Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 13/02/20
EOS
EOS rose by 1.47% on Wednesday. Following on from a 7.12% rally on Tuesday, EOS ended the day at $5.3331.
A bullish start to the day saw EOS rise from an early morning intraday low $5.2556 to late morning high $5.4407.
Steering clear of the major support levels, EOS came up against the first major resistance level at $5.4404 before falling back to $5.26 levels.
The pullback was brief, however, with a broad-based crypto rally driving EOS to a late intraday high $5.4590.
EOS broke through the first major resistance level at $5.4404 before falling back to sub-$5.40 levels.
At the time of writing, EOS was up by 0.27% to $5.3475. A relatively bullish start to the day saw EOS rise from an early morning low $5.3312 to a high $5.3644.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $5.35 levels to support a run at the first major resistance level at $5.4429.
Support from the broader market would be needed, however, for EOS to break out from $5.40 levels.
Barring a broad-based crypto rebound, the first major resistance level and Wednesday’s high $5.4590 would likely limit any upside on the day.
Failure to move back through to $5.35 levels could see EOS hit reverse.
A fall back through the morning low $5.3312 would bring the first major support level at $5.2395 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$5.20 levels.
Looking at the Technical Indicators
Major Support Level: $5.2395
Major Resistance Level: $5.4429
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum surged by 11.98% on Wednesday. Following on from a 6.78% rally on Tuesday, Ethereum ended the day at $266.49.
Bullish throughout the day, Ethereum rallied from an early morning intraday low $237.95 to a late intraday high $276.15.
Ethereum broke through the first major resistance level at $245.99 and the second major resistance level at $254.00.
Of greater significance on the day was a breakthrough the 23.6% FIB of $257 to come up against the third major resistance level at $276.09.
Pinned back by the third major resistance level late on, Ethereum eased back to wrap up the day at sub-$270 levels.
At the time of writing, Ethereum was up by 0.69% to $268.32. A bullish start to the day saw Ethereum rise from an early morning low $265.40 to a high $271.00.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to break back through the morning high $271.00 to bring the first major resistance level at $282.44 into play.
Support from the broader market would be needed, however, for Ethereum to break through to $280 levels.
Barring an extended crypto rally, Ethereum would likely come up short of the second major resistance level at $298.40.
Failure to move back through the morning high $271.00 could see Ethereum give up the early gains.
A fall back through the morning low $265.40 to sub-$260 levels would bring the first major support level at $244.24 into play.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$260 levels.
Looking at the Technical Indicators
Major Support Level: $244.24
Major Resistance Level: $282.44
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 8.26% on Wednesday. Following on from a 2.75% gain on Tuesday, Ripple’s XRP ended the day at $0.30422.
Bullish throughout the day, Ripple’s XRP rallied from an early morning intraday low $0.28102 to a late intraday high $0.30884.
Steering clear of the resistance levels, Ripple’s XRP broke through the first major resistance level at $0.2871 and the second major resistance level at $0.2932.
The third major resistance level at $0.3092 capped the upside on the day. In spite of a late pullback, Ripple’s XRP wrapped up the day at $0.30 levels for the 1st time since November.
At the time of writing, Ripple’s XRP was up by 1.71% to $0.30942. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.30326 to a high $0.30942.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to break back through the morning high $0.30942 to support a run at the first major resistance level at $0.3150
Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.31 levels.
Barring an extended crypto rally, Wednesday’s high $0.30884 and first major resistance level at $0.3150 would likely limit any upside.
Failure to move back through the morning high $0.30942 could see Ripple’s XRP hit reverse.
A fall back through the morning low $0.30326 to sub-$0.30 levels would bring the first major support level at $0.2872 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.29 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.2872
Major Resistance Level: $0.3150
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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