EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 24/01/20

By January 24, 2020Ethereum
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EOS

EOS slid by 2.01% on Thursday. Following on from a 0.13% decline on Wednesday, EOS ended the day at $3.5749.

It was a bearish start to the day. EOS slid from an early morning intraday high $3.6481 to an early afternoon intraday low $3.4948.

Steering clear of the major resistance levels, EOS fell through the first major support level at $3.5697.

Finding support at the second major support level at $3.4952, EOS recovered to $3.59 levels before a 2nd pullback.

EOS fell back through the first major support level at $3.5697 to $3.51 levels before late support kicked in.

At the time of writing, EOS was down by 3.59% to $3.4465. A bearish start to the day saw EOS fall from an early morning high $3.5740 to a low $3.4051.

EOS fell through the first major support level at $3.4971 and the second major support level at $3.4193 early on.

EOS would need to break back through the first major support level and move through to $3.57 levels to support a run at the first major resistance level at $3.6504.

Support from the broader market would be needed for EOS to break back through to $3.50 levels.

Barring a broad-based crypto rebound, however, EOS would likely fall well short of $3.60 levels on the day.

Failure to move through to $3.57 levels could see EOS struggle throughout the day.

A fall back through the second major support level at $3.4193 would bring sub-$3.40 levels into play.

We would expect EOS to steer well clear of the third major support level at $3.2660, however.

Major Support Level: $3.4971

Major Resistance Level: $3.6504

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 3.18% on Thursday. Following on from a 0.95% fall on Wednesday, Ethereum ended the day at $162.4.

Bearish through the day, Ethereum fell from an early morning intraday high $167.79 to a late afternoon intraday low $158.44.

Ethereum fell through the first major support level at $165.20 and the second major support level at 162.73.

Finding late support, Ethereum moved back through to $162 levels to limit the loss on the day.

At the time of writing, Ethereum was down by 2.38% to $158.54. A bearish start to the day saw Ethereum fall from an early morning high $163.00 to a low $157.55.

Ethereum fell through the first major support level at $157.99 before moving back through to $158 levels.

EOS slid by 2.01% on Thursday. Following on from a 0.13% decline on Wednesday, EOS ended the day at $3.5749.

It was a bearish start to the day. EOS […]

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