EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 06/02/20

By February 6, 2020Ethereum
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EOS

EOS rallied by 7.18% on Wednesday. Following on from a 0.46% gain on Tuesday, EOS ended the day at $4.5338.

A mixed start to the day saw EOS fall to an early morning intraday low $4.1728 before making a move.

Steering clear of the first major support level at $4.1159, EOS rallied to a late intraday high $4.5880.

EOS broke through the first major resistance level at $4.3142 and the second major resistance level at $4.3904.

The third major resistance level at $5.5887 pinned EOS back from more material gains on the day.

At the time of writing, EOS was up by 0.28% to $4.2065. A mixed start to the day saw EOS rise to an early morning high $4.5517 before sliding to a low $4.5467.

EOS would need to move back through Wednesday’s high $4.5880 to support a run at the first major resistance level at $4.6903.

Support from the broader market would be needed, however, for EOS to through to $4.60 levels.

Barring a broad-based crypto rally, resistance at $4.60 would likely leave EOS short of the first major resistance level at $4.6903.

Failure to move back through Wednesday’s high could see EOS fall back into the red.

A fall back through the morning low $4.4607 to sub-$4.4300 levels would bring the first major support level at $4.2751 into play.

Barring another extended crypto sell-off, however, EOS should continue to steer of the second major support level at $4.0163.

Major Support Level: $4.2751

Major Resistance Level: $4.6903

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 8.37% on Wednesday. Reversing a 0.62% decline from Tuesday, Ethereum ended the day at $204.0.

A mixed start to the day saw Ethereum fall to an early morning intraday low $186.89 before making a move.

Steering clear of the first major support level at $184.56, Ethereum rallied to a late intraday high $207.93.

Ethereum broke through the day’s major resistance levels to close out the day at $200 levels for the first time since September.

In spite of a late pullback from the day high, Ethereum held above the third major resistance level at $202.13.

At the time of writing, Ethereum was up by 0.96% to $205.96. A mixed start to the day saw Ethereum fall to an early morning low $200.54 before striking a high $206.18.

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

EOS rallied by 7.18% on Wednesday. Following on from a 0.46% gain on Tuesday, EOS ended the day at $4.5338.

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

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