EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 28/04/20

EOS

EOS rose by 0.12% on Monday. Following on from a 1.76 gain on Sunday, EOS ended the day at $2.7431.

A bullish start to the day saw EOS rally to an early morning intraday high $2.8181 before hitting reverse.

EOS broke through the first major resistance level at $2.7900 before sliding back to an early afternoon intraday low $2.6782.

EOS fell through the first major support level at $2.6851 before a late recovery to $2.74 levels.

At the time of writing, EOS was down by 1.42% to $2.7040. A bearish start to the day saw EOS fall from an early morning high $2.7423 to a low $2.7034.

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

For the day ahead

EOS would need to move through to $2.7470 levels to support a run at the first major resistance level at $2.8147.

Support from the broader market would be needed, however, for EOS to break back through to $2.80 levels.

Barring another extended crypto rally, resistance at $2.80 would likely leave EOS short of the first major resistance level.

Failure to move through to $2.7470 levels could see EOS struggle throughout the day.

A fall through to sub-$2.70 levels would bring the first major support level at $2.6748 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer well clear of the second major support level at $2.6066.

Looking at the Technical Indicators

Major Support Level: $2.6748

Major Resistance Level: $2.8147

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.52% on Monday. Partially reversing a 1.75% gain from Sunday, Ethereum ended the day at $196.78. It was Ethereum’s first day in the red since 20^th April…

A mixed start to the day saw Ethereum rise to an early morning intraday high $199.41 before hitting reverse.

Falling short of the first major resistance level at $201.04, Ethereum tumbled to an early afternoon intraday low $189.60.

Falling through the first major support level at $193.58, Ethereum found support at the second major support level at $189.33.

Late in the day, Ethereum recovered to $196 levels to limit the downside on the day.

At the time of writing, Ethereum was down by 1.87% to $193.11. A bearish start to the day saw Ethereum fall from an early morning high $196.99 to a low $192.70.

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

For the day ahead

Ethereum would need to move through to $195.30 levels to support a run at the first major resistance level at $200.93.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $199.41.

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

Failure to move through to $195.30 levels could see Ethereum fall deeper into the red.

A fall back through the morning low $192.70 would bring the first major support level at $191.12 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $185.45.

Looking at the Technical Indicators

Major Support Level: $191.12

Major Resistance Level: $200.93

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 0.67% on Monday. Following on from a 1.15% gain on Sunday, Ripple’s XRP ended the day at $0.19763.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.19960 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.1990 before sliding to a late afternoon intraday low $0.19423.

Steering clear of the first major support level at $0.1923, Ripple’s XRP recovered to $0.1970 levels to end the day in the green.

At the time of writing, Ripple’s XRP was down by 1.17% to $0.19531. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.19759 to a low $0.19470.

Steering clear of the major resistance levels, Ripple’s XRP tested the first major support level early on.

For the day ahead

Ripple’s XRP will need to move through to $0.1970 levels to support a run at the first major resistance level at $0.2001.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.19960.

Barring an extended crypto rally, the first major resistance level at $0.2001 and Monday’s high would likely limit any upside.

Failure to move through to $0.1970 levels could see Ripple’s XRP fall deeper into the red.

A fall back through to sub-$0.1950 levels would bring the first major support level at $0.1947 back into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.19 levels. The second major support level at $0.1918 would likely limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.1947

Major Resistance Level: $0.2001

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