EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 17/04/20

EOS

EOS fell by 1.50% on Friday. Partially reversing a 10.59% rally from Thursday, EOS ended the day at $2.6231.

A bearish start to the day saw EOS fall from an early morning high $2.6750 to a mid-morning intraday low $2.5855.

Steering clear of the major support and resistance levels, EOS bounced back to a late intraday high $2.6784.

Falling short of the first major resistance level at $2.8200, EOS fell back to sub-$2.66 levels and into the red.

At the time of writing, EOS was up by 1.2% to $2.6545. A bullish start to the day saw EOS rally from an early morning low $2.6212 to a high $2.6762.

EOS broke through the first major resistance level at $2.6725 before easing back.

For the day ahead

EOS would need to move back through to $2.60 levels to support another break through the first major resistance level at $2.6725.

Support from the broader market would be needed, however, for EOS to break through to $2.70 levels.

Barring an extended crypto rally, resistance at $2.70 levels would likely leave EOS short of the second major resistance level at $2.7219.

Failure to move back through to $2.60 levels could see EOS hit reverse.

A fall back through to sub-$2.63 levels would bring the first major support level at $2.5796 into play before any recovery.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.50 levels on the day.

The second major support level at $2.5361 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.5796

Major Resistance Level: $2.6725

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slipped by 0.98% on Friday. Following a 12.95% rally on Thursday, Ethereum ended the day at $170.89.

Tracking the broader market, Ethereum slid from an early morning high $173.61 to an early morning intraday low $168.50.

Steering clear of the first major support level at $155.35, Ethereum rallied to a late intraday high $175.10.

Ethereum fell short of the first major…

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