Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 06/04/20
EOS
EOS fell by 0.34% on Sunday. Partially reversing a 1.25% gain from Saturday, EOS ended the week up by 11.02% to $2.3552.
A choppy start to the day saw EOS rise to an early morning high $2.3799 before hitting reverse.
Falling short of the first major resistance level at $2.4186, EOS fell to a late afternoon intraday low $2.3200.
Steering well clear of the first major support level at $2.3007, EOS rallied to a late intraday high $2.3931 before sliding back.
EOS fell short of the first major resistance level at $2.4186 before falling into the red.
At the time of writing, EOS was up by 0.64% to $2.3704. A bullish start to the day saw EOS rise from an early morning low $2.3540 to a high $2.3863.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $2.38 levels to support a run at the first major resistance level at $2.3922.
Support from the broader market would be needed, however, for EOS to break back through to $2.39 levels.
Barring an extended crypto rally, the first major resistance level, and Sunday’s high would likely cap any upside.
Failure to move back through to $2.38 levels could see EOS hit reverse.
A fall back through to sub-$2.3560 levels would bring the first major support level at $2.3191 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer clear of the second major support level at $2.2830.
Looking at the Technical Indicators
Major Support Level: $2.3191
Major Resistance Level: $2.3922
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 1.18% on Sunday. Partially reversing a 2.12% gain from Saturday, Ethereum ended the week up by 14.76% to $142.79.
A bullish start to the day saw Ethereum rise to an early morning intraday high $145.98 before hitting reverse.
Falling short of the first major resistance level at $147.77, Ethereum slid to a late afternoon intraday low $140.81.
Steering clear of the first major support level at $140.12, Ethereum recovered to $143 levels before easing back.
At the time of writing, Ethereum was up by 1.01% to $144.23. A bullish start to the day saw Ethereum rise from an early morning low $142.79 to a high $145.23.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through to $145 levels to support a run at the first major resistance level at $145.58.
Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $145.23.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $145.98 would likely pin Ethereum back.
Failure to move back through to $145 levels could see Ethereum struggle later in the day.
A fall through to sub-$143.20 levels would bring the first major support level at $140.41 into play.
Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$140 support levels.
Looking at the Technical Indicators
Major Support Level: $140.41
Major Resistance Level: $145.58
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 1.23% on Sunday. Reversing a 1.17% gain from Saturday, Ripple’s XRP ended the week up by 10.15% to $0.17955.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.18268 before hitting reverse.
Falling short of the first major resistance level at $0.1845, Ripple’s XRP slid to a late afternoon intraday low $0.17690.
Ripple’s XRP fell through the first major support level at $0.1786 before recovering to $0.1799 levels.
Resistance at $0.18 pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was up by 0.65% to $0.18071. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.17954 to a high $0.18200.
Steering clear of the major support levels, Ripple’s XRP came within range of the first major resistance level at $0.1825.
For the day ahead
Ripple’s XRP will need to avoid sub-$0.18 levels to support another run at the first major resistance level at $0.1825.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.18200.
Barring an extended crypto rally, the first major resistance level at $0.1825 would likely limit any upside on the day.
In the event of a breakout, the second major resistance level at $0.1855 would likely leave Ripple’s XRP short of $0.19 levels.
Failure to avoid sub-$0.18 levels could see Ripple’s XRP struggle later in the day.
A fall through the morning low $0.17954 would bring the first major support level at $0.1767 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1739.
Looking at the Technical Indicators
Major Support Level: $
Major Resistance Level: $
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
