Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 22/02/20
EOS
EOS rose by 1.11% on Friday. Following on from a 0.85% gain on Thursday, EOS ended the day at $4.0447.
A mixed start to the day saw EOS fall to an early morning intraday low $3.9503 before making a move.
Steering clear of the first major support level at $3.8311, EOS rallied to a mid-day intraday high $4.1929.
EOS broke through the first major resistance level at $4.1237 before easing back to sub-$4.00 levels.
A final hour move delivered the upside on the day.
At the time of writing, EOS was up by 0.27% to $4.0556. A mixed start to the day saw EOS rise to an early morning high $4.1063 before falling to a low $4.0100.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through to $4.0650 levels to support a run at the first major resistance level at $4.1750.
Support from the broader market would be needed, however, for EOS to break out from the early morning high $4.1063.
In the event of an extended crypto rally on the day, EOS could visit $4.3 levels before any pullback.
The second major resistance level at $4.3052 would likely limit any upside, however.
Failure to move through to $4.0650 levels could see EOS hit reverse
A fall back through the morning low $4.0100 would bring the first major support level at $3.9324 into play.
Barring an extended crypto sell-off, however, EOS should steer well clear of sub-$3.80 levels. The Second major support level at $3.8200 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $3.9324
Major Resistance Level: $4.1750
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 3.34% on Friday. Reversing a 0.43% loss from Thursday, Ethereum ended the day at $265.8.
A bearish start to the day saw Ethereum fall to an early morning intraday low $254.10 before making a move.
Ethereum fell through the 23.6% FIB of $257 before rallying to a late afternoon intraday high $268.71.
Moving back through the 23.6% FIB, Ethereum also broke through the first major resistance level at $266.02.
A late pullback saw Ethereum ease back to sub-$260 levels before a final hour bounce to $265 levels.
At the time of writing, Ethereum was down by 0.90% to $263.41. A mixed start to the day saw Ethereum rise to an early morning high $267.04 before falling to a low $261.99.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through Friday’s high $268.71 to bring the first major resistance level at $271.64 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $270 levels.
Barring an extended crypto rally, the first major resistance level at $271.64 would likely cap any upside.
Failure to move through Friday’s high $268.71 could see Ethereum slide deeper into the red.
A fall through back through to sub-$262.90 levels would bring the first major support level at $257.03 and the 23.6% FIB of $257.00 into play.
Barring a broad-based crypto sell-off, however, Ethereum should steer clear of sub-$250 support levels.
Looking at the Technical Indicators
Major Support Level: $257.03
Major Resistance Level: $271.64
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 1.12% on Friday. Partially reversing a 1.25% fall from Thursday, Ripple’s XRP ended the day at $0.27426.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.26865 before finding support.
Steering clear of the first major support level at $0.2610, Ripple’s XRP rallied to a late afternoon intraday high $0.2790.
Falling short of the first major resistance level at $0.2812, Ripple’s XRP eased back to sub-$0.27 levels before finding late support.
Support from the broader market delivered a final hour move back into positive territory for the day.
At the time of writing, Ripple’s XRP was down by 0.20% to $0.27370. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.27612 before falling to a low $0.27158.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to break back through to $0.2740 levels to support a run at the first major resistance level at $0.2793.
Support from the broader market would be needed, however, for Ripple’s XRP to move through Friday’s high $0.2790.
Barring an extended crypto rally, resistance at $0.28 would likely leave Ripple’s XRP short of the second major resistance level at $0.2843.
Failure to move back through to $0.2740 levels could see Ripple’s XRP fall deeper into the red.
A fall back through the morning low $0.27158 would bring the first major support level at $0.2689 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.26 on the day.
The second major resistance level at $0.2636 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $0.2689
Major Resistance Level: $0.2793
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
