EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 16/01/20

By January 16, 2020 Ethereum
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EOS

EOS fell by 0.67% on Wednesday. Following a 22.09% rally from Tuesday, EOS ended the day at $3.7647.

A mixed start to the day saw EOS strike an early morning intraday high $3.9400 before hitting reverse.

Falling short of the first major resistance level at $4.1995, EOS fell to a mid-morning intraday low $3.5687.

Steering clear of the first major support level at $3.2453, EOS recovered to $3.8 levels before falling back to $3.6 levels.

Finding support late, however, EOS moved back through to $3.7 levels to limit the loss on the day.

At the time of writing, EOS was down by 4.79% to $3.5845. A bearish start to the day saw EOS fall from an early morning high $3.7961 to a low $3.5216.

Steering clear of the major resistance levels, EOS fell through the first major support level at $3.5756.

EOS would need to move back through to $3.76 levels to support a run at the first major resistance level at $3.9469.

Support from the broader market would be needed for EOS to move back through this morning’s high $3.7961.

Barring another broad-based crypto rebound, however, EOS would likely come up short of the morning high.

In the event of a rebound, Wednesday’s high $3.94 and first major resistance level would likely cap any upside.

Failure to move back through to $3.76 levels would see EOS struggle throughout the day.

A fall back through the first major support level at $3.5756 would bring sub-$3.5 levels into play before any recovery.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.3865.

Major Support Level: $3.5756

Major Resistance Level: $3.9469

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.33% on Wednesday. Following on from a 15.51% rally on Tuesday, Ethereum ended the day at $166.29.

A mixed start to the day saw Ethereum strike an early morning intraday high $172.18 before hitting reverse. Falling short of the first major resistance level at $176.56, Ethereum fell to a mid-morning intraday low $159.13.

Steering clear of the first major resistance level at $149.20, Ethereum recovered to $168 levels before a fall back to an afternoon low $160.35.

Finding late support, however, Ethereum moved back through to $166 levels and into the green.

At the time of writing, Ethereum was down by 3.37% to $160.68. A bearish start to the day saw Ethereum slide from an early morning high $167.28 to a low $158.17.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $159.55.

EOS fell by 0.67% on Wednesday. Following a 22.09% rally from Tuesday, EOS ended the day at $3.7647.

A mixed start to the day saw EOS strike an early […]

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