EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 04/04/20
EOS
EOS rose by 1.69% on Friday. Following on from a 1.28% gain on Thursday, EOS ended the day at $2.3342.
A bullish start to the day saw EOS rise to a late morning intraday high $2.3883 before hitting reverse.
Falling short of the first major resistance level at $2.4690, EOS fell to a late afternoon intraday high $2.2720.
Steering well clear of the first major support level at $2.1909, EOS recovered to $2.30 levels to end the day in the green.
At the time of writing, EOS was down by 0.78% to $2.3159. A mixed start to the day saw EOS rise to an early morning high $2.3471 before falling to a low $2.3000.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $2.33 levels to support a run at the first major resistance level at $2.3910.
Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.3883.
Barring an extended crypto rally, resistance at $2.40 would likely leave EOS short of the second major resistance level at $2.4478.
Failure to move back through to $2.33 levels could see EOS fall deeper into the red.
A fall back through the morning low $2.30 would bring the first major support level at $2.2747 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer clear of the second major support level at $2.2152.
Looking at the Technical Indicators
Major Support Level: $2.2747
Major Resistance Level: $2.3910
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by just 0.04% on Friday. Following on from a 3.96% rally on Thursday, Ethereum ended the day at $141.54.
Tracking the broader market, Ethereum rallied to a late morning intraday high $144.79 before hitting reverse.
Falling short of the first major resistance level at $149.50, Ethereum slid to a late afternoon intraday low $138.00.
Steering clear of the first major support level at $134.56, Ethereum found late support from the broader market to end the day flat.
At the time of writing, Ethereum was down by 0.52% to $140.8. A mixed start to the day saw Ethereum rise to an early morning high $142.45 before falling to a low $139.04.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $142 levels to support a run at the first major resistance level at $146.23.
Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $142.45.
Barring an extended crypto rally, the first major resistance level at $146.23 would likely leave Ethereum short of $150 levels.
Failure to move back through to $142 levels could see Ethereum struggle later in the day.
A fall through to sub-$140 levels would bring the first major support level at $137.42 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$135 support levels.
Looking at the Technical Indicators
Major Support Level: $137.42
Major Resistance Level: $146.23
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 0.59% on Friday. Following on from a 1.53% gain on Thursday, Ripple’s XRP ended the day at $0.17969.
A relatively bullish day saw Ripple’s XRP rally to a noon intraday high $0.1830 before hitting reverse.
Falling short of the first major resistance level at $0.1859, Ripple’s XRP fell to a late afternoon intraday low $0.1765.
Steering clear of the first major support level at $0.1734, Ripple’s XRP briefly visited $0.18 levels before easing back.
At the time of writing, Ripple’s XRP was up by 0.09% to $0.17971. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.17800 to a high $0.18027.
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 $0.18 levels to support a run at the first major resistance level at $0.1830.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.18027.
Barring an extended crypto rally, the first major resistance level at $0.1830 would likely limit any upside on the day.
Failure to move back through to $0.18 levels could see Ripple’s XRP slide back into the red.
A fall through the morning low $0.17800 would bring the first major support level at $0.1765 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1732.
Looking at the Technical Indicators
Major Support Level: $0.1765
Major Resistance Level: $0.1830
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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