fell by 1.25% on Tuesday. Following on from a 6.10% tumble on Monday, EOS ended the day at $4.0845.

A mixed start to the day saw EOS fall to a mid-morning low $3.9996 before striking a mid-day intraday high $4.2430.

Falling short of the first major resistance level at $4.3899, EOS slid to a late intraday low $3.8947.

EOS came within range of the first major support level at $3.8883 before moving back through to $4.00 levels.

At the time of writing, EOS was down by 4.63% to $3.8953. A bearish start to the day saw EOS fall from an early morning high $4.1114 to a low $3.7700.

Steering clear of the major resistance levels, EOS fell through the first major support level at $3.9051.

For the day ahead

EOS would need to move back through the first major support level to $4.10 levels to support a run at the first major resistance level at $4.2534.

Support from the broader market would be needed, however, for EOS to break back through to $4.00 levels.

Barring a broad-based crypto rebound, however, EOS would likely fall short of $4.10 levels on the day.

Failure to move back through to $4.10 levels could see EOS fall deeper into the red.

A fall back through the morning low $3.7700 would bring the second major support level at $3.7258 back into play.

Barring an extended crypto sell-off, however, EOS should continue to steer well clear of sub-$3.70 levels.

Looking at the Technical Indicators

Major Support Level: $3.9051

Major Resistance Level: $4.2534

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 7.17% on Tuesday. Following on from a 3.69% fall on Monday, Ethereum ended the day at $246.5.

Bearish throughout the day, Ethereum fell from an early morning intraday high $266.24 to a late intraday low $244.44.

The reversal saw Ethereum fall through the 23.6% FIB of $257 and the first major support level at $254.87.

Finding support at the second major support level at $244.43, Ethereum briefly recovered to $250 levels before easing back.

At the time of writing, Ethereum was down by 3.72% to $237.33. A mixed start to the day saw Ethereum rise to an early morning high $250.84 before sliding to a low $234.00.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $238.55.

For the day ahead

Ethereum would need to break back through the first major support level and move through to $252 levels to bring the first major resistance level at $260.35 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $250 levels.

Barring a broad-based crypto rebound, resistance at $250 would likely cap any upside.

Failure to move through to $252 levels could see Ethereum fall deeper into the red.

A fall through back through the morning low $234.00 would bring the second major support level at $230.59 into play.

Barring a broad-based crypto sell-off, however, Ethereum should steer clear of sub-$230 support levels.

The second major support level at $230.59 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $238.55

Major Resistance Level: $260.35

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 6.65% on Tuesday. Following on from a 4.65% decline on Monday, Ripple’s XRP ended the day at $0.25281.

Tracking the broader market, Ripple’s XRP slid from an early morning intraday high $0.27124 to a late intraday low $0.25100.

Ripple’s XRP fell through the first major support level at $0.2613 and the second major support level at $0.2519.

Finding support late in the day, Ripple’s XRP broke back through the second major support level.

At the time of writing, Ripple’s XRP was down by 4.47% to $0.24150. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25244 before sliding to a low $0.23410.

Ripple’s XRP fell through the first major support level at $0.2455 and the second major support level at $0.2381.

For the day ahead

Ripple’s XRP will need to break back through the first major support level and hit $0.2580 levels to support a run at the first major resistance level at $0.2657.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.25 levels.

Barring a crypto rebound, resistance at $0.25 would likely leave Ripple’s XRP short of the first major resistance level.

Failure to move back through to $0.2580 levels could see Ripple’s XRP struggle throughout the day.

A fall back through the second major support level at $0.2381 would bring sub-$0.23 levels into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the third major support level at $0.21790.

Looking at the Technical Indicators

Major Support Level: $0.2455

Major Resistance Level: $0.2657

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