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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 28/02/20

EOS

EOS rose by 2.31% on Thursday. Partially reversing a 13.10% tumble from Wednesday, EOS ended the day at $3.6174.

A mixed start to the day saw EOS fall to an early morning intraday low $3.3900 before finding support.

Steering clear of the first major support level at $3.2070, EOS rallied to a late afternoon intraday high $3.7399.

Falling short of the first major resistance level at $3.9899, EOS fell back to $3.50 levels before finding late support.

At the time of writing, EOS was up by 0.63% to $3.6402. A bullish start to the day saw EOS rise from an early morning low $3.6163 to a high $3.6812.

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

EOS/USD 28/02/20 Daily Chart

For the day ahead

EOS would need to move back through the morning high $3.6812 to support a run at the first major resistance level at $3.7749.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $3.7399.

Barring a broad-based crypto rally, however, the first major resistance level would likely leave EOS short of $3.90 levels.

Failure to move back through to $3.6812 levels could see EOS fall back into the red.

A fall back through the morning low to sub-$3.5820 levels would bring the first major support level at $3.4250 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$3.30 levels.

Looking at the Technical Indicators

Major Support Level: $3.4250

Major Resistance Level: $3.7749

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.72% on Thursday. Partially reversing a 9.25% tumble from Wednesday, Ethereum ended the day at $227.63.

A bearish start to the day saw Ethereum fall to an early morning intraday low $209.26.

Ethereum fell through the first major support level at $217.57 and second major support level at $211.63 before finding support.

Tracking the broader market, Ethereum rallied to a late afternoon intraday high $239.00 before easing back to sub-$230 levels.

Coming up against the first major resistance level at $240.14, Ethereum fell to $222 levels before wrapping up the day at $227 levels.

At the time of writing, Ethereum was up by 1.92% to $231.99. A bullish start to the day saw Ethereum rise from an early morning low $226.61 to a high $234.90.

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

ETH/USD 28/02/20 Daily Chart

For the day ahead

Ethereum would need to break back through the morning high $234.90 to bring the first major resistance level at $237.75 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $235 levels.

Barring a broad-based crypto rebound, the first major resistance level at $237.75 should leave Ethereum short of $240 levels.

Failure to move back through the morning high could see Ethereum give up the early gains.

A fall through back through to sub-$229 levels would bring the first major support level at $218.75 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$210 support levels.

Looking at the Technical Indicators

Major Support Level: $218.75

Major Resistance Level: $237.75

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 3.81% on Thursday. Partially reversing a 9.15% tumble from Wednesday, Ripple’s XRP ended the day at $0.23846.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.22431 before making a move.

Steering clear of the major support levels, Ripple’s XRP rallied to a late afternoon intraday high $0.24725.

Falling short of the first major resistance level at $0.2490, Ripple’s XRP fell back to sub-$0.24 levels to limit the upside on the day.

At the time of writing, Ripple’s XRP was up by 1.52% to $0.24209. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23839 to a high $0.24450.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 28/02/20 Daily Chart

For the day ahead

Ripple’s XRP will need to break back through the morning high $0.24450 to support a run at the first major resistance level at $0.2490.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.24725.

Barring a crypto rebound, resistance at $0.2450 would likely leave Ripple’s XRP short of the first major resistance level.

Failure to move through the morning high $0.24450 could see Ripple’s XRP fall back into the red.

A fall back through the morning low $0.23839 to sub-$0.2370 levels would bring the first major support level at $0.2261 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.22 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.2261

Major Resistance Level: $0.2490

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob