Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/01/20
EOS
EOS rose by 1.76% on Friday. Partially reversing a 2.01% slide from Thursday, EOS ended the day at $3.6329.
A bearish start to the day saw EOS slide to a late morning intraday low $3.3555 before making a move.
Steering clear of the first major support level at $3.4971, EOS rallied to a late intraday high $3.7049.
EOS broke through the first major resistance level at $3.6504 before falling back to $6.30 levels.
At the time of writing, EOS was up by 0.04% to $3.6345. A range-bound start to the day saw EOS rise from an early morning low $3.6297 to a high $3.6355.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to break back through to $3.70 levels to support a run at the first major resistance level at $3.7734.
Support from the broader market would be needed, however, for EOS to break out from Friday’s high $3.7049.
Barring a broad-based crypto rally, the first major resistance level, and Friday’s high would likely cap any upside.
Failure to move through to $3.70 levels could see EOS struggle throughout the day.
A fall back through to sub-$3.56 levels would bring the first major support level at $3.4240 into play.
Barring another broad-based crypto sell-off, however, EOS should steer clear of sub-$3.40 levels and Friday’s low $3.3555.
Looking at the Technical Indicators
Major Support Level: $3.4240
Major Resistance Level: $3.7734
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 0.12% on Friday. Following on from a 3.18% slide on Thursday, Ethereum ended the day at $162.3.
A bearish start to the day saw Ethereum slide to a late morning intraday low $154.48 before finding support.
Ethereum fell through the first major support level at $157.96 before rallying to an early evening intraday high $164.21.
Falling short of the first major resistance level at $167.31, Ethereum fell back to close out the day in the red.
At the time of writing, Ethereum was down by 0.76% to $161.07. A bearish start to the day saw Ethereum fall from an early morning high $162.35 to a low $161.15.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $163 levels to support a run at the first major resistance level at $166.18
Support from the broader market would be needed, however, for Ethereum to break back through to $165 levels.
Barring a broad-based crypto rebound, Ethereum will likely fall well short of $166 levels on the day.
In the event of a rebound, the first major resistance at $166.18 would likely limit any upside.
Failure to move back through to $163 levels could see Ethereum remain in the red.
A fall through to sub-$160.30 levels would bring the first major support level at $156.45 into play before any recovery.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $150.60.
Looking at the Technical Indicators
Major Support Level: $156.45
Major Resistance Level: $166.18
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 1.53% on Friday. Following a 4.71% slide on Thursday, Ripple’s XRP ended the day at $0.22242.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.22628 before hitting reverse.
Falling short of the first major resistance level at $0.2351, Ripple’s XRP slid to a late morning intraday low $0.21411.
Ripple’s XRP fell through the first major support level at $0.2187 before recovering to $0.225 levels.
Pressure through the latter part of the day, however, led to a pullback to leave Ripple’s XRP deep in the red at the day end.
At the time of writing, Ripple’s XRP was down by 0.58% to $0.22114. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.22278 before falling to a low $0.22069.
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 $0.2250 levels to support a run at the first major resistance level at $0.2278.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.22628.
Barring a broad-based crypto rally, the first major resistance level at $0.2278 would likely pin Ripple’s XRP back from $0.23 levels.
Failure to move back through to $0.2250 levels could see Ripple’s XRP struggle throughout the day.
A fall through to sub-$0.2210 levels would bring the first major support level at $0.2156 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer of sub-$0.21 levels.
Looking at the Technical Indicators
Major Support Level: $0.2156
Major Resistance Level: $0.2278
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
