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

By May 5, 2020Ethereum
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EOS

EOS fell by 2.48% on Monday. Following on from a 3.55% slide on Sunday, EOS ended the day at $2.7693.

A bearish start to the day saw EOS slide from an early morning intraday high $2.8466 to a mid-morning intraday low $2.6274.

EOS fell through the first major support level at $2.7326. Finding support at the second major support level at $2.6273, EOS recovered to $2.73 levels before sliding back.

Through the 2nd half of the day, EOS managed to break back through the first major support level to a high $7.7982 before easing back.

At the time of writing, EOS was up by 0.22% to $2.7754. A bullish start to the day saw EOS rise from an early morning low $2.7690 to a high $2.7800.

EOS would need to move through to $2.80 levels to bring the first major resistance level at $2.8681 into play.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.8466.

Barring a broad-based crypto rally, the first major resistance level at $2.8681 would likely leave EOS short of $2.90 levels.

Failure to move through to $2.80 levels would see EOS struggle throughout the day.

A fall through to sub-$2.75 levels would bring the first major support level at $2.6489 into play.

Barring an extended crypto sell-off, however, EOS should steer well clear of sub-$2.60 levels on the day.

Major Support Level: $2.6489

Major Resistance Level: $2.8681

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum declined by 1.61% on Monday. Following on from a 1.87% fall on Sunday, Ethereum ended the day at $206.86.

A bearish start to the day saw Ethereum slide from an early morning intraday high $210.96 to a mid-morning intraday low $195.17.

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

Finding support in the late morning, Ethereum moved back through to $202 levels before falling back to $198 levels.

Through the 2nd half of the day, Ethereum recovered to a high $209.41 before easing back. The recovery saw Ethereum back through and hold above the first major support level at $203.85.

At the time of writing, Ethereum was up by 0.31% to $207.51. A mixed start to the day saw Ethereum rise to an early morning high $208.21 before falling to a low $206.92.

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

EOS fell by 2.48% on Monday. Following on from a 3.55% slide on Sunday, EOS ended the day at $2.7693.

A bearish start to the day saw EOS slide […]

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