EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 19/04/20

EOS

EOS rallied by 4.44% on Saturday. Reversing a 1.50% decline from Friday, EOS ended the day at $2.7377.

A mixed start to the day saw EOS fall from an early morning high $2.6762 to a late morning intraday low $2.6164.

Steering clear of the first major support level at $2.5796, EOS rallied to a late intraday high $2.7704.

EOS broke through the first major resistance level at $2.6725 and second major resistance level at $2.7219.

In spite of a final hour pullback, EOS avoided a fall back through the second major resistance level.

At the time of writing, EOS was down by 1.40% to $2.6994. A bearish start to the day saw EOS fall from an early morning high $2.7411 to a low $2.6477.

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

For the day ahead

EOS would need to move back through to $2.70 levels to support a run at the first major resistance level at $2.7999.

Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.7704.

Barring an extended crypto rally, the first major resistance level at $2.7999 and Saturday’s high should limit any upside.

Failure to move back through to $2.70 levels could see EOS fall deeper into the red.

A fall back through to the morning low $2.6477 would bring the first major support level at $2.6459 into play before any recovery.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.60 levels on the day.

Looking at the Technical Indicators

Major Support Level: $2.6459

Major Resistance Level: $2.7999

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 9.97% on Saturday. Reversing a 0.98% decline from Friday, Ethereum ended the day at $187.88.

Tracking the broader market, Ethereum rallied from an early morning intraday low $170.69 to a late intraday high $191.22.

Steering clear of the major support levels, Ethereum broke through the day’s major resistance levels.

In spite of a final hour…

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