EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 19/01/20
EOS
EOS slid by 2.32% on Saturday. Reversing a 1.52% gain from Friday, EOS ended the day at $3.7979.
A choppy start to the day saw EOS rise to an early morning intraday high $3.9976 before hitting reverse.
Falling short of the first major resistance level at $4.0611, EOS fell to a mid-morning intraday low $3.7000.
The reversal saw EOS fall through the first major support level at $3.7322 before bouncing back to an afternoon high $3.9667.
A 2nd pullback, however, saw EOS slide back to sub-$3.80 levels to close out the day in the red.
At the time of writing, EOS was down by 0.06% to $3.7955. A mixed start to the day saw EOS fall to an early morning low $3.7626 before striking a high $3.8247.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $3.83 levels to support a run at the first major resistance level at $3.9637.
Support from the broader market would be needed for EOS to break back through the morning high $3.8247
Barring a broad-based crypto rally, however, Saturday’s high $3.9976 and first major resistance level would likely cap any upside.
Failure to move back through to $3.83 levels could see EOS fall deeper into the red.
A fall back through the morning low $3.7626 would bring the first major support level at $3.6661 into play before any recovery.
Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.5342.
Looking at the Technical Indicators
Major Support Level: $3.6661
Major Resistance Level: $3.9637
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 2.67% on Saturday. Following on from a 3.41% rally on Friday, Ethereum ended the day at $174.06.
A bearish start to the day saw Ethereum fall to a mid-morning intraday low $164.92 before finding support.
Steering clear of the first major support level at $162.89, Ethereum rallied to an early afternoon intraday high $179.32.
Ethereum broke through the first major resistance level at $175.40 before easing back.
At the time of writing, Ethereum was up by 1.25% to $176.23. A mixed start to the day saw Ethereum fall to an early morning low $173.18 before striking a high $176.37.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through Saturday’s high $179.32 to support a run at the first major resistance level at $180.61.
Support from the broader market would be needed, however, for Ethereum to break out from $178 levels.
Barring a broad-based crypto rally the first major resistance level and Saturday’s high $179.32 would likely cap any upside.
Failure to move back through to $179 levels could see Ethereum slide into the red.
A fall back through the morning low to sub-$173 levels would bring the first major support level at $166.21 into play.
Barring an extended crypto sell-off, however, Ethereum should steer of sub-$160 levels for a 3rd consecutive day.
Looking at the Technical Indicators
Major Support Level: $166.21
Major Resistance Level: $180.61
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 2.02% on Saturday. Following on from a 3.98% rally on Friday, Ripple’s XRP ended the day at $0.24280.
A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.24200 before sliding to a mid-morning intraday low $0.23107.
Steering clear of the first major support level at $0.2283, Ripple’s XRP rallied to an early afternoon intraday high $0.25457.
Ripple’s XRP broke through the first major resistance level at $0.2457 and the second major resistance level at $0.2534.
A mixed afternoon pullback saw Ripple’s XRP fall back through the major resistance levels to sub-$0.24 levels before finding late support.
While moving back through to $0.24 levels, the first major resistance level at $0.2457 capped the upside on the day.
At the time of writing, Ripple’s XRP was up by 1.66% to $0.24684. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.24074 before striking a high $0.24770.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move back through the morning high $0.2477 to support a run at the first major resistance level at $0.2546.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.25 levels.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $0.25457 would likely cap any upside.
Failure to move back through the morning high $0.24770 could see Ripple’s XRP slide into the red.
A fall back through to sub-$0.2430 levels would bring the first major support level at $0.2311 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.23 levels and well clear of the second major support level at $0.2193.
Looking at the Technical Indicators
Major Support Level: $0.2311
Major Resistance Level: $0.2546
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
This article was originally posted on FX Empire
