EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 07/02/20

By February 7, 2020Ethereum
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EOS

EOS rose by 1.12% on Thursday. Following on from a 7.18% rally on Wednesday, EOS ended the day at $4.5855.

Another mixed start to the day saw EOS fall to an early morning low $4.4607 before making a move.

Steering clear of the first major support level at $4.2751, EOS rallied to an early afternoon intraday high $4.6657.

Falling short of the first major resistance level at $4.6903, EOS slid back to a mid-afternoon intraday low $4.4285.

Continuing to steer clear of the major support levels, EOS recovered to $4.5 levels to wrap up the day in the green.

At the time of writing, EOS was up by 1.06% to $4.6341. A bullish start to the day saw EOS rise from an early morning low $4.5689 to a high $4.6555.

EOS would need to move back through the morning high $4.6555 to support a run at the first major resistance level at $4.6913.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $4.6647.

Barring a broad-based crypto rally, the first major resistance level at $4.6913 and Thursday high would likely cap any upside.

Failure to move back through the morning high could see EOS fall back into the red.

A fall back through the morning low $4.5689 to sub-$4.56 levels would bring the first major support level at $4.4541 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of the second major support level at $4.3227.

Major Support Level: $4.4541

Major Resistance Level: $4.6913

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 4.38% on Thursday. Following on from an 8.37% rally on Wednesday, Ethereum ended the day at $212.95.

A bearish start to the day saw Ethereum fall to an early morning intraday low $200.54 before making a move.

Steering clear of the first major support level at $191.28, Ethereum rallied to an early afternoon intraday high $216.49.

Ethereum broke through the first major resistance level at $212.32 before sliding back to $205 levels.

Finding support late on, Ethereum broke back through the first major resistance level to wrap up the day at $212 levels.

At the time of writing, Ethereum was up by 2.41% to $218.08. A bullish start to the day saw Ethereum rally from an early morning low $212.94 to a high $218.89.

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

EOS rose by 1.12% on Thursday. Following on from a 7.18% rally on Wednesday, EOS ended the day at $4.5855.

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

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