EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 27/05/20

EOS

EOS fell by 0.76% on Tuesday. Partially reversing a 1.50% gain from Monday, EOS ended the day at $2.5070.

A mixed start to the day saw EOS rise to an early morning intraday high $2.5334 before hitting reverse.

Falling short of the first major resistance level at $2.5640, EOS slid to a late afternoon intraday low $2.4600.

EOS fell through the first major resistance level at $2.4679 before finding support to wrap up the day at $2.50 levels.

At the time of writing, EOS was up by 0.52% to $2.5202. A mixed start to the day saw EOS fall to an early morning low $2.5047 before striking a high $2.5233.

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 $2.5403 into play.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.5334.

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 back into the red.

A fall through the morning low to sub-$2.50 levels would bring the first major support level at $2.4669 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.4267.

Looking at the Technical Indicators

Major Support Level: $2.4669

Major Resistance Level: $2.5403

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.58% on Tuesday. Partially reversing a 2.22% gain from Monday, Ethereum ended the day at $200.91.

A mixed start to the day saw Ethereum rise to an early morning intraday high $205.03 before hitting reverse.

Falling short of the first major resistance level at $207.18, Ethereum fell to a late afternoon intraday low $196.65.

The reversal saw Ethereum fall through the first major support level at $199.48 before finding support.

Steering clear of the second major support level at $194.89, Ethereum recovered to $202 levels before easing back.

At the time of writing, Ethereum was up by 0.55% to $202.02. A mixed start to the day saw Ethereum fall to an early morning low $200.76 before striking a high $202.44.

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

For the day ahead

Ethereum would need to avoid sub-$201 levels to bring the first major resistance level at $205.08 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $202.44.

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

Failure to avoid sub-$201 levels could see Ethereum slide into the red.

A fall through the morning low $200.76 levels would bring the first major support level at $196.70 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $192.48.

Looking at the Technical Indicators

Major Support Level: $196.70

Major Resistance Level: $205.08

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 1.20% on Tuesday. Partially reversing a 1.90% gain from Monday, Ripple’s XRP ended the day at $0.19359.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.19680 before hitting reverse.

Falling short of the first major resistance level at $0.1991, Ripple’s XRP slid to a late afternoon intraday low $0.19142.

Steering clear of the first major support level at $0.1912, Ripple’s XRP recovered to $0.1950 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.70% to $0.19495. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19385 to a high $0.19510.

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 $0.1965.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.19510.

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

Failure to avoid sub-$0.1940 levels could see Ripple’s XRP hit reverse.

A fall through to sub-$0.1940 levels would bring the first major support level at $0.1911 into play.

Barring another crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1886.

Looking at the Technical Indicators

Major Support Level: $0.1911

Major Resistance Level: $0.1965

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