Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 24/05/20
EOS
EOS fell by 1.04% on Saturday. Partially reversing a 5.24% rally from Friday, EOS ended the day at $2.5665.
A bullish start to the day saw EOS rise to an early morning intraday high $2.6204 before hitting reverse.
Falling short of the first major resistance level at $2.6676, EOS slid to a late afternoon intraday low $2.5457.
Steering clear of the first major support level at $2.4736, EOS briefly recovered to $2.58 levels before easing back.
At the time of writing, EOS was up by 0.60% to $2.5820. A mixed start to the day saw EOS fall to an early morning low $2.5587 before striking a high $2.5869.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $2.60 levels to bring the first major resistance level at $2.6094 into play.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.5789.
Barring a broad-based crypto rally, the major first resistance level would likely limit any upside on the day.
Failure to move back through to $2.60 levels could see EOS slide into the red.
A fall through to sub-$2.5770 levels would bring the first major support level at $2.5347 into play.
Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.5028.
Looking at the Technical Indicators
Major Support Level: $2.5347
Major Resistance Level: $2.6094
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 0.31% on Saturday. Partially reversing a 4.39% rally from Friday, Ethereum ended the day at $206.66.
A bullish start to the day saw Ethereum rise to an early morning intraday high $211.30 before hitting reverse.
Falling short of the first major resistance level at $212.36, Ethereum fell to a midday intraday low $204.56.
Steering clear of the first major support level at $199.20, Ethereum recovered to $208 levels before a final hour pullback.
At the time of writing, Ethereum was up by 0.56% to $207.82. A mixed start to the day saw Ethereum fall to an early morning low $205.01 before striking a high $207.83.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid sub-$207.50 levels to bring the first major resistance level at $210.45 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $207.83.
Barring an extended crypto rally, the first major resistance level and Saturday’s high $211.30 would likely limit any upside.
Failure to avoid sub-$207.50 levels could see Ethereum slide into the red.
A fall through to sub-$207.50 levels would bring the first major support level at $203.71 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$200 levels.
The second major support level at $200.77 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $203.71
Major Resistance Level: $210.45
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 0.90% on Saturday. Partially reversing a 3.30% rally on Friday, Ripple’s XRP ended the day at $0.19862.
Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.20220 before taking a hit.
Falling short of the first major resistance level at $0.2046, Ripple’s XRP fell to a midday low $0.19805.
Steering clear of the major support levels, Ripple’s XRP recovered to $0.20 levels before a late pullback.
The pullback saw Ripple’s XRP fall to a final hour intraday low $0.019798. In spite of the reversal, Ripple’s steered clear of the first major support level at $0.1941.
At the time of writing, Ripple’s XRP was up by 0.52% to $0.19965. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.19834 before striking a high $0.19999.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through to $0.20 levels to support a run at the first major resistance level at $0.2012.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.19999.
Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.
Failure to move through to $0.20 levels could see Ripple’s XRP hit reverse.
A fall through to sub-$0.1990 levels would bring the first major support level at $0.1970 into play.
Barring another crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1954.
Looking at the Technical Indicators
Major Support Level: $0.1970
Major Resistance Level: $0.2012
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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