EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 23/05/20

By May 23, 2020Ethereum
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EOS

EOS rallied by 5.24% on Friday. Reversing a 5.18% slide from Thursday, EOS ended the day at $2.5876.

A bearish start to the day saw EOS fall to an early morning intraday low $2.4395 before making a move.

Steering clear of the first major support level at $2.3710, EOS rallied to a late intraday high $2.6335.

EOS broke through the first major resistance level at $2.5770 to hit $2.63 levels before a late pullback.

In spite of the late pullback, however, EOS held above the first major resistance level.

At the time of writing, EOS was up by 0.37% to $2.5972. A bullish start to the day saw EOS rise from an early morning low $2.5934 to a high $2.6190.

EOS would need to move through to $2.60 levels to bring the first major resistance level at $2.6676 into play.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.6335.

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

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

A fall through to sub-$2.5550 levels would bring the first major support level at $2.4736 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.3595.

Major Support Level: $2.4736

Major Resistance Level: $2.6676

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 4.39% on Friday. Partially reversing a 5.40% slide from Thursday, Ethereum ended the day at $207.32.

A bearish start to the day saw Ethereum fall to an early morning intraday low $196.12 before finding support.

Steering clear of the first major support level at $189.42, Ethereum rallied to a late afternoon intraday high $209.28.

Ethereum came within range of the first major resistance level at $209.67 before easing back late in the day.

At the time of writing, Ethereum was up by 1.01% to $209.42. A bullish start to the day saw Ethereum rise from an early morning low $207.30 to a high $210.00.

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

EOS rallied by 5.24% on Friday. Reversing a 5.18% slide from Thursday, EOS ended the day at $2.5876.

A bearish start to the day saw EOS fall to an […]

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