EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 26/05/20

EOS

EOS rose by 1.50% on Monday. Partially reversing a 2.84% fall from Sunday, EOS ended the day at $2.5249.

A bearish start to the day saw EOS fall to an early morning intraday low $2.4500 before making a move.

Holding above the first major support level at $2.4477, EOS rose to a late morning intraday high $2.5461.

Falling well short of the first major resistance level at $2.5678, EOS fell back to sub-$2.50 levels by late morning.

Finding support through the 2^nd half of the day, however, Litecoin moved back through to $5.3 levels before easing back.

At the time of writing, EOS was down by 0.47% to $2.5131. A mixed start to the day saw EOS rise to an early morning high $2.5328 before falling to a low $2.5125.

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

For the day ahead

EOS would need to move back through to $2.53 levels to bring the first major resistance level at $2.5640 into play.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.5461.

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 $2.53 levels could see EOS slide deeper into the red.

A fall through the morning low to sub-$2.5070 levels would bring the first major support level at $2.4679 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.4109.

Looking at the Technical Indicators

Major Support Level: $2.4679

Major Resistance Level: $2.5640

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.22% on Monday. Partially reversing a 3.38% slide from Sunday, Ethereum ended the day at $204.06.

A bearish start to the day saw Ethereum slide to an early morning intraday low $198.01 before making a move.

Steering clear of the first major support level at $195.73, Ethereum rose to an early evening intraday high $205.71.

Falling short of the first major resistance level at $207.10, Ethereum eased back to wrap up the day at $204 levels.

At the time of writing, Ethereum was down by 0.08% to $203.90. A mixed start to the day saw Ethereum rise to an early morning high $204.75 before falling to a low $203.60.

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

For the day ahead

Ethereum would need to move through to $205 levels to bring the first major resistance level at $207.18 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $205.71.

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

Failure to move through to $205 levels could see Ethereum slide deeper into the red.

A fall through the morning low to sub-$202.60 levels would bring the first major support level at $199.48 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $194.89.

Looking at the Technical Indicators

Major Support Level: $199.48

Major Resistance Level: $207.18

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 1.90% on Monday. Partially reversing a 3.27% fall from Sunday, Ripple’s XRP ended the day at $0.19614.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.18928 before finding support.

Coming within range of the first major support level at $0.1892, Ripple’s XRP rose to a final hour intraday high $0.19716.

Falling short of the first major resistance level at $0.1985, Ripple’s XRP eased back to $0.1961 levels at the day end.

At the time of writing, Ripple’s XRP was down by 0.22% to $0.19571. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.19680 before falling to a low $0.19570.

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-$0.1940 levels to support a run at the first major resistance level at $0.1991.

Support from the broader market would be needed, however, for Ripple’s XRP to break out Monday’s high $0.19716.

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

Failure to avoid sub-$0.1940 levels could see Ripple’s XRP fall deeper into the red.

A fall through to sub-$0.1940 levels would bring the first major support level at $0.1912 into play.

Barring another crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1863.

Looking at the Technical Indicators

Major Support Level: $0.1912

Major Resistance Level: $0.1991

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