EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 03/05/20

By May 3, 2020Ethereum
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EOS

EOS rose by 2.52% on Saturday. Following on from a 1.53% gain on Friday, EOS ended the day at $2.9417.

A mixed start to the day saw EOS fall to an early morning intraday low $2.8571 before making a move.

Steering clear of the first major support level at $2.8196, EOS rallied to a late afternoon high $2.9351.

EOS broke through the first major resistance level at $2.9289 before falling back to sub-$2.89 levels.

Finding late support, EOS broke back through the first major resistance level to a final hour intraday high $2.9495.

At the time of writing, EOS was up by 1.62% to $2.9895. A bullish start to the day saw EOS rally from an early morning low $2.9415 to a high $3.0136.

EOS broke through the first major resistance level at $2.9751 and the second major resistance level at $3.0085.

EOS would need to break back through the second major resistance level at $3.0085 to bring the third major resistance level at $3.1009 into play.

Support from the broader market would be needed, however, for EOS to break back through to $3.00 levels.

Barring another extended crypto rally, the second major resistance level and resistance at $3.00 would likely limit any upside.

Failure to break back through the second major resistance level at $3.0085 could see EOS give up early gains.

A fall through to sub-$2.9160 levels would bring the first major support level at $2.8827 into play before any recovery.

Barring a crypto sell-off, however, EOS should steer well clear of sub-$2.90 levels on the day.

Major Support Level: $2.8827

Major Resistance Level: $2.9751

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.02% on Saturday. Following on from a 2.85% gain on Friday, Ethereum ended the day at $214.25.

Tracking the broader market, Ethereum fell to a mid-morning intraday low $210.57 before making a move.

Steering clear of the first major support level at $206.32, Ethereum rallied to a late afternoon intraday high $215.59.

Falling short of the first major resistance level at $217.72, Ethereum fell back to sub-$212 levels and into the red.

Finding late support from the broader market, Ethereum recovered to $214 levels to wrap up the day in the green.

At the time of writing, Ethereum was up by 1.59% to $217.66. A bullish start to the day saw Ethereum rally from an early morning low $213.74 to a high $219.48.

Steering clear of the major support levels, Ethereum broke through the first major resistance level at $216.37 and second major resistance level at $218.49.

EOS rose by 2.52% on Saturday. Following on from a 1.53% gain on Friday, EOS ended the day at $2.9417.

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

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