EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 23/02/20

EOS

EOS rose by 1.80% on Saturday. Following on from a 1.11% gain on Friday, EOS ended the day at $4.1217.

A mixed start to the day saw EOS fall to a mid-morning intraday low $3.9765 before making a move.

Steering clear of the first major support level at $3.9324, EOS rallied to a mid-day intraday high $4.1679.

Falling short of the first major resistance level at $4.1750, fell back to an afternoon low $4.0392 before finding support.

Another late recovery delivered the upside on the day.

At the time of writing, EOS was up by 4.18% to $4.2941. A bullish start to the day saw EOS rise from an early morning low $4.0925 to a high $4.3119.

EOS broke through the first major resistance level at $4.2009 and the second major resistance level at $4.2801.

For the day ahead

EOS would need to move back through to $4.30 levels to support a run at the third major resistance level at $4.4715.

Support from the broader market would be needed, however, for EOS to break out from the early morning high $4.3119.

Barring an extended crypto rally on the day, however, EOS would likely fall short of $4.40 levels.

Failure to move back through to $4.30 levels could see EOS hit reverse

A fall back through the morning low $4.0925 to sub-$4.090 levels would bring the first major support level at $4.0095 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer well clear of sub-$3.80 levels. The Second major support level at $3.8973 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $4.0095

Major Resistance Level: $4.2009

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.40% on Saturday. Partially reversing a 3.34% rally from Friday, Ethereum ended the day at $262.08.

A bearish start to the day saw Ethereum fall from an intraday high $267.04 to a mid-morning intraday low $256.30.

While steering clear of the major support and resistance levels, Ethereum fell through the 23.6% FIB…

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