EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 10/05/20

By May 11, 2020Ethereum
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EOS

EOS tumbled by 11.0% on Sunday. Following a 0.03% gain on Saturday, EOS ended the week down 13.83% to $2.4471.

It was a particularly bearish start to the day. EOS tumbled from an early morning intraday high $2.7506 to a 1st-hour intraday low $2.2606.

The meltdown saw EOS slide through the major support levels before recovering to $2.49 levels by mid-morning.

Falling short of the third major support level at $2.5698, EOS slid back to $2.30 levels before finding late support.

At the time of writing, EOS was up by 0.20% to $2.4521. A mixed start to the day saw EOS rise to an early morning high $2.4811 before falling to a low $2.4405.

EOS would need to move through to $2.49 levels to bring the first major resistance level at $2.7116 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.4811.

Barring an extended crypto rebound, resistance at $2.50 would likely leave EOS short of the first major support level.

Failure to move back through to $2.49 levels would see EOS slide into the red.

A fall through the morning low $2.4405 would bring the first major support level at $2.2216 into play.

Barring another extended crypto sell-off, however, EOS should steer clear of sub-$2.20 levels.

Major Support Level: $2.2216

Major Resistance Level: $2.7116

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum tumbled by 10.63% on Sunday. Following on from a 0.78% decline on Saturday, Ethereum ended the week down 10.71% to $187.73.

Tracking the broader market, Ethereum slid from an intraday high $210.06 to a 1st-hour intraday low $180.01.

Ethereum fell through the major support levels before briefly recovering to $193 levels.

Falling short of the third major support level at $197.98, Ethereum fell back to $180 levels before finding late support.

At the time of writing, Ethereum was up by 0.86% to $189.34. A bullish start to the day saw Ethereum rise from an early morning low $187.65 to a high $191.23.

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

Ethereum would need to move through to $192.60 levels to bring the first major resistance level at $205.19 into play.

EOS tumbled by 11.0% on Sunday. Following a 0.03% gain on Saturday, EOS ended the week down 13.83% to $2.4471.

It was a particularly bearish start to the day. […]

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