EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 23/01/20

By January 23, 2020 Ethereum
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EOS

EOS fell by 0.13% on Wednesday. Partially reversing a 0.96% gain from Tuesday, EOS ended the day at $3.6443.

A mixed start to the day saw EOS fall to an early morning intraday low $3.5824 before making a move.

Steering clear of the first major support level at $3.5781, EOS struck a mid-morning intraday high $3.7442 before hitting reverse.

EOS broke through the first major resistance level at $3.7072 before falling back to $3.60 levels and into the red.

At the time of writing, EOS was down by 0.93% to $3.6104. Bearish early on, EOS fell from an early morning high $3.6481 to a low $3.6022 before finding support.

EOS would need to move through to $3.6570 levels to support a run at the first major resistance level at $3.7315.

Support from the broader market would be needed for EOS to break back through to $3.70 levels.

Barring a broad-based crypto rally, however, EOS would likely fall short of Wednesday’s high $3.7442 and first major resistance level.

Failure to move through to $3.6570 levels could see EOS fall deeper into the red.

A fall back through the morning low $3.6022 would bring the first major support level at $3.5697 into play before any recovery.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.50 levels and the second major support level at $3.4952.

Major Support Level: $3.5697

Major Resistance Level: $3.7315

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.95% on Wednesday. Partially reversing a 1.52% rise from Tuesday, Ethereum ended the day at $167.68.

Another relatively choppy start to the day saw Ethereum rise to a mid-morning intraday high $171.05 before hitting reverse.

Ethereum came within range of the first major resistance level at $171.29 before sliding to an early afternoon intraday low $165.65.

Finding support at the first major support level at $165.79, Ethereum recovered to $168 levels before easing back.

At the time of writing, Ethereum was down by 1.11% to $165.82. A bearish start to the day saw Ethereum fall from an early morning high $167.79 to a low $165.73.

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

EOS fell by 0.13% on Wednesday. Partially reversing a 0.96% gain from Tuesday, EOS ended the day at $3.6443.

A mixed start to the day saw EOS fall to […]

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