EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 18/05/20
EOS
EOS fell by 0.55% on Sunday. Following on from a 1.90% gain on Saturday, EOS ended the week up by 6.99% to $2.6179.
A mixed start to the day saw EOS rise from an early morning low $2.6228 to a mid-morning high $2.6602.
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Steering clear of the major support and resistance levels, EOS fell back to $2.62 levels before striking a mid-afternoon intraday high $2.6764.
Falling short of the first major resistance level at $2.6890, EOS slid back to a late intraday low $2.6201.
Steering clear of the first major support level at $2.5732, EOS recovered to $2.63 levels before falling back into the red.
At the time of writing, EOS was up by 0.76% to $2.6378. A bullish start to the day saw EOS rise from an early morning low $2.6102 to a high $2.6379.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $2.65 levels to bring the first major resistance level at $2.6657 into play.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6379.
Barring an extended crypto rally, however, the major first resistance level would likely cap any upside.
Failure to move back through to $2.65 levels would see EOS hit reverse.
A fall through to sub-$2.6290 levels would bring the first major support level at $2.5807 into play.
Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.5436.
Looking at the Technical Indicators
Major Support Level: $2.5807
Major Resistance Level: $2.6657
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 3.27% on Sunday. Following on from a 3.02% gain on Saturday, Ethereum ended the week up by 10.34% to $207.05.
A relatively range-bound morning saw Ethereum rise from an early morning intraday low $199.1 to a mid-afternoon intraday high $210.00.
Ethereum broke through the first major resistance level at $204.85 and the second major resistance level at $209.16.
Late in the day, Ethereum fell back to $206 levels before revisiting $209 levels.
Coming up against the second major resistance level at $209.16, Ethereum fell back to $206 levels before steadying.
At the time of writing, Ethereum was up by 2.23% to $211.67. A bullish start to the day saw Ethereum rise from an early morning low $206.99 to a high $211.82.
Ethereum broke through the first major resistance level at $211.67 early on.
For the day ahead
Ethereum would need to avoid sub-$210 levels to bring the second major resistance level at $216.28 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $211.82.
Barring an extended crypto rally, the first major resistance level would likely limit any upside.
Failure to avoid sub-$210 levels could see Ethereum hit reverse.
A fall back through the morning low to sub-$205.40 levels would bring the first major support level at $200.77 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$200 levels.
Looking at the Technical Indicators
Major Support Level: $200.77
Major Resistance Level: $211.67
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 0.79% on Sunday. Following on from a 0.81% gain on Saturday, Ripple’s XRP ended the week up by 2.07% to $0.20108.
It was a bullish end to the week. Ripple’s XRP rallied from an early morning intraday low $0.19882 to a mid-afternoon intraday high $0.20479.
Ripple’s XRP broke through the first major resistance level at $0.2024 to come within range of the second major resistance level at $0.20530.
A late afternoon pullback saw Ripple’s XRP fall to a low $0.20086 before finding support.
Ripple’s XRP fell back through the first major resistance level before finding support.
At the time of writing, Ripple’s XRP was up by 1.23% to $0.20356. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.20107 to a high $0.20371.
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-$0.2020 levels to support a run at the first major resistance level at $0.2043.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20371.
Barring an extended crypto rally, the first major resistance level would likely limit any upside.
Failure to avoid sub-$0.2020 levels could see Ripple’s XRP give up the early gains.
A fall back through the morning low $0.20107 would bring the first major support level at $0.1983 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.19 support levels.
The second major support level at $0.1956 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $0.1983
Major Resistance Level: $0.2043
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
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Thanks, Bob