EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/03/20

EOS

EOS rose by 2.24% on Tuesday. Following on from a 7.50% rally on Monday, EOS ended the day at $2.3497.

A choppy start to the day saw EOS rise from an early morning intraday low $2.2821 to a mid-morning intraday high $2.3820 before hitting reverse.

Steering well clear of the major support and resistance levels, EOS fell back to sub-$2.30 levels before making a move.

Finding support late on, EOS bounced back to $2.36 levels before easing back.

At the time of writing, EOS was down by 1.20% to $2.3214. A bearish start to the day saw EOS fall from an early morning high $2.3484 to a low $2.3128.

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

For the day ahead

EOS would need to move through to $2.34 levels to bring the first major resistance level at $2.3938 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.3484.

Barring another extended rally, the first major resistance level at $2.3938 would likely limit any upside.

Failure to move back through to $2.34 levels could see EOS slide deeper into the red.

A fall back through the morning low $2.3128 would bring the first major support level at $2.2939 back into play.

Barring another crypto meltdown, however, EOS should steer clear of the second major support level at $2.2380.

Looking at the Technical Indicators

Major Support Level: $2.2380

Major Resistance Level: $2.3938

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.46% on Tuesday. Following on from a 12.01% rally on Monday, Ethereum ended the day at $139.00.

A mixed start to the day saw Ethereum fall to an early morning intraday low $133.04 before making a move.

Steering clear of the first major support level at $124.80, Ethereum rallied to a late morning intraday high $144.16.

Ethereum broke through the first major resistance level at $143.60 before falling back to sub-$135 levels.

Finding support late on, however, Ethereum…

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