EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 04/05/20

By May 5, 2020Ethereum
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EOS

EOS slid by 3.55% on Sunday. Reversing a 2.52% gain from Saturday, EOS ended the week up by 3.58% to $2.8379.

A bullish start to the day saw EOS rally to an early morning intraday high $3.0136 before hitting reverse.

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

The reversal saw EOS slide to a mid-afternoon intraday low $2.7678 before recovering to $2.80 levels.

EOS fell through the first major support level at $2.8827 and the second major support level at $2.8237 on the way down.

At the time of writing, EOS was down by 5.06% to $2.6943. A bearish start to the day saw EOS slide from an early morning high $2.8466 to a low $2.6762.

Steering clear of the major resistance levels, EOS fell through the first major support level at $2.7326 early on.

EOS would need to move through to $2.8730 levels to bring the first major resistance level at $2.9784 into play.

Support from the broader market would be needed, however, for EOS to break out from the first major support level.

Barring a broad-based crypto rebound, resistance at $2.90 would likely leave EOS short of the major resistance levels.

Failure to move through to $2.8730 levels would see EOS struggle throughout the day.

A fall back through the morning low $2.6762 would bring the second major support level at $2.6273 into play.

Barring an extended crypto sell-off, however, EOS should steer well clear of sub-$2.65 levels on the day.

Major Support Level: $2.7326

Major Resistance Level: $2.9784

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.87% on Sunday. Reversing a 1.02% gain from Saturday, Ethereum ended the week up by 6.29% to $210.24.

Tracking the broader market, Ethereum rallied to an early morning intraday high $219.48 before hitting reverse.

Ethereum broke through the first major resistance level at $216.37 and the second major resistance level at $218.49.

The reversal, however, saw Ethereum slide to a mid-afternoon intraday low $205.28 before briefly revisiting $211 levels.

Ethereum fell through the first major support level at $211.35 and the second major support level at $208.45 on the day down.

At the time of writing, Ethereum was down by 5.74% to $198.17. A particularly bearish start to the day saw Ethereum slide from an early morning high $210.96 to a low $197.21.

Ethereum fell through the first major support level at $203.85 and the second major support level at $197.47.

EOS slid by 3.55% on Sunday. Reversing a 2.52% gain from Saturday, EOS ended the week up by 3.58% to $2.8379.

A bullish start to the day saw EOS […]

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