EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 24/04/20

EOS

EOS rose by 2.04% on Thursday. Following on from a 4.09% rally on Wednesday, EOS ended the day at $2.6806.

A bearish start to the day saw EOS fall to a mid-morning intraday low $2.5860 before making a move.

Steering clear of the first major support level at $2.5375, EOS rallied to an early afternoon intraday high $2.7764.

EOS broke through the first major resistance level at $2.6884 and second major resistance level at $2.7500.

Late in the day, EOS fell back through the resistance levels to wrap up the day at $2.68 levels.

At the time of writing, EOS was up by 0.92% to $2.7053. A bullish start to the day saw EOS rise from an early morning low $2.6820 to a high $2.7115.

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

For the day ahead

EOS would need to avoid sub-$2.70 levels to support a run at the first major resistance level at $2.7760.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.7115.

Barring another extended crypto rally, the first major resistance level would likely limit any upside.

Failure to avoid sub-$2.70 levels could see EOS struggle later in the day.

A fall through to sub-$2.68 levels would bring the first major support level at $2.5856 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer well clear of the second major support level at $2.4906.

Looking at the Technical Indicators

Major Support Level: $2.5856

Major Resistance Level: $2.7760

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.40% on Thursday. Following on from a 7.05% rally on Wednesday, Ethereum ended the day at $185.66.

Tracking the broader market, Ethereum fell to a mid-morning intraday low $178.44 before finding support.

Steering clear of the first major support level at $173.95, Ethereum rallied to an early afternoon intraday high $194.86.

Ethereum broke through the first major resistance level at $188.34 and the…

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