Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/02/20
EOS
EOS tumbled by 6.10% on Monday. Partially reversing a 7.03% rally from the previous day, EOS ended the day at $4.1278.
A bearish start to the day saw EOS slide from an early morning intraday high $4.4124 to a late afternoon intraday low $3.9108.
EOS fell through the first major support level at $4.1910 and the second major support level at $3.9826.
Finding support late on, EOS moved back through the second major support level to wrap up the day at $4.1278.
At the time of writing, EOS was down by 1.45% to $4.0678. A bearish start to the day saw EOS fall from an early morning high $4.1501 to a low $4.0394.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $4.15 levels to support a run at the first major resistance level at $4.3899.
Support from the broader market would be needed, however, for EOS to break out from the early morning high $4.1501.
Barring a broad-based crypto rebound, however, EOS would likely fall short of $4.30 levels on the day.
Failure to move back through to $4.15 levels could see EOS fall deeper into the red.
A fall back through the morning low $4.0394 would bring the first major support level at $3.8883 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer well clear of sub-$3.80 levels.
Looking at the Technical Indicators
Major Support Level: $3.8883
Major Resistance Level: $4.3899
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell 3.69% on Monday. Partially reversing a 5.17% gain from Sunday, Ethereum ended the day at $265.31.
A bullish start to the day saw Ethereum strike an early morning intraday high $278.13 before hitting reverse.
Falling short of the first major resistance level at $280.89, Ethereum slid to a late afternoon intraday low $256.06.
Ethereum fell through the first major support level at $265.80 and the 23.6% FIB of $257.
Finding support at the second major support level at $256.12, Ethereum moved back through the 23.6% FIB.
The first major support level at $265.80 limited Ethereum’s recovery late in the day, however.
At the time of writing, Ethereum was down by 1.49% to $261.35. A bearish start to the day saw Ethereum fall from an early morning high $266.24 to a low $260.62.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $266.50 levels to bring the first major resistance level at $276.94 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $270 levels.
Barring a broad-based crypto rebound, resistance at $270 would likely cap any upside.
Failure to move through to $266.50 levels could see Ethereum fall deeper into the red.
A fall through back through the morning low $260.62 would bring 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.
The first major support level at $254.87 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $254.87
Major Resistance Level: $276.94
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slid by 4.65% on Monday. Reversing a 3.12% gain from Sunday, Ripple’s XRP ended the day at $0.27078.
Tracking the broader market, Ripple’s XRP slid from an early morning intraday high $0.28578 to a late afternoon intraday low $0.26411.
Ripple’s XRP fell through the first major support level at $0.2776 and the second major support level at $0.2712.
Finding support late in the day, Ripple’s XRP broke back through the second major support level.
At the time of writing, Ripple’s XRP was down by 0.99% to $0.26810. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.27124 to a low $0.26705.
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 $0.2830.
Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.28 levels.
Barring a crypto rebound, resistance at $0.28 would likely leave Ripple’s XRP short of the first major resistance level.
Failure to move back through to $0.2740 levels could see Ripple’s XRP struggle throughout the day.
A fall back through the morning low $0.26705 would bring the first major support level at $0.2613 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.26 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.2613
Major Resistance Level: $0.2830
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
