EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 22/05/20

By May 22, 2020Ethereum
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EOS

EOS slid by 5.18% on Thursday. Following on from a 2.19% fall on Wednesday, EOS ended the day at $2.4565.

A bullish start to the day saw EOS rise to an early morning intraday high $2.6119 before hitting reverse.

Falling short of the first major resistance level at $2.6700, EOS slid to a late intraday low $2.4059.

EOS fell through the first major support level at $2.5234 and second major support level at $2.4534 before finding support.

Late in the day, EOS broke back through the second major support level to $2.48 levels before easing back.

At the time of writing, EOS was down by 0.24% to $2.4506. A bearish start to the day saw EOS fall from an early morning high $2.4588 to a low $2.4485.

EOS would need to move through to $2.50 levels to bring the first major resistance level at $2.5770 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.4588.

Barring a broad-based crypto rally, the major first resistance level would likely limit any upside on the day.

Failure to move back through to $2.50 levels could see EOS spend another day in the red.

A fall through Thursday’s low $2.4059 would bring the first major support level at $2.3710 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.2854.

Major Support Level: $2.3710

Major Resistance Level: $2.5770

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 5.40% on Thursday. Following on from a 2.25% decline on Wednesday, Ethereum ended the day at $198.62.

A bullish start to the day saw Ethereum rise to an early morning intraday high $211.52 before hitting reverse.

Falling short of the first major resistance level at $215.27, Ethereum slid to a late intraday low $191.27.

Ethereum fell through the first major support level at $204.87 and the second major support level at $199.79.

Finding support late on, Ethereum briefly broke back through the second major support level to revisit $200 levels.

A final hour pullback, however, saw Ethereum fall back through the second major support level to end the day at sub-$200.

At the time of writing, Ethereum was down by 0.51% to $197.60. A bearish start to the day saw Ethereum fall from an early morning high $198.62 to a low $196.12.

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

EOS slid by 5.18% on Thursday. Following on from a 2.19% fall on Wednesday, EOS ended the day at $2.4565.

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

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