EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 14/05/20

By May 14, 2020Ethereum
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EOS

EOS rallied by 3.77% on Wednesday. Following on from a 1.60% gain on Tuesday, EOS ended the day at $2.5261.

A mixed start to the day saw EOS rise to an early morning high $2.4647 before hitting reverse.

Falling short of the first major resistance level at $2.4703, EOS slid to a late morning intraday low $2.4206.

Steering clear of the first major support level at $2.3996, EOS rallied to a late intraday high $2.5600.

EOS broke through the first major resistance level at $2.4703 and the second major resistance level at $2.5032.

In spite of a late pullback, EOS avoided a fall back through the second major resistance level.

At the time of writing, EOS was down by 0.08% to $2.5240. A mixed start to the day saw EOS rise to an early morning high $2.5320 before falling to a low $2.5167.

EOS would need to move through to $2.55 levels to bring the first major resistance level at $2.5839 into play.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.5600.

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

Failure to move back through to $2.55 levels would see EOS slide deeper into the red.

A fall through the morning low to sub-$2.50 levels would bring the first major support level at $2.4445 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.3628.

Major Support Level: $2.4445

Major Resistance Level: $2.5839

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 5.26% on Wednesday. Following on from a 2.24% gain on Tuesday, Ethereum ended the day at $199.92.

Tracking the broader market, Ethereum rose to an early morning high $191.68 before hitting reverse.

Falling short of the first major resistance level at $193.40, Ethereum slid to a late morning intraday low $188.36.

Steering clear of the first major support level at $186.30, Ethereum rallied to a late intraday high $201.59.

Ethereum broke through the first major resistance level at $193.40 and the second major resistance level at $196.69.

A late pullback saw Ethereum wrap up the day at sub-$200 levels.

At the time of writing, Ethereum was down by 0.28% to $199.36. A mixed start to the day saw Ethereum rise to an early morning high $201.27 before falling to a low $198.83.

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

EOS rallied by 3.77% on Wednesday. Following on from a 1.60% gain on Tuesday, EOS ended the day at $2.5261.

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

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