EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 14/02/20
EOS
EOS rose by 0.42% on Thursday. Following on from a 1.47% gain on Wednesday, EOS ended the day at $5.3555.
A choppy start to the days aw EOS rise to an early morning intraday high $5.4861 before hitting reverse.
EOS broke through the first major resistance level at $5.4429 before sliding to a late morning intraday low $5.1700.
EOS fell through the first major support level at $5.2395 before striking an afternoon high $5.4199.
Falling short of the first major resistance level, EOS fell back through the first major support level before a late recovery.
At the time of writing, EOS was up by 1.10% to $5.4142. A mixed start to the day saw EOS fall to an early morning low $5.2674 before striking a high $5.4200.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through Thursday’s high $5.4861 to support a run at the first major resistance level at $5.5044.
Support from the broader market would be needed, however, for EOS to break through to $5.5 levels.
Barring a broad-based crypto rebound, the first major resistance level and Thursday’s high $5.4861 would likely the upside on the day.
Failure to move back through Thursday’s high could see EOS hit reverse.
A fall back through to sub-$5.3370 levels would bring the first major support level at $5.1883 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$5.00 levels. The second major support level at $5.0211 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $5.1883
Major Resistance Level: $5.5044
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 0.67% on Thursday. Following on from an 11.98% surge on Wednesday, Ethereum ended the day at $268.42.
A mixed start to the day saw Ethereum rise to an early morning high $275 before sliding to a mid-morning intraday low $253.75.
Whilst steering clear of the first major support level at $244.24, Ethereum fell through the 23.6% FIB of $257 before making a move.
Finding support from the broader market, Ethereum rallied to an early afternoon intraday high $278.01.
While breaking back through the 23.6% FIB, Ethereum fell short of the first major resistance level at $282.44 before easing back to sub-$270 levels.
At the time of writing, Ethereum was up by 0.69% to $270.26. A mixed start to the day saw Ethereum fall to an early morning low $264.01 before striking a high $270.72.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $275 levels to bring the first major resistance level at $279.70 into play.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $278.01.
Barring an extended crypto rally, the first major resistance level would likely cap any upside on the day.
Failure to move through to $275 levels could see Ethereum give up the early gains.
A fall back through to sub-$267 levels would bring the first major support level at $255.44 into play.
Barring a crypto meltdown, however, Ethereum should steer clear of sub-$250 levels.
Looking at the Technical Indicators
Major Support Level: $255.44
Major Resistance Level: $279.70
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 7.4% on Thursday. Following on from an 8.26% breakout on Wednesday, Ripple’s XRP ended the day at $0.32708.
A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.33490 before falling to a mid-morning intraday low $0.29981.
Ripple’s XRP broke through the first major resistance level at $0.3150 and the second major resistance level at $0.3258.
In spite of the mid-morning pullback, Ripple’s XRP steered clear of the first major support level at $0.2872.
Finding support in the 2nd half of the day, Ripple’s XRP rallied to an early afternoon intraday high $0.33923 before easing back.
Ripple’s XRP broke back through the first and second major resistance levels before falling back to sub-$0.32 levels.
Finding late support, Ripple’s XRP broke back through the second major resistance level to wrap up the day at $0.3270 levels.
At the time of writing, Ripple’s XRP was down by 0.03% to $0.32699. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.33231 before falling to a low $0.32245.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to break back through to $0.33 levels to support a run at the first major resistance level at $0.3443.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.33923.
Barring an extended crypto rally, Wednesday’s high $0.30884 and resistance at $0.34 would likely limit any upside.
Failure to move back through to $0.33 levels could see Ripple’s XRP fall deeper into the red.
A fall back through the morning low $0.32245 to sub-$0.322 levels would bring the first major support level at $0.3049 into play.
Barring another crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.29 levels and the second major support level at $0.2826.
Looking at the Technical Indicators
Major Support Level: $0.3049
Major Resistance Level: $0.3443
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
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