EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 03/02/20
EOS
EOS rose by 1.65% on Sunday. Following on from a 0.11% gain on Saturday, EOS ended the week up 15.8% to $4.2263.
A mixed start to the day saw EOS fall to an early morning intraday low $4.0500 before finding support.
EOS fell through the first major support level at $4.0730 before bouncing back to a mid-day intraday high $4.3458.
EOS broke through the first major resistance level at $4.2640 before sliding back to $4.22 levels.
Through the latter part of the day, EOS broke back through the first major resistance level before a late pullback.
At the time of writing, EOS was up by 1.23% to $4.2784. A mixed start to the day saw EOS fall to an early morning low $4.2000 before striking a high $4.3000.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $4.30 levels to support a run at the first major resistance level at $4.3647.
Support from the broader market would be needed, however, for EOS to break back through Sunday’s high $4.3458.
Barring an extended crypto rally, the first major resistance level, and Sunday’s high would likely limit in any upside.
Failure to move back through to $4.30 levels could see EOS fall back into the red.
A pullback through to sub-$4.2075 levels would bring the first major support level at $4.0689 into play.
Barring a broad-based crypto sell-off, however, EOS should continue to steer well clear of sub-$4.00 levels.
Looking at the Technical Indicators
Major Support Level: $4.0689
Major Resistance Level: $4.3647
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 2.62% on Sunday. Following on from a 2.10% gain on Saturday, Ethereum ended the week up 12.36% to $188.29.
Tracking the broader market, Ethereum fell to an early morning intraday low $178.98 before finding support.
Ethereum fell through the first major support level at $180.27 before rallying to a mid-afternoon intraday high $193.52.
Ethereum broke through the day’s major resistance levels before falling back through the third major resistance level at $192.63.
In spite of the late pullback, Ethereum held above the second major resistance level at $187.43.
At the time of writing, Ethereum was up by 1.65% to $191.39. A mixed start to the day saw Ethereum fall to an early morning low $187.00 before striking a high $191.91.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $192 levels to support a run at the first major resistance level at $194.88.
Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $193.52.
Barring a broad-based crypto rebound, Ethereum would likely come up short of $194 levels and the first major resistance level at $194.88.
In the event of an extended crypto rally, Ethereum could eye $200 levels before any pullback.
Failure to move through to $192 levels could see Ethereum hit reverse.
A fall through the morning low $187 would bring the first major support level at $180.34 into play.
Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $172.39.
Looking at the Technical Indicators
Major Support Level: $180.34
Major Resistance Level: $194.88
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rallied by 3.93% on Sunday. Following on from a 0.71% gain on Saturday, Ripple’s XRP ended the week up 8.54% to $0.25128.
A choppy start to the day saw Ripple’s XRP fall to an early morning intraday low $0.2360 before striking a mid-day intraday high $0.26248.
Ripple’s XRP fell through the first major support level at $0.2382 before breaking through the day’s major resistance levels.
A late pullback saw Ripple’s XRP fall back through the third major resistance level at $0.2538. In spite of the pullback, Ripple’s XRP held onto $0.25 levels for the first time since 20th November.
At the time of writing, Ripple’s XRP was up by 1.80% to $0.25580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.25010 before striking a high $0.25613.
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 to $0.26 levels to support a run at the first major resistance level at $0.2638.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.26248.
Barring a broad-based crypto rebound, the first major resistance level at $0.2638 and Sunday’s high would likely limit any upside on the day.
Failure to move back through to $0.26 levels could see Ripple’s XRP fall back into the red.
A fall back through the morning low to sub-$0.25 levels would bring the first major support level at $0.2374 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer of sub-$0.23 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.2374
Major Resistance Level: $0.2638
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:
Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 03/02/20
Price of Gold Fundamental Weekly Forecast – Could Spike Higher on Steep Drop in Global Risk Demand
The Week Ahead – Economic Data, the RBA and the Coronavirus in Focus
EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 02/02/20
European Equities: Economic Data in Focus as the Chinese Markets Reopen
