EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 13/05/20

EOS

EOS rose by 1.60% on Tuesday. Partially reversing a 1.87% fall from Monday, EOS ended the day at $2.4373.

Bullish through the morning, EOS rose to an early afternoon intraday high $2.4655 before hitting reverse.

Falling short of the first major resistance level at $2.5053, EOS slid to a late intraday low $2.3948.

Steering clear of the first major support level at $2.2833, EOS recovered from negative territory to wrap up the day at $2.43 levels.

At the time of writing, EOS was up by 0.42% to $2.4476. A relatively bullish start to the day saw EOS rise from an early morning low $2.4344 to a high $2.4525.

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

For the day ahead

EOS would need to move through to $2.45 levels to bring the first major resistance level at $2.4703 into play.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.4655.

Barring an extended crypto rebound, the first major resistance level, and Tuesday’s high would likely limit any upside.

Failure to move back through to $2.45 levels would see EOS slide into the red.

A fall through the morning low to sub-$2.4330 levels would bring the first major support level at $2.3996 into play.

Barring another extended crypto sell-off, however, EOS should steer clear of sub-$2.20 levels.

The second major support level at $2.3618 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.3996

Major Resistance Level: $2.4703

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.24% on Tuesday. Reversing a 0.92% loss from Monday, Ethereum ended the day at $190.10.

Tracking the broader market, Ethereum rose from an early morning intraday low $185.79 to a mid-afternoon intraday high $192.89.

Falling short of the first major resistance level at $194.32, Ethereum fell back to $186 levels before finding late support.

At the time of writing, Ethereum was up by 0.42% to $190.89. A relatively bullish start to the day saw Ethereum rise from an early morning low $189.49 to a high $191.47.

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

For the day ahead

Ethereum would need to move through to $192 levels to bring the first major resistance level at $193.40 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $192.89.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside.

Failure to move back through to $192 levels could see Ethereum fall back into the red.

A fall back through to sub-$190 levels would bring the first major support level at $186.30 into play.

Barring another extended sell-off, however, Ethereum should avoid sub-$180 levels. The second major support level at $182.49 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $186.30

Major Resistance Level: $193.40

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 2.47% on Tuesday. Reversing a 2.37% decline from Monday, Ripple’s XRP ended the day at $0.19696.

A bullish morning saw Ripple’s XRP rally from an early intraday low $0.19121 to an early afternoon intraday high $0.19986.

Falling short of the first major resistance level at $0.2001, Ripple’s XRP fell back to sub-$0.1940 before finding support.

At the time of writing, Ripple’s XRP was up by 0.61% to $0.19817. A relatively bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19631 to a high $0.19848.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to avoid sub-$0.1960 levels to bring the first major resistance level at $0.2008 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.19986.

Barring an extended crypto rebound, the first major resistance level at $0.2008 would likely limit any upside.

Failure to avoid sub-$0.1960 levels could see Ripple’s XRP hit reverse.

A fall back through to sub-$0.1960 levels would bring the first major support level at $0.1922 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.19 support levels.

Looking at the Technical Indicators

Major Support Level: $0.1922

Major Resistance Level: $0.2008

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

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