EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 13/04/20

EOS

EOS fell by 0.28% on Sunday. Partially reversing a 0.65% gain from Saturday, EOS ended the week up by 6.23% to $2.5029.

A bearish start to the day saw EOS fall to an early morning intraday low $2.4582 before making a move.

Steering clear of the first major support level at $2.4443, EOS rallied to a late afternoon intraday high $2.5962.

EOS broke through the first major resistance level at $2.5647 before sliding back late in the day.

At the time of writing, EOS was down by 3.60% to $2.4129. A bearish start to the day saw EOS fall from an early morning high $2.5021 to a low $2.3314.

EOS fell through the first major support level at $2.4420 and the second major support level at $2.3811 before finding support.

For the day ahead

EOS would need to move through the first major support level to $2.52 levels to support a run at the first major resistance level at $2.5800.

Support from the broader market would be needed, however, for EOS to break back through to $2.50 levels.

Barring a broad-based crypto rebound, resistance at $2.50 would likely leave EOS short of the first major resistance level.

Failure to move through to $2.52 levels could see EOS fall deeper into the red.

A fall back through the second major support level at $2.3811 would bring the third major support level at $2.2431 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.30 levels.

Looking at the Technical Indicators

Major Support Level: $2.4420

Major Resistance Level: $2.5800

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by just 0.12% on Sunday. Following on from a 0.28% gain on Saturday, Ethereum ended the week up by 11.26% at $158.87.

A bearish start to the day saw Ethereum fall to an early morning intraday low $155.31 before finding support.

Steering clear of the first major support level at $154.67, Ethereum rallied to a late afternoon intraday high $165.45.

Ethereum broke through the first major resistance level at $161.97 before sliding back to sub-$160 levels. The second major resistance level at $165.38 limited the upside on the day.

At the time of writing, Ethereum was down by 3.61% to $153.14. A bearish start to the day saw Ethereum fall from an early morning high $158.82 to a low $149.70.

Falling short of the major resistance levels, Ethereum fell through the first major support level at $153.97 early on. The second major support level at $149.07 limited the downside early on.

For the day ahead

Ethereum would need to move back through the first major support level to $160 levels to support a run at the first major resistance level at $165.11.

Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $158.82.

Barring a broad-based crypto rebound, resistance at $160 would likely leave Ethereum short of the first major resistance level.

Failure to move back through to $160 levels could see Ethereum fall deeper into the red.

A fall back through to sub-$150 levels would bring the second major support level at $149.07 back into play.

Barring an extended crypto sell-off, Ethereum should continue to steer clear of sub-$140 support levels.

Looking at the Technical Indicators

Major Support Level: $153.97

Major Resistance Level: $165.11

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 0.72% on Sunday. Following on from a 0.27% gain on Saturday, Ripple’s XRP ended the week up by 5.79% to $0.18994.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.18631 before finding support.

Steering clear of the first major support level at $0.1851, Ripple’s XRP rallied to a late afternoon intraday high $0.19626.

Ripple’s XRP broke through the first major resistance level at $0.1923 before sliding back to sub-$0.19 levels. The second major resistance level at $0.1960 capped the upside on the day.

At the time of writing, Ripple’s XRP was down by 2.98% to $0.18428. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18975 to a low $0.18010.

Falling short of the major resistance levels, Ripple’s XRP slid through the first major support level at $0.1854. The second major support level at $0.1809 limited the downside early on.

For the day ahead

Ripple’s XRP will need to move back through the first major support level to $0.19 levels to support a run at the first major resistance level at $0.1954.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.19 levels.

Barring a broad-based crypto rebound, resistance at $0.19 would likely leave Ripple’s XRP short of the first major resistance level.

Failure to move back through to $0.19 levels could see Ripple’s XRP struggle throughout the day.

A fall through the second major support level at $0.1809 would bring sub-$0.18 levels into play before any recovery.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the third major support level at $0.1709.

Looking at the Technical Indicators

Major Support Level: $0.1854

Major Resistance Level: $0.1954

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