Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 15/01/20
EOS
EOS rallied by 22.09% on Tuesday. Reversing a 3.16% slide from Monday with interest, EOS ended the day at $3.7923.
A particularly bullish day saw EOS rally from an early morning intraday low $3.1054 to an afternoon intraday high $4.0596.
EOS broke through the major resistance levels to visit $4.00 levels for the 1st time since late September.
In spite of a late pullback to sub-$4.00 levels, EOS held above the third major resistance level at $3.4188 through to the day end.
At the time of writing, EOS was down by 0.27% to $3.7821. A mixed start to the day saw EOS fall to an early morning low $3.7300 before striking a high $3.9400.
EOS left the major support and resistance untested before falling back into the red.
For the day ahead
EOS would need to move back through the morning high $3.9400 to support a run at the first major resistance level at $4.1995.
Support from the broader market would be needed, however, for EOS to breakout from Tuesday’s high $4.0596.
Barring another broad-based crypto rally, the first major resistance at $4.1995 would likely cap any upside on the day.
Failure to move back through the morning highs could see EOS fall deeper into the red.
A fall back through the morning low to sub-$3.65 levels would bring the first major support level at $3.2453 into play.
Barring a crypto meltdown, however, EOS should steer clear of Tuesday’s low $3.1054.
Looking at the Technical Indicators
Major Support Level: $3.2453
Major Resistance Level: $4.1995
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 15.51% on Tuesday. Reversing a 2.07% fall from Monday, Ethereum ended the day at $165.76.
Bullish through the day, Ethereum rallied from an early morning intraday low $143.45 to a late afternoon intraday high $170.83.
Ethereum broke through the major resistance levels to hit $170 levels for the 1st time since September.
In spite of a late pullback to $160 levels, Ethereum held above the third major resistance level at $154.00.
At the time of writing, Ethereum was down by 1.62% to $163.08. A mixed start to the day saw Ethereum rise to an early morning high $172.18 before falling to a low $162.60.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $170 levels to support a run at the first major resistance level at $176.58.
Support from the broader market would be needed for Ethereum to break through the morning high $172.18.
Barring a broad-based crypto rebound, however, the first major resistance level at $176.58 would likely cap any upside.
Failure to move back through to $170 levels could see Ethereum fall deeper into the red.
A fall back through to sub-$160 levels would bring the first major support level at $149.20 into play.
Barring a crypto sell-off, however, Ethereum should steer clear of sub-$150 levels.
Looking at the Technical Indicators
Major Support Level: $149.20
Major Resistance Level: $176.58
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 10.68 % on Tuesday. Reversing a 1.84% decline from Monday, Ripple’s XRP ended the day at $0.23375.
Tracking the broader market, Ripple’s XRP rallied from an early morning intraday low $0.21113 to a late intraday high $0.24447.
Ripple’s XRP broke through the day’s major resistance levels to visit $0.24 levels for the first time since 22nd November.
In spite of a late pullback to $0.23 levels, Ripple’s XRP held above the third major resistance level at $0.2238.
At the time of writing, Ripple’s XRP was down by 0.16% to $0.23337. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.23000 before striking a high $0.24233.
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 $0.24 levels to support a run at the first major resistance level at $0.2484.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.24233.
Barring a broad-based crypto rebound, the first major resistance level at $0.2484 would likely limit any upside.
Failure to move back through to $0.24 levels could see Ripple’s XRP fall further back.
A fall back to sub-$0.23 levels would bring the first major support level at $0.2151 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.23 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.2151
Major Resistance Level: $0.2484
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
