EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 26/04/20

EOS

EOS fell by 0.17% on Saturday. Following on from a 0.63% gain on Friday, EOS ended the day at $2.6982.

A mixed start to the day saw EOS fall to an early morning low $2.6867 before making a move.

Steering clear of the first major support level at $2.6708, EOS struck a mid-morning high $2.7606 before easing back.

EOS broke through the first major resistance level at $2.7466 before falling back to sub-$2.7040 levels.

In the 2^nd half of the day, EOS rallied to an early afternoon intraday high $2.8050 before sliding to an intraday low $2.6515.

EOS broke back through the first major resistance level at $2.7466 and the second major resistance level at $2.7838.

The pullback saw EOS fall through the first major support level at $2.6708 before briefly recovering to $2.70 levels.

At the time of writing, EOS was up by 0.95% to $2.7239. A bullish start to the day saw EOS rise from an early morning low $2.6956 to a high $2.7247.

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

For the day ahead

EOS would need to avoid sub-$2.72 levels to support a run at the first major resistance level at $2.7850.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.7247.

Barring another extended crypto rally, the first major resistance level at $2.7850 would likely limit any upside.

Failure to avoid sub-$2.72 levels could see EOS struggle later in the day.

A fall through to sub-$2.7180 levels would bring the first major support level at $2.6315 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer well clear of sub-$2.60 levels.

Looking at the Technical Indicators

Major Support Level: $2.6315

Major Resistance Level: $2.7850

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 3.46% on Saturday. Following on from a 2.59% gain on Friday, Ethereum ended the day at $194.42.

A mixed start to the day saw Ethereum fall to an early morning intraday low $185.97 before making a move.

Steering clear of the first major support level at $185.24, Ethereum rallied to an early afternoon intraday high $198.20.

Ethereum broke through the major resistance levels before pulling back to sub-$192 levels.

The pullback saw Ethereum fall back through the third major resistance level at $197.45.

Finding support at the second major resistance level at $192.52, Ethereum bounced back to wrap up the day at $194 levels.

At the time of writing, Ethereum was up by 0.63% to $195.64. A bullish start to the day saw Ethereum rise from an early morning low $193.86 to a high $195.90.

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

For the day ahead

Ethereum would need to avoid sub-$193 levels to support a run at the first major resistance level at $199.76.

Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $198.20.

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

Failure to avoid sub-$193 levels could see Ethereum hit reverse.

A fall back through to sub-$192.85 levels would bring the first major support level at $187.53 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $180.63.

Looking at the Technical Indicators

Major Support Level: $187.53

Major Resistance Level: $199.76

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 0.38% on Saturday. Following on from a 0.50% gain on Friday, Ripple’s XRP ended the day at $0.19418.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.19165 before making a move.

Steering clear of the first major support level at $0.1915, Ripple’s XRP rallied to an early afternoon intraday high $0.19795.

Ripple’s XRP broke through the first major resistance level at $0.1966 before easing back to sub-$0.1930 levels.

Finding late support, Ripple’s XRP recovered to $0.1940 levels to end the day in the green.

At the time of writing, Ripple’s XRP was up by 0.47% to $0.19510. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19392 to a high $0.19539.

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-$0.1945 levels to support a run at the first major resistance level at $0.1975.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the morning high $0.19539.

Barring an extended crypto rally, the first major resistance level at $0.1975 and Saturday’s high $0.19795 would likely limit any upside.

Failure to avoid sub-$0.1945 levels could see Ripple’s XRP hit reverse.

A fall through the morning low $0.19392 would bring the first major support level at $0.1912 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.19 levels.

Looking at the Technical Indicators

Major Support Level: $0.1912

Major Resistance Level: $0.1975

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