EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 15/04/20

EOS

EOS rose by 0.57% on Tuesday. Partially reversing a 2.36% fall from Monday, EOS ended the day at $2.4617.

A mixed start to the day saw EOS rise to an early morning high $2.4789 before falling to a late morning intraday low $2.4149.

Steering clear of the first major support level at $2.3490, EOS rebounded to strike an early afternoon intraday high $2.5077.

Falling well short of the first major resistance level at $2.5197, EOS slipped back to $2.46 levels.

At the time of writing, EOS was up by 1.35% to $2.4949. A mixed start to the day saw EOS fall to an early morning low $2.4290 before striking a high $2.5006.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to move back through to $2.50 levels to support another run at the first major resistance level at $2.5080.

Support from the broader market would be needed, however, for EOS to breakout from the morning high $2.5006.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2.5077 would likely limit any upside.

Failure to move through to $2.50 levels could see EOS hit reverse.

A fall back through to sub-$2.4615 levels would bring the first major support level at $2.4152 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$2.40 levels.

Looking at the Technical Indicators

Major Support Level: $2.4152

Major Resistance Level: $2.5080

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.21% on Tuesday. Reversing most of a 1.30% decline from Monday, Ethereum ended the day at $158.65.

Tracking the broader market, Ethereum fell from an early morning high $159.31 to a late morning intraday low $155.56.

Steering clear of the first major support level at $151.16, Ethereum rallied to a late afternoon intraday high $163.0.

Ethereum broke through the first major resistance level at $160.90 before wrapping up the day at $158 levels.

At the time of writing, Ethereum was up by 1.36% to $160.81. A mixed start to the day saw Ethereum fall to an early morning low $156.0 before striking a high $161.5.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move back through to $161 levels to support a run at the first major resistance level at $162.58.

Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $161.50.

Barring an extended crypto rally, the first major resistance level at $162.5 and Tuesday’s high $163.0 should limit any upside.

Failure to move back through to $161 levels could see Ethereum hit reverse.

A fall through to sub-$159 levels would bring the first major support level at $155.14 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$155 levels.

Looking at the Technical Indicators

Major Support Level: $155.14

Major Resistance Level: $162.58

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 0.89% on Tuesday. Following on from a 0.89% decline on Monday, Ripple’s XRP ended the day at $0.18624.

A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.18894 to a late morning intraday low $0.18350.

Steering clear of the first major support level at $0.1822, Ripple’s XRP rallied to a late afternoon intraday high $0.18946.

Falling well short of the first major resistance level at $0.1919, Ripple’s XRP eased back to sub-$0.1870 levels to end the day in the red.

Resistance at $0.19 continued to pin Ripple’s XRP back.

At the time of writing, Ripple’s XRP was up by 1.03% to $0.18816. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18479 before striking a high $0.18869.

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-$0.1865 levels to support a run at the first major resistance level at $0.1893.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the morning high $0.18869.

Barring an extended crypto rally, the first major resistance level would likely leave Ripple’s XRP short of $0.19 levels.

Failure to avoid sub-$0.1865 levels could see Ripple’s XRP struggle later in the day.

A fall back through the morning low $0.18479 would bring the first major support level at $0.1833 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1804.

Looking at the Technical Indicators

Major Support Level: $0.1833

Major Resistance Level: $0.1893

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