Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 05/01/20
EOS
EOS rose by just 0.08% on Saturday. Following on from a 7.43% rally on Friday, EOS ended the day at $2.6529.
A mixed start to the day saw EOS fall to an early morning low $2.6320 before striking a mid-morning intraday high $2.6718.
Falling short of the first major resistance level at $2.7414, EOS fell back to a late afternoon intraday low $2.6299.
Steering clear of the first major support level at $2.4996, EOS found late support to close out the day in the green.
At the time of writing, EOS was up by 1.55% to $2.6939. A bullish start to the day saw EOS rise from an early morning low $2.6601 to a high $2.7154.
EOS broke through the first major resistance level at $2.6732 and the second major resistance level at $2.6934 early on.
For the day ahead
EOS would need to move back through to $2.70 levels to support another run at the third major resistance level at $2.7353.
Support from the broader market would be needed, however, for EOS to break through the morning high $2.7154.
Barring an extended broad-based crypto rally, resistance at $2.70 would likely limit any upside on the day.
Failure to move through to $2.70 levels could see EOS hit reverse. A fall back through to the major resistance levels would bring $2.65 levels into play before any recovery.
Barring a crypto meltdown, however, EOS should steer clear of sub-$2.60 levels. The first major support level at $2.6313 and the second major support level at $2.6096 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $2.6313
Major Resistance Level: $2.6732
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slipped by 0.02% on Saturday. Following a 5.80% rally on Friday, Ethereum ended the day at $134.14.
A bearish start to the day saw Ethereum fall to a mid-day intraday low $132.5 before finding support.
Steering clear of the first major support level at $128.15, Ethereum rallied to a late afternoon intraday high $135.75.
Falling short of the first major resistance level at $137.56, Ethereum fell back to $132 levels before finding late support to close out at $134 levels.
At the time of writing, Ethereum was up by 1.02% to $135.51. A bullish start to the day saw Ethereum rally from an early morning low $134.14 to a high $135.90.
Ethereum broke through the first major resistance level at $135.76 before easing back.
For the day ahead
Ethereum would need to break back through to the first major resistance level to support a run at $137 levels.
Support from the broader market would be needed for Ethereum to break out from the morning high $135.90.
Barring a broad-based crypto rally, however, resistance at $135 would likely continue to limit any upside on the day.
In the event of an extended rally, Ethereum could eye $140 levels before any pullback.
Failure to move back through the first major resistance level could see Ethereum hit reverse. A pullback through the morning low to sub-$134 levels would bring the first major support level at $132.51 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of sub-$130 levels.
The second major resistance level at $130.88 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $132.51
Major Resistance Level: $135.76
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 0.26% on Saturday. Following a 3.16% gain from Friday, Ripple’s XRP ended the day at $0.19352.
A mixed start to the day saw Ripple’s XRP strike an early morning intraday high $0.19464 before hitting reverse.
Falling short of the first major resistance level at $0.1976, Ripple’s XRP fell to a late afternoon intraday low $0.19167.
Steering clear of the first major support level at $0.1879, Ripple’s XRP found support late on to limit the loss on the day.
At the time of writing, Ripple’s XRP was up by 0.86% to $0.19519. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19351 to a high $0.19626.
Ripple’s XRP broke through the first major resistance level at $0.1949 to come up against the second major resistance level at $0.1962.
For the day ahead
Ripple’s XRP will break through the second major resistance level to bring the third major resistance level at $0.1992 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.1960 levels.
Barring an extended rally through the day, the second major resistance level would likely limit any upside.
Failure to move through the morning high $0.19626 could see Ripple’s XRP hit reverse.
A fall through the first major resistance level to sub-$0.1930 levels would bring the first major support level at $0.1919 into play.
Barring a crypto meltdown, however, Ripple’s XRP should continue to steer of sub-$0.19 levels.
The second major support level at $0.1903 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $0.1919
Major Resistance Level: $0.1949
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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