EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 27/01/20

EOS

EOS rallied by 4.43% on Sunday. Reversing a 3.68% slide from Saturday, EOS ended the week up by 1.04% to $3.6500.

A bearish start to the day saw EOS slide to an intraday low $3.4330 before making a move.

EOS fell through the first major support level at $3.4459, before rallying to a late intraday high $3.6670.

Moving back through the first major support level, EOS also broke through the first major resistance level at $3.5911.

At the time of writing, EOS was up by 2.28% to $3.7334. A bullish start to the day saw EOS rise from an early morning low $3.6496 to a high $3.7526.

Steering clear of the major support levels, EOS broke through the first major resistance level at $3.7337.

For the day ahead

EOS would need to break back through the first major resistance level to support a run at the second major resistance level at $3.8173.

Support from the broader market would be needed, however, for EOS to break back through the morning high $3.7526.

Barring an extended crypto rally, the first major resistance level would likely pin EOS back from $3.8 levels.

Failure to move back through the first major resistance level could see EOS hit reverse.

A fall back through to sub-$3.60 levels would bring the first major support level at $3.4997 into play.

Barring another broad-based crypto sell-off, however, EOS should steer clear of sub-$3.50 levels on the day.

Looking at the Technical Indicators

Major Support Level: $3.4997

Major Resistance Level: $3.7337

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 4.59% on Sunday. Reversing a 1.35% fall from Saturday, Ethereum ended the week up by 0.36% to $167.35.

A bearish start to the day saw Ethereum slide to an early morning intraday low $159.09 before finding support.

Steering clear of the first major support level at $157.56 Ethereum rallied to a late intraday high $167.59.

Ethereum broke through the first major resistance level at $162.51 and the second major resistance level at $164.91.

At the time of writing, Ethereum was up by 0.44% to $168.09. A bullish start to the day saw Ethereum rise from an early morning low $167.5 to a high $169.33.

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

For the day ahead

Ethereum would need to move through to $169 levels to support a run at the first major resistance level at $170.26.

Support from the broader market would be needed for Ethereum to break out from the morning high $169.33.

Barring an extended crypto rally, however, resistance at $170 would likely pin Ethereum back from the first major resistance level at $170.26.

In the event of a rebound, Ethereum could visit $171 levels before any pullback.

Failure to move back through to $169 levels could see Ethereum give up the early gains.

A fall through to sub-$164.70 levels would bring the first major support level at $161.76 into play before any recovery.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$160 levels on the day.

Looking at the Technical Indicators

Major Support Level: $161.76

Major Resistance Level: $170.26

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 5.51% on Sunday. Reversing a 1.25% fall from Saturday, Ripple’s XRP ended the week down 1.64% at $0.23149.

A bearish start to the day saw Ripple’s XRP fall to an intraday low $0.21781 before making a move.

Steering clear of the first major support level at $0.2167, Ripple’s XRP rallied to a late intraday high $0.23259.

Ripple’s XRP broke through the first major resistance level at $0.2225 and the second major resistance level at $0.22530.

In a final hour surge, Ripple’s XRP broke through the third major resistance level at $0.2311 to wrap up a solid day.

At the time of writing, Ripple’s XRP was up by 0.5% to $0.23264. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23070 to a high $0.23361.

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

For the day ahead

Ripple’s XRP will need to move back through the morning high $0.23361 levels to support a run at the first major resistance level at $0.2368.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through Sunday’s high $0.23259.

Barring a broad-based crypto rally, the first major resistance level at $0.2368 would likely continue to pin Ripple’s XRP back.

Failure to move back through the morning high $0.23361 could see Ripple’s XRP hit reverse.

A fall through to sub-$0.2270 levels would bring the first major support level at $0.2220 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer of sub-$0.22 levels.

Looking at the Technical Indicators

Major Support Level: $0.2220

Major Resistance Level: $0.2368

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