EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 14/04/20

EOS

EOS fell by 2.36% on Monday. Following on from a 0.28% decline on Sunday, EOS ended the day at $2.4431.

It was a particularly bearish start to the day. EOS fell from an early morning intraday high $2.5021 to an early morning intraday low $2.3314 before finding support.

The sell-off saw EOS fall through the first major support level at $2.4420 and second major support level at $2.3811.

Finding support through the morning, EOS recovered to $2.45 levels before a 2nd fallback through the first and second major support levels.

A late move back through major support levels to close out at $2.44 levels limited the downside on the day.

At the time of writing, EOS was up by 0.40% to $2.4528. A mixed start to the day saw EOS rise to an early morning high $2.4657 before falling to a low $2.4455.

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

For the day ahead

EOS would need to move through to $2.50 levels to support a run at the first major resistance level at $2.5197.

Support from the broader market would be needed, however, for EOS to breakout from Monday’s high $2.5021.

Barring a broad-based crypto rebound, resistance at $2.50 would likely leave EOS short of the first major resistance level.

Failure to move through to $2.50 levels could see EOS hit reverse.

A fall back through to sub-$2.4250 levels would bring the first major support level at $2.3490 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$2.30 levels.

Looking at the Technical Indicators

Major Support Level: $2.3490

Major Resistance Level: $2.5197

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.30% on Monday. Reversing a 0.12% gain from Sunday, Ethereum ended the day at $156.76.

Tracking the broader market, Ethereum tumbled to an early morning intraday low $149.70 before finding support.

Ethereum fell through the first major support level at $153.97 before making a move.

Finding…

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