EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 04/06/20
EOS
EOS rose by 0.67% on Wednesday. Following Tuesday’s 5.40% slide, EOS ended the day at $2.6927.
A bearish start to the day saw EOS fall to a mid-morning intraday low $2.6329 before finding support.
Steering clear of the first major support level at $2.5448, EOS rallied to a late intraday high $2.7072.
Coming up against resistance at $2.70, EOS fell short of the first major resistance level at $2.7538.
In the day, a failure to break through the $2.72 pivot left the major resistance levels out of reach.
At the time of writing, EOS was up by 0.10% to $2.6955. A mixed start to the day saw EOS fall to an early morning low $2.6900 before rising to a high $2.7009.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid sub-$2.68 levels to take a run at the first major resistance level at $2.7223 into play.
Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.7072.
Barring another extended crypto rally, the first major resistance level at $2.7223 would likely cap any upside.
Failure to avoid sub-$2.68 levels could see EOS fall deeper into the red.
A fall through the $2.6776 pivot would bring the first major support level at $2.6480 into play.
Barring another crypto meltdown, however, EOS should steer clear of sub-$2.60 support levels. The second major support level at $2.6033 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $2.6480
Major Resistance Level: $2.7223
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 2.90% on Wednesday. Partially reversing a 4.31% slide from Tuesday, Ethereum ended the day at $244.6.
A choppy start to the day saw Ethereum fall to an early morning intraday low $233.28 before finding support.
Steering clear of the first major support level at $224.34, Ethereum rallied to a late intraday high $245.39 before easing back.
Falling short of the first major resistance level at $252.34, Ethereum eased back to wrap up the day at $244 levels.
At the time of writing, Ethereum was down by 0.28% to $243.92. A mixed start to the day saw Ethereum rise to an early morning high $244.98 before falling to a low $242.99.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid sub-$241 levels to support a run at the first major resistance level at $248.90.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $245.39.
Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high should cap any upside.
Failure to avoid sub-$241 levels could see Ethereum fall deeper into the red.
A fall back through the morning low $242.99 to sub-$241 levels would bring the first major support level at $236.79 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear sub-$230 levels on the day.
Looking at the Technical Indicators
Major Support Level: $236.79
Major Resistance Level: $248.90
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 0.59% on Wednesday. Following Tuesday’s 3.75% slide, Ripple’s XRP ended the day at $0.20420.
It was also a choppy start to the day. Ripple’s XRP fell to an early morning intraday low $0.20069 before making a move.
Steering clear of the first major support level at $0.1952, Ripple’s XRP rose to a late intraday high $0.20485.
Falling short of the first major resistance level at $0.2133, Ripple’s XRP fell back into the red before finding late support.
At the time of writing, Ripple’s XRP was down by 0.12% to $0.20396. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.2037 before rising to a high $0.20420.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid sub-$0.2030 levels to support a run at the first major resistance level at $0.2058.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.20485.
Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high would likely cap any upside on the day.
Failure to avoid sub-$0.2030 levels could see Ripple’s XRP fall deeper into the red.
A fall through the morning low $0.20370 to sub-$0.2030 levels would bring the first major support level at $0.2016 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1991.
Looking at the Technical Indicators
Major Support Level: $0.2016
Major Resistance Level: $0.2058
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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