EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 06/05/20

By May 6, 2020Ethereum
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EOS

EOS rose by just 0.01% on Tuesday. Following a 2.48% fall on Monday, EOS ended the day at $2.7694.

A bullish start to the day saw EOS rise to a mid-morning intraday high $2.8283 before hitting reverse.

Falling short of the first major resistance level at $2.8681, EOS slid to a late morning intraday low $2.7049.

Steering clear of the first major support level at $2.6489, EOS moved back through to $2.76 levels to end the day flat.

At the time of writing, EOS was down by 0.85% to $2.7458. A bearish start to the day saw EOS fall from an early morning high $2.7714 to a low $2.7340.

EOS would need to move through to $2.77 levels to bring the first major resistance level at $2.8302 into play.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.8283.

Barring a broad-based crypto rebound, the first major resistance level at $2.8302 would likely limit any upside.

Failure to move through to $2.77 levels would see EOS struggle throughout the day.

A fall through the morning low $2.7340 would bring the first major support level at $2.7068 into play.

Barring an extended crypto sell-off, however, EOS should steer well clear of the second major support level at $2.6441.

Major Support Level: $2.7068

Major Resistance Level: $2.8302

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.77% on Tuesday. Following on from a 1.61% decline on Monday, Ethereum ended the day at $205.43.

A mixed start to the day saw Ethereum rise to a mid-morning intraday high $212.17 before hitting reverse.

Falling short of the first major resistance level at $213.49, Ethereum fell to a late morning intraday low $201.33.

Avoiding the first major support level at $197.70, Ethereum moved back through to $205 levels to limit the loss.

At the time of writing, Ethereum was down by 0.71% to $203.97. A bearish start to the day saw Ethereum fall from an early morning high $205.92 to a low $202.12.

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

Ethereum would need to move through to $206 levels to bring the first major resistance level at $211.29 into play.

EOS rose by just 0.01% on Tuesday. Following a 2.48% fall on Monday, EOS ended the day at $2.7694.

A bullish start to the day saw EOS rise to […]

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