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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 21/04/20

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·5 min read
In this article:
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EOS

EOS slid by 3.49% on Monday. Partially reversing a 4.72% slide from Sunday, EOS ended the day at $2.5108.

A choppy start to the day saw EOS rise to an early morning high $2.6706 before sliding to a noon low $2.5578.

Steering clear of the first major support level at $2.5136, EOS rallied to an early afternoon intraday high $2.7099.

Falling short of the first major resistance level at $2.7182, EOS tumbled to a late intraday low $2.4403.

EOS fell through the first major support level at $2.5137 before finding late support to wrap up the day at $5.10 levels.

At the time of writing, EOS was up by 0.51% to $2.5235. It was a mixed start to the day. EOS rose from an early morning low $2.5020 to a high $2.5418 before easing back.

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

For the day ahead

EOS would need to move back through to $2.55 levels to support a run at the first major resistance level at $2.6408.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.5418.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2.6706 should limit any upside.

Failure to move back through to $2.55 levels could see EOS give up the early gains.

A fall back through the morning low $2.5020 would bring the first major support level at $2.4105 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer clear of sub-$2.40 levels on the day.

Looking at the Technical Indicators

Major Support Level: $2.4105

Major Resistance Level: $2.6408

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 5.42% on Monday. Following on from a 3.97% fall on Sunday, Ethereum ended the day at $170.50.

A bullish start to the day saw Ethereum rise to an early morning intraday high $186.67 before hitting reverse.

Falling short of the first major resistance level at $188.03, Ethereum slid to a late intraday low $166.40.

Ethereum fell through the first major support level at $174.64 and the second major support level at $168.89.

Finding late support, Ethereum broke back through the second major support level to return to $170 levels.

At the time of writing, Ethereum was up by 1.06% to $172.30. A bullish start to the day saw Ethereum rise from an early morning low $169.85 to a high $173.84.

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

For the day ahead

Ethereum would need to move through to $174.50 levels to support a run at the first major resistance level at $182.65.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $173.84.

Barring an extended crypto rally, resistance at $180 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $174.50 levels could see Ethereum hit reverse.

A fall through the morning low $169.85 would bring the first major support level at $162.38 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$165 levels on the day.

Looking at the Technical Indicators

Major Support Level: $162.38

Major Resistance Level: $182.65

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 3.95% on Monday. Following on from a 3.46% fall on Sunday, Ripple’s XRP ended the day at $0.18174.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.19503 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.1946 before sliding to a late intraday low $0.17847.

The sell-off saw Ripple’s XRP slide through the first major support level at $0.1858 and the second major support level at $0.1824.

Finding late support, Ripple’s XRP moved back through to $0.18 levels. The second major support level pinned Ripple’s XRP back late on.

At the time of writing, Ripple’s XRP was 0.76% to $0.18313. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18151 to a high $0.18534.

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 $0.01850 levels to support another run at the first major resistance level at $0.1917.

Support from the broader market would be needed, however, for Ripple’s XRP to breakout from the morning high $0.18534.

Barring an extended crypto rally, the first major resistance level at $0.1917 would likely limit any upside.

Failure to move back through to $0.1850 levels could see Ripple’s XRP hit reverse.

A fall through the morning low $0.18151 would bring the first major support level at $0.1751 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1685.

Looking at the Technical Indicators

Major Support Level: $0.1751

Major Resistance Level: $0.1917

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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