EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 21/05/20

By May 21, 2020Ethereum
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EOS

EOS fell by 2.19% on Wednesday. Following on from a 0.28% decline on Tuesday, EOS ended the day at $2.5934.

A range-bound start to the day saw EOS rise to an early morning intraday high $2.6766 before easing back to sub-$2.65 levels.

EOS fell short of the first major resistance level at $2.6864 before sliding in the early afternoon to an intraday low $2.5300.

EOS fell through the first major support level at $2.5936 and second major support level at $2.5357 before finding support.

A return to $2.60 levels late in the day was brief, however, with EOS closing out at $2.59 levels. The first major support level at $2.5936 limited the downside at the day end.

At the time of writing, EOS was down by 0.87% to $2.5710. A mixed start to the day saw EOS rise to an early morning high $2.6119 before falling to a low $2.5710.

EOS would need to move through to $2.60 levels to bring the first major resistance level at $2.6700 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6119.

Barring a broad-based crypto rebound, however, resistance at $2.60 would likely leave EOS short of the major first resistance level.

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

A fall through to sub-$2.55 levels would bring the first major support level at $2.5234 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.4534.

Major Support Level: $2.5234

Major Resistance Level: $2.6700

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.25% on Wednesday. Following on from a 0.07% decline on Tuesday, Ethereum ended the day at $209.96.

It was a choppy day for the majors. Ethereum rose to a mid-morning intraday high $215.50 before hitting reverse.

Falling short of the first major resistance level at $217.29, Ethereum slid to an early afternoon intraday low $205.10.

Ethereum fell through the first major support level at $210.67 and the second major support level at $206.64.

Finding late support, Ethereum broke back through the major support levels to a high $210.82 before easing back.

The late pullback saw Ethereum fall back through the first major support level.

At the time of writing, Ethereum was down by 0.67% to $208.56. A mixed start to the day saw Ethereum rise to an early morning high $211.52 before falling to a low $208.35.

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

EOS fell by 2.19% on Wednesday. Following on from a 0.28% decline on Tuesday, EOS ended the day at $2.5934.

A range-bound start to the day saw EOS rise […]

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