EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 16/02/20

By February 16, 2020 Ethereum
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EOS

EOS tumbled by 11.38% on Saturday. Following a 0.08% gain on Friday, EOS ended the day at $4.75.

Bearish throughout the day, EOS fell from an early morning intraday high $5.3872 to a late afternoon intraday low $4.5060.

Steering clear of the major resistance levels, EOS fell through the day’s major support levels.

Through the late part of the day, EOS found support to wrap up the day at $4.75 levels. In spite of the partial recovery, EOS failed to break back through the third major support level at $4.9214.

At the time of writing, EOS was up by 1.42% to $4.8173. A bullish start to the day saw EOS rise from an early morning low $4.6756 to a high $4.8500.

EOS would need to move through to $4.88 levels to support a run at the first major resistance level at $5.2561.

Support from the broader market would be needed, however, for EOS to break back through to $5.00 levels.

Barring an extended crypto rally, the first major resistance level at $5.2561 would likely cap the upside on the day.

Failure to move through to $4.88 levels could see EOS give up the early gains.

A fall back through the morning low $4.6756 would bring the first major support level at $4.3749 into play.

Barring another crypto sell-off, however, EOS should steer of sub-$4.00 levels and the second major support level at $3.9999.

Major Support Level: $4.3749

Major Resistance Level: $5.2561

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 7.35% on Saturday. Reversing a 6.67% rally from Friday, Ethereum ended the day at $264.92.

A bullish start to the day saw Ethereum rally to an early morning intraday high $290.00 before hitting reverse.

Falling short of the first major resistance level at $296.12, Ethereum tumbled to a late afternoon intraday low $261.35.

Ethereum fell through the first major support level at $268.27 before finding support.

A move back through the first major support level to $270 levels was brief, however, with Ethereum sliding back to sub-$265 levels.

At the time of writing, Ethereum was up by 2.24% to $270.86. A bullish start to the day saw Ethereum rise from an early morning low $258.00 to a high $274.00.

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

EOS tumbled by 11.38% on Saturday. Following a 0.08% gain on Friday, EOS ended the day at $4.75.

Bearish throughout the day, EOS fell from an early morning intraday […]

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