Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 04/01/20
EOS
EOS rallied by 7.43% on Friday. Reversing a 5.37% slide from Thursday, EOS ended the day at $2.6508.
A bearish start to the day saw EOS fall to an early morning intraday low $2.4389 before making a move.
Steering clear of the first major support level at $2.3973, EOS rallied to a late afternoon intraday high $2.6807.
EOS broke through the first major resistance level at $2.5754 before easing back. The second major resistance level at $2.6830 limited the upside on the day.
At the time of writing, EOS was down by 0.32% to $2.6423. A bearish start to the day saw EOS fall from an early morning high $2.6572 to a low $2.6320.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to Friday’s high $2.6807 to support a run at the first major resistance level at $2.7414.
Support from the broader market would be needed, however, for EOS to break through the morning high $2.6572 levels.
Barring an extended broad-based crypto rally, the first major resistance level would likely limit any upside on the day.
Failure to move through to $2.68 levels could see EOS slide deeper into the red. A fall back through to sub-$2.60 levels would bring the first major support level at $2.4996 into play.
Barring a crypto meltdown, however, EOS should steer well clear of the second major support level at $2.3483.
Looking at the Technical Indicators
Major Support Level: $2.4996
Major Resistance Level: $2.7414
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 5.80% on Friday. Reversing a 2.56% fall from Thursday, Ethereum ended the day at $134.17.
A bearish start to the day saw Ethereum fall to an early morning intraday low $125.52 before finding support.
Steering clear of the first major support level at $125.03, Ethereum rallied to a late afternoon intraday high $134.93.
Ethereum broke through the first major resistance level at $129.38 and the second major resistance level at $131.96.
Falling short of the third major resistance level at $136.31, Ethereum fell back to $131 levels before a final-hour rally.
The final hour rally saw Ethereum break back through the second major resistance level to wrap up the day at $134 levels.
At the time of writing, Ethereum was down by 0.84% to $133.04. A bearish start to the day saw Ethereum fall from an early morning high $134.73 to a low $132.59.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to Friday’s high $134.93 to support a run at the first major resistance level at $137.56.
Support from the broader market would be needed for Ethereum to break back through to $135 levels.
Barring a broad-based crypto rally, however, resistance at $135 would likely limit any upside on the day.
In the event of an extended rally, Ethereum could eye $140 levels and the second major resistance level at $140.95.
Failure to move through to Friday’s high could see Ethereum slide deeper into the red. A pullback through the morning low $132.59 would bring the first major support level at $128.15 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of Friday’s low $125.52
Looking at the Technical Indicators
Major Support Level: $128.15
Major Resistance Level: $137.56
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 3.16% on Friday. Reversing a 2.57% slide from Thursday, Ripple’s XRP ended the day at $0.19413.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.18519 before making a move.
Finding support at the first major support level at $0.1850, Ripple’s XRP rallied to an early afternoon intraday high $0.19481.
Ripple’s XRP broke through the first major resistance level at $0.1924 before falling back to $0.191 levels.
Find support late in the day, Ripple’s XRP broke back through the first major resistance level to hold onto $0.19 levels at the day end.
At the time of writing, Ripple’s XRP was down by 0.36% to $0.19343. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19464 to a low $0.19265.
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 the morning high $0.19464 support a run at the first major resistance level at $0.1976.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.19481.
Barring an extended rally through the day, the first major resistance level and Friday’s high $0.19481 would likely limit any upside.
Failure to move through the morning high $0.19464 could see Ripple’s XRP struggle throughout the day.
A fall to sub-$0.1920 levels would bring the first major support level at $0.18579 into play.
Barring a crypto meltdown, however, Ripple’s XRP should continue to steer of sub-$0.19 levels.
Looking at the Technical Indicators
Major Support Level: $0.1879
Major Resistance Level: $0.1976
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
