EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 05/01/20

By January 5, 2020Ethereum
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EOS

EOS rose by just 0.08% on Saturday. Following on from a 7.43% rally on Friday, EOS ended the day at $2.6529.

A mixed start to the day saw EOS fall to an early morning low $2.6320 before striking a mid-morning intraday high $2.6718.

Falling short of the first major resistance level at $2.7414, EOS fell back to a late afternoon intraday low $2.6299.

Steering clear of the first major support level at $2.4996, EOS found late support to close out the day in the green.

At the time of writing, EOS was up by 1.55% to $2.6939. A bullish start to the day saw EOS rise from an early morning low $2.6601 to a high $2.7154.

EOS broke through the first major resistance level at $2.6732 and the second major resistance level at $2.6934 early on.

EOS would need to move back through to $2.70 levels to support another run at the third major resistance level at $2.7353.

Support from the broader market would be needed, however, for EOS to break through the morning high $2.7154.

Barring an extended broad-based crypto rally, resistance at $2.70 would likely limit any upside on the day.

Failure to move through to $2.70 levels could see EOS hit reverse. A fall back through to the major resistance levels would bring $2.65 levels into play before any recovery.

Barring a crypto meltdown, however, EOS should steer clear of sub-$2.60 levels. The first major support level at $2.6313 and the second major support level at $2.6096 should limit any downside.

Major Support Level: $2.6313

Major Resistance Level: $2.6732

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slipped by 0.02% on Saturday. Following a 5.80% rally on Friday, Ethereum ended the day at $134.14.

A bearish start to the day saw Ethereum fall to a mid-day intraday low $132.5 before finding support.

Steering clear of the first major support level at $128.15, Ethereum rallied to a late afternoon intraday high $135.75.

Falling short of the first major resistance level at $137.56, Ethereum fell back to $132 levels before finding late support to close out at $134 levels.

At the time of writing, Ethereum was up by 1.02% to $135.51. A bullish start to the day saw Ethereum rally from an early morning low $134.14 to a high $135.90.

Ethereum broke through the first major resistance level at $135.76 before easing back.

EOS rose by just 0.08% on Saturday. Following on from a 7.43% rally on Friday, EOS ended the day at $2.6529.

A mixed start to the day saw EOS […]

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