EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 09/05/20

By May 9, 2020Ethereum
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EOS

EOS fell by 0.64% on Friday. Partially reversing a 4.14% rally from Thursday, EOS ended the day at $2.7500.

A mixed start to the day saw EOS strike an early morning intraday high $2.8249 before hitting reverse.

Falling short of the first major resistance level at $2.8415, EOS slid to a mid-morning intraday low $2.7002.

Steering clear of the first major support level at $2.6342, EOS recovered to a late high $2.8079 before falling back into the red.

At the time of writing, EOS was up by 1.46% to $2.7902. A mixed start to the day saw EOS fall to an early morning low $2.7328 before striking a high $2.7995.

EOS would need to move back through to $2.80 levels to bring the first major resistance level at $2.8165 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.7995.

Barring another extended crypto rally, the first major resistance level at $2.8165 would likely limit any upside.

Failure to move back through to $2.80 levels would see EOS hit reverse.

A fall back through to sub-$2.7580 levels would bring the first major support level at $2.6918 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.6337.

Major Support Level: $2.6918

Major Resistance Level: $2.8165

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slipped by 0.43% on Friday. Following a 6.72% rally on Thursday, Ethereum ended the day at $211.59.

Tracking the broader market, Ethereum rose to an early morning intraday high $217.00 before hitting reverse.

Falling short of the first major resistance level at $220.03, Ethereum slid to a mid-morning intraday low $207.20.

Steering clear of the first major support level at $200.86, Ethereum recovered to $215 levels before a late pullback into the red.

At the time of writing, Ethereum was up by 1.21% to $214.15. A mixed start to the day saw Ethereum fall to an early morning low $209.25 before striking a high $214.37.

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

Ethereum would need to move back through to $215 levels to bring the first major resistance level at $216.66 into play.

EOS fell by 0.64% on Friday. Partially reversing a 4.14% rally from Thursday, EOS ended the day at $2.7500.

A mixed start to the day saw EOS strike an […]

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