EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 27/04/20
EOS
EOS rose by 1.76 on Sunday. Reversing a 0.17% decline from Saturday, EOS ended the week up by 5.44% to $2.7431.
A bullish start to the day saw EOS rally to an early afternoon intraday high $2.7790 before hitting reverse.
Falling short of the first major resistance level at $2.7850, EOS tumbled to a late afternoon intraday low $2.6741.
Steering clear of the first major support level at $2.6315, EOS recovered to $2.74 levels with a final hour rally.
At the time of writing, EOS was up by 0.96% to $2.7696. A mixed start to the day saw EOS fall to an early morning low $2.7309 before striking a high $2.7696.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid sub-$2.73 levels to support a run at the first major resistance level at $2.7900
Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $2.7790.
Barring another extended crypto rally, the first major resistance level would likely limit any upside.
Failure to avoid sub-$2.73 levels could see EOS struggle later in the day.
A fall through to sub-$2.73 levels would bring the first major support level at $2.6851 into play before any recovery.
Barring a crypto sell-off, however, EOS should steer well clear of the second major support level at $2.6272.
Looking at the Technical Indicators
Major Support Level: $2.6851
Major Resistance Level: $2.7900
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 1.75% on Sunday. Following on from a 3.46% rally on Saturday, Ethereum ended the week up by 9.73% to $197.83.
A mixed start to the day saw Ethereum fall to a mid-morning intraday low $192.54 before making a move.
Steering clear of the first major support level at $187.53, Ethereum rallied to an early afternoon intraday high $200.
Ethereum came up against the first major resistance level at $199.76 before sliding back to sub-$194 levels.
Finding support late on, Ethereum bounced back to $197 levels to deliver the upside on the day.
At the time of writing, Ethereum was up by 0.48% to $198.77. A mixed start to the day saw Ethereum fall to an early morning low $196.85 before striking a high $199.14.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid sub-$196.80 levels to support a run at the first major resistance level at $201.04.
Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $200.00.
Barring an extended crypto rally the first major resistance level and Sunday’s high would likely limit any upside.
Failure to avoid sub-$196.80 levels could see Ethereum hit reverse.
A fall back through to sub-$196 levels would bring the first major support level at $193.58 into play before any recovery.
Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $189.33.
Looking at the Technical Indicators
Major Support Level: $193.58
Major Resistance Level: $201.04
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 1.15% on Sunday. Following on from a 0.38% gain on Saturday, Ripple’s XRP ended the week up by 3.74% to $0.19629.
A mixed start to the day saw Ripple’s XRP fall to a mid-morning low $0.19338 before making a move.
Steering clear of the first major support level at $0.1912, Ripple’s XRP rallied to an early afternoon intraday high $0.19777.
Ripple’s XRP came up against the first major resistance level at $0.1975 before sliding to a mid-afternoon intraday low $0.19105.
The pullback saw Ripple’s XRP find support at the first major support level at $0.1912 before moving back through to $0.1960 levels.
At the time of writing, Ripple’s XRP was up by 1.45% to $0.19914. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19631 to a high $0.19914.
Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.1990.
For the day ahead
Ripple’s XRP will need to avoid sub-$0.1990 levels to support a run at the second major resistance level at $0.2018.
Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.20 levels.
Barring an extended crypto rally, the first major resistance level at $0.1975 and resistance at $0.20 would likely limit any upside.
Failure to avoid sub-$0.1990 levels could see Ripple’s XRP hit reverse.
A fall through the morning low to sub-$0.1950 levels would bring the first major support level at $0.1923 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: $0.1923
Major Resistance Level: $0.1990
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
More From FXEMPIRE:
Natural Gas Price Fundamental Weekly Forecast – Traders Facing Demand Destruction, Increasing Supply
Markets Brush Aside China Data as Plans to Ease Lockdown Measures Sink the Dollar
US Stocks Finish Week Lower as Oil-Driven Volatility Returns; More Economic Relief on the Way
Oil Price Fundamental Weekly Forecast – Market Needs US to Step Up with Additional Output Cuts
EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 27/04/20