EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 30/05/20

EOS

EOS slipped by 0.02% on Friday. Following a 1.67% gain from Thursday, EOS ended the day at $2.6153.

A bullish start to the day saw EOS rise to an early morning intraday high $2.6747 before hitting reverse.

EOS broke through the first major resistance level at $2.6543 before sliding to a mid-afternoon intraday low $2.5909.

Steering clear of the first major support level at $2.5476, EOS recovered to $2.61 levels to end the day flat.

At the time of writing, EOS was down by 0.23% to $2.6093. A bearish start to the day saw EOS fall from an early morning high $2.6183 to a low $2.6016.

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

For the day ahead

EOS would need to move through to $2.6270 levels to bring the first major resistance level at $2.6630 into play.

Support from the broader market would be needed, however, for EOS to break back through to $2.65 levels.

Barring an extended crypto rally, resistance at $2.65 would likely leave EOS short of the first major resistance level.

Failure to move through to $2.6270 levels could see EOS fall deeper into the red.

A fall through the morning low $2.6016 would bring the first major support level at $2.5792 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.5432.

Looking at the Technical Indicators

Major Support Level: $2.5792

Major Resistance Level: $2.6630

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.10% on Friday. Following on from a 5.77% rally on Thursday, Ethereum ended the day at $220.62.

A bullish start to the day saw Ethereum rally to an early morning intraday high $224.80 before hitting reverse.

Falling short of the first major resistance level at $225.91, Ethereum slid to a late morning intraday low $217.52.

Steering well clear of the first major support level at $209.73, Ethereum bounced back to $222 levels before easing back.

At the time of writing, Ethereum was down by 0.41% to $219.72. A bearish start to the day saw Ethereum fall from an early morning high $221.20 to a low $218.33.

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

For the day ahead

Ethereum would need to move back through to $221 levels to bring the first major resistance level at $224.44 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $224 levels.

Barring a broad-based crypto rebound, resistance at $224 would likely leave Ethereum short of the first major resistance level.

Failure to move back through to $221 levels could see Ethereum slide deeper into the red.

A fall through the morning low $218.33 would bring the first major support level at $217.16 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of the second major support level at $213.70.

Looking at the Technical Indicators

Major Support Level: $217.16

Major Resistance Level: $224.44

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 1.57% on Friday. Reversing a 1.37% gain from Thursday, Ripple’s XRP ended the day at $0.19766.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.20340 before hitting reverse.

Coming up against the first major resistance level at $0.2031, Ripple’s XRP slid to a late morning intraday low $0.19640.

Finding support at the first major support level at 0.1968, Ripple’s XRP briefly recovered to $0.199 levels before sliding back to $0.196 levels.

A recovery to $0.197 levels in the final hour, however, limited the downside on the day.

At the time of writing, Ripple’s XRP was down by 0.49% to $0.19670. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19760 to a low $0.19613.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through to $0.1990 levels to support a run at the first major resistance level at $0.2019.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.20 levels.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.

Failure to move through to $0.1990 levels could see Ripple’s XRP fall deeper into the red.

A fall through back through the morning low $0.19613 would bring the first major support level at $0.1949 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1922.

Looking at the Technical Indicators

Major Support Level: $0.1949

Major Resistance Level: $0.2019

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