Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 05/04/20
EOS
EOS rose by 1.25% on Saturday. Following on from a 1.69% gain on Friday, EOS ended the day at $2.3654.
A choppy start to the day saw EOS rise to a late morning intraday high $2.3514 before hitting reverse.
Falling short of the first major resistance level at $2.3910, EOS fell to a late morning intraday low $2.2893.
Steering clear of the first major support level at $2.2747, EOS rallied to a late intraday high $2.4072 before easing back.
EOS broke through the first major resistance level at $2.3910 before wrapping up the day at $2.36 levels.
At the time of writing, EOS was down by 0.19% to $2.3608. A mixed start to the day saw EOS rise to an early morning high $2.3799 before falling to a low $2.3569.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $2.37 levels to support a run at the first major resistance level at $2.4186.
Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.4072.
Barring an extended crypto rally, resistance at $2.40 would likely leave EOS short of the first major resistance level at $2.4186.
Failure to move back through to $2.37 levels could see EOS fall deeper into the red.
A fall back through the morning low $2.3569 to sub-$2.35 levels would bring the first major support level at $2.3007 into play.
Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.2361.
Looking at the Technical Indicators
Major Support Level: $2.3007
Major Resistance Level: $2.4186
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 2.12% on Saturday. Following on from a 0.04% gain on Friday, Ethereum ended the day at $144.48.
A bearish start to the day saw Ethereum fall to an early morning intraday low $139.04 before finding support.
Steering clear of the first major support level at $137.42, Ethereum struck a late morning high $144.38 before sliding back.
Falling short of the first major resistance level at $146.23, Ethereum fell back to $140 levels before making a move.
A bullish afternoon saw Ethereum rally to a late intraday high $146.69 before easing back. The first major resistance level at $146.23 pinned Ethereum back on the day.
At the time of writing, Ethereum was down by 0.22% to $144.16. A mixed start to the day saw Ethereum rise to an early morning high $145.98 before falling to a low $143.76.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $145 levels to support a run at the first major resistance level at $147.77.
Support from the broader market would be needed, however, for Ethereum to breakout from Saturday’s high $146.69.
Barring an extended crypto rally, the first major resistance level at $147.77 would likely leave Ethereum short of $150 levels.
Failure to move back through to $145 levels could see Ethereum struggle later in the day.
A fall through to sub-$143.40 levels would bring the first major support level at $140.12 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$140 support levels.
Looking at the Technical Indicators
Major Support Level: $140.12
Major Resistance Level: $147.77
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 1.17% on Saturday. Following on from a 0.59% gain on Friday, Ripple’s XRP ended the day at $0.18182.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.1780 before making a move.
Steering clear of the first major support level at $0.1765, Ripple’s XRP struck a late morning high $0.18219.
Coming up against the first major resistance level at $0.1830, Ripple’s XRP fell back to $0.1780 levels before making a move.
An afternoon rally saw Ripple’s XRP break through the first major resistance level to strike a late intraday high $0.18389.
A late pullback, however, left Ripple’s XRP at $0.181 levels.
At the time of writing, Ripple’s XRP was down by 0.45% to $0.18101. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.18268 before falling to a low $0.18085.
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 to $0.1815 levels to support a run at the first major resistance level at $0.1845.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.18389.
Barring an extended crypto rally, the first major resistance level at $0.1845 would likely limit any upside on the day.
In the event of a breakout, Ripple’s XRP could break through the second major resistance level at $0.1871 to visit $0.19 levels.
Failure to move back through to $0.1815 levels could see Ripple’s XRP slide deeper into the red.
A fall through the morning low $0.18085 would bring the first major support level at $0.1786 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1753.
Looking at the Technical Indicators
Major Support Level: $0.1786
Major Resistance Level: $0.1845
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
This article was originally posted on FX Empire
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