Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/05/20
EOS
EOS fell by 2.84% on Sunday. Following on from a 1.04% fall on Saturday, EOS ended the week down by 4.92% to $2.4877.
A bullish start to the day saw EOS rise to an early morning intraday high $2.6067 before hitting reverse.
Falling short of the first major resistance level at $2.6094, EOS slid to a late afternoon low $2.5031.
The reversal saw EOS fall through the first major support level at $2.5347. Finding support at the second major support level at $2.5028, EOS briefly recovered to $2.56 levels before a late sell-off.
The sell-off saw EOS slide back through the first major support level and second major support level to an intraday low $2.4877.
At the time of writing, EOS was up by 0.57% to $2.5020. A mixed start to the day saw EOS fall to an early morning low $2.4500 before striking a high $2.5151.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $2.5280 levels to bring the first major resistance level at $2.5678 into play.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.5151.
Barring a broad-based crypto rally, the major first resistance level would likely limit any upside on the day.
Failure to move back through to $2.5280 levels could see EOS slide back into the red.
A fall through the morning low $2.4500 would bring the first major support level at $2.4477 into play.
Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.4076.
Looking at the Technical Indicators
Major Support Level: $2.4477
Major Resistance Level: $2.5678
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 3.38% on Sunday. Following on from a 0.31% decline on Saturday, Ethereum ended the week down by 3.58% to $199.63.
A bullish start to the day saw Ethereum rise to an early morning intraday high $210.67 before hitting reverse.
Ethereum broke through the first major resistance level at $210.45, before falling to a late afternoon low $201.69.
The reversal saw Ethereum fall through the first major support level at $203.71 before briefly recovering to $208 levels.
A final hour sell-off did the damage, however, with Ethereum sliding to an intraday low $199.30.
Ethereum fell through the first major support level and second major support level at $200.77 to wrap up the day at sub-$200 levels.
At the time of writing, Ethereum was up by 1.46% to $202.55. A mixed start to the day saw Ethereum fall to an early morning low $198.01 before rising to a high $203.17.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $203.20 levels to bring the first major resistance level at $207.10 into play.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $203.17.
Barring an extended crypto rally, the first major resistance level would likely limit any upside.
Failure to move through to $203.20 levels could see Ethereum slide into the red.
A fall through the morning low $198.01 would bring the first major support level at $195.73 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $191.83.
Looking at the Technical Indicators
Major Support Level: $195.73
Major Resistance Level: $207.10
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP fell by 3.27% on Sunday. Following on from a 0.90% decline on Saturday, Ripple’s XRP ended the week down by 4.45% to $0.19228.
Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.20161 before taking a hit.
Ripple’s XRP broke through the first major resistance level at $0.2012, before falling to a late afternoon low $0.19467.
The reversal saw Ripple’s XRP fall through the first major support level at $0.1970 and the second major support level at $0.1954.
Finding support late on, Ripple’s XRP briefly recovered to $0.1980 levels before a final hour sell-off to an intraday low $0.19228.
Ripple’s XRP fell back through the first major support level and second major support level to end the day at sub-$0.1930 levels.
At the time of writing, Ripple’s XRP was up by 0.55% to $0.19334. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18928 before striking a high $0.19449.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through to $0.1960 levels to support a run at the first major resistance level at $0.1985.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.19449.
Barring a broad-based crypto rebound, the first major resistance level would likely leave Ripple’s XRP short of $0.20 levels.
Failure to move through to $0.1960 levels could see Ripple’s XRP hit reverse.
A fall through to sub-$0.1930 levels would bring the first major support level at $0.1892 into play.
Barring another crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1861.
Looking at the Technical Indicators
Major Support Level: $0.1892
Major Resistance Level: $0.1985
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob
This article was originally posted on FX Empire
More From FXEMPIRE:
The Weekly Wrap – Optimism Delivered Riskier Assets a Boost as Lockdown Measures Eased
EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 24/05/20
AUD/USD and NZD/USD Fundamental Weekly Forecast – Risk Sentiment Controlling the Price Action
EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/05/20
USD/JPY Fundamental Weekly Forecast – Traders Will Be Eyeing Simmering US-China Relations
