EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 17/01/20

By January 17, 2020 Ethereum
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EOS

EOS rose by 1.94% on Thursday. Reversing a 0.67% fall from Wednesday, EOS ended the day at $3.8367.

A bearish start to the day saw EOS slide from an early high $3.7961 to an early morning intraday low $3.5216.

EOS fell through the first major support level at $3.5756 before rallying to a late afternoon intraday high $3.9485.

Coming up against the first major resistance level at $3.9469, EOS slipped back to $3.8 levels to limit the upside on the day.

At the time of writing, EOS was down by 1.49% to $3.7797. A bearish start to the day saw EOS fall from an early morning high $3.8463 to a low $3.7536.

EOS would need to move back through to $3.80 levels to support a run at the first major resistance level at $4.0163.

Support from the broader market would be needed for EOS to breakout from Thursday’s high $3.9485.

Barring a broad-based crypto rebound, however, EOS would likely come up short of $3.90 levels on the day.

In the event of a rebound, Thursday’s high $3.9485 and first major resistance level would likely cap any upside.

Failure to move back through to $3.80 levels would see EOS struggle throughout the day.

A fall back through the morning low $3.7536 would bring the first major support level at $3.5894 into play before any recovery.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.3420.

Major Support Level: $3.5894

Major Resistance Level: $4.0163

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.41% on Thursday. Reversing a 0.33% gain from Wednesday, Ethereum ended the day at $163.93.

Tracking the broader market, Ethereum fell from an early morning intraday high $167.28 to an early intraday low $158.17.

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

Finding support through the day, Ethereum recovered to $165 levels before sliding back into the red.

At the time of writing, Ethereum was down by 0.39% to $163.29. A mixed start to the day saw Ethereum strike an early morning high $164.87 before falling to a low $162.01.

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

EOS rose by 1.94% on Thursday. Reversing a 0.67% fall from Wednesday, EOS ended the day at $3.8367.

A bearish start to the day saw EOS slide from an […]

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