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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 02/02/20

Bob Mason

EOS

EOS rose by 0.11% on Saturday. Partially reversing a 3.77% slide from Friday, EOS ended the day at $4.1640.

A bullish start to the day saw EOS rise to an early morning intraday high $4.2731 before hitting reverse.

Falling short of the first major resistance level at $4.3426, EOS slid to a late morning intraday low $4.0821.

Steering clear of the first major support level at $4.0002, EOS recovered to $4.20 levels before easing back.

At the time of writing, EOS was down by 1.16% to $4.1158. A bearish start to the day saw EOS fall from an early morning high $4.1578 to a low $4.0798.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to move through to $4.1750 levels to support a run at the first major resistance level at $4.2640.

Support from the broader market would be needed, however, for EOS to break back through the morning high $4.1578 to $4.20 levels.

Barring an extended crypto rally, the first major resistance level and Saturday’s high $4.2731 would likely limit in any upside.

Failure to move through $4.1750 levels could see EOS slide deeper into the red.

A fall back through the morning low $4.0798 would bring the first major support level at $4.0730 into play.

Barring a broad-based crypto sell-off, however, EOS should steer well clear of sub-$4.00 levels.

Looking at the Technical Indicators

Major Support Level: $4.0730

Major Resistance Level: $4.2640

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.10% on Saturday. Partially reversing a 2.59% fall from Friday, Ethereum ended the day at $183.50.

A bullish start to the day saw Ethereum rise from an intraday low $179.0 to an early morning high $184.0.

Falling short of the first major resistance level at $185.28, Ethereum fell to back to sub-$180 levels before making a move.

Finding support through the 2nd half of the day, Ethereum rallied to a late intraday high $184.20 before easing back.

Ethereum left the first major resistance level at $185.28 untested on the day.

At the time of writing, Ethereum was down by 0.93% to $181.80. A bearish start to the day saw Ethereum fall from an early morning high $183.56 to a low $180.83.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move through to $182.30 levels to support a run at the first major resistance level at $185.47.

Support from the broader market would be needed, however, for Ethereum to break through to $185 levels.

Barring a broad-based crypto rebound, Ethereum would likely come up short of $185 levels and the first major resistance level at $185.28.

Failure to move through to $182.30 levels could see Ethereum fall deeper into the red.

A fall through the morning low $180.83 would bring the first major support level at $180.27 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $177.03.

Looking at the Technical Indicators

Major Support Level: $180.27

Major Resistance Level: $185.47

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 0.71% on Saturday. Partially reversing a 1.45% fall from Friday, Ripple’s XRP ended the day at $0.24184.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.24363 before hitting reverse.

Falling short of the first major resistance level at $0.2451, Ripple’s XRP fell to a late morning intraday low $0.23720.

Steering clear of the first major support level at $0.2344, Ripple’s XRP recovered to $0.2424 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.93% to $0.23960. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24178 to a low $0.23871.

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 $0.24 levels to support a run at the first major resistance level at $0.2446.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.24363.

Barring a broad-based crypto rebound, the first major resistance level at $0.2446 and Saturday’s high would likely limit any upside on the day.

Failure to move back through to $0.24 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the morning low $0.23871 would bring the first major support level at $0.23820 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer of sub-$0.23 levels on the day. The second major support level at $0.2345 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.2382

Major Resistance Level: $0.2446

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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