EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 02/05/20

By May 2, 2020Ethereum
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EOS

EOS rose by 1.53% on Friday. Partially reversing a 5.78% slide from Thursday, EOS ended the day at $2.8723.

A mixed start to the day saw EOS fall to an early morning intraday low $2.8234 before making a move.

Steering clear of the first major support level at $2.6746, EOS rallied to a late morning intraday high $2.9327.

Falling short of the first major resistance level at $3.0442, EOS fell back to $2.83 levels before wrapping up the day at $2.87 levels.

At the time of writing, EOS was down by 0.39% to $2.8611. A mixed start to the day saw EOS rise to an early morning high $2.8818 before falling to a low $2.8610.

EOS would need to move through to $2.8760 levels to support a run at the first major resistance level at $2.9289.

Support from the broader market would be needed, however, for EOS to break back through to $2.90 levels.

Barring another extended crypto rally, the first major resistance level and Friday’s high $2.9327 would likely limit any upside.

Failure to move through to $2.8760 levels could see EOS fall deeper into the red.

A fall through to sub-$2.86 levels would bring the first major support level at $2.8196 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer well clear of sub-$2.70 levels. The second major support level at $2.7668 should limit any downside on the day.

Major Support Level: $2.7668

Major Resistance Level: $2.9289

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.85% on Friday. Partially reversing a 4.41% slide from Thursday, Ethereum ended the day at $212.09.

A bullish start to the day saw Ethereum rally from an early morning intraday low $206.18 to a late morning intraday high $217.58.

Falling short of the first major resistance level at $221.72, Ethereum fell back to $208 levels before finding support.

Finding late support, Ethereum bounced back to $212 levels to wrap up the day in the green.

At the time of writing, Ethereum was up by 0.40% to $212.94. A mixed start to the day saw Ethereum fall to an early morning low $211.22 before striking a high $213.55.

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

EOS rose by 1.53% on Friday. Partially reversing a 5.78% slide from Thursday, EOS ended the day at $2.8723.

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

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