EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 16/05/20

By May 16, 2020Ethereum
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EOS

EOS fell by 1.73% on Friday. Partially reversing a 4.01% rally from Thursday, EOS ended the day at $2.5808.

Another choppy start to the day saw EOS slide to an early morning intraday low $2.5361 before finding support.

Steering clear of the first major support level at $2.5126, EOS rallied to a late morning intraday high $2.6627.

Falling short of the first major resistance level at $2.6958, EOS slid back to $2.54 levels before finding late support.

EOS broke back through to $2.61 levels before a final hour fall back to sub-$2.60 levels.

At the time of writing, EOS was up by 0.68% to $2.5985. A mixed start to the day saw EOS fall to an early morning low $2.5705 before rising to a high $2.6117.

EOS would need to move through to $2.60 levels to bring the first major resistance level at $2.6503 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6117.

Barring an extended crypto rally, however, the major first resistance level would likely cap any upside.

Failure to move back through to $2.60 levels would see EOS fall back into the red.

A fall through the morning low $2.5705 would bring the first major support level at $2.5237 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.4666.

Major Support Level: $2.5237

Major Resistance Level: $2.6503

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 4.28% on Friday. Reversing a 1.74% gain from Thursday, Ethereum ended the day at $194.70.

Bearish throughout the day, Ethereum slid from an early morning intraday high $204.30 to a late intraday low $191.35.

Ethereum fell through the first major support level at $197.32 to find support at the second major support level at $191.23.

The late support led to a brief visit to $197 levels before a final hour pullback to sub-$195 levels.

At the time of writing, Ethereum was up by 0.65% to $195.96. A mixed start to the day saw Ethereum fall to an early morning low $193.24 before rising to a high $196.98.

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

EOS fell by 1.73% on Friday. Partially reversing a 4.01% rally from Thursday, EOS ended the day at $2.5808.

Another choppy start to the day saw EOS slide to […]

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