EOS
EOS rose 1.90% on Saturday. After falling 1.73% from Friday, EOS ended the day at $ 2.6324.
A bullish start to the day caused the EOS to rally from an intraday low of $ 2.5705 to an early morning intraday high of $ 2.6863.
EOS broke the first major resistance level at $ 2.6503 before hitting reverse.
The reversal caused EOS to slide back below $ 2.60 before finding belated support to hit the day’s uptrend.
At the time of writing, EOS was down 0.29% to $ 2.6247. On a mixed start to the day, EOS fell to an early morning low of $ 2.6228 before hitting a high of $ 2.6480.
EOS left key support and resistance levels untested early on.
EOS / USD 17/05/20 daily chart
For the next day
EOS would have to rise to $ 2.63 to bring into play the first major resistance level at $ 2.6890.
However, support from the broader market would be required for EOS to break out of the $ 2.6863 high on Saturday.
Subject to an extended crypto rally, the largest first level of resistance would likely limit any uptrend.
Unless EOS returns to the $ 2.63 level, EOS will fall deeper into the red.
A fall from the morning low of $ 2.6228 would bring the first major support level into play at $ 2.5732.
However, subject to a lengthy crypto sell-off, EOS should stay away from the second major support level of $ 2.5139.
Look at the technical indicators
Main support level: $ 2.5732
Main Resistance Level: $ 2.6890
23.6% FIB Retracement Level: $ 6.62
38% FIB Retracement Level: $ 9.76
62% FIB Retracement Level: $ 14.82
ether
Ethereum rose 3.02% on Saturday. Ethereum partially reversed the day by 4.28% from Friday, ending the day at $ 200.53.
On a bullish start to the day, Ethereum rebounded from an intraday low of $ 193.24 to a midday intraday high of $ 203.36.
Ethereum broke the first major resistance level at $ 202.22 before falling back to $ 197.
Ethereum found support in the broader market and returned to $ 200 levels to catch the day’s uptrend.
At the time of writing, Ethereum was up 0.24% to $ 201.01. Another mixed start to the day saw Ethereum drop to an early morning low of $ 199.10 before rising to a high of $ 202.50.
Ethereum left key support and resistance levels untested early on.
ETH / USD 17/05/20 daily chart
For the next day
Ethereum would have to avoid levels below $ 200 to bring into play the first major resistance level at $ 204.85.
However, support from the broader market would be required for Ethereum to break out of the $ 203.36 high on Saturday.
Aside from an extended crypto rally, the first major resistance level would likely limit any uptrend.
If levels below $ 200 are not avoided, Ethereum could hit backwards.
A relapse from the morning lows of $ 199.10 would bring into play the first major support level at $ 194.73.
However, subject to an extended crypto sell-off, Ethereum should stay away from levels below $ 190.
Look at the technical indicators
Main support tier: $ 194.73
Main Resistance Level: $ 204.85
23.6% FIB Retracement Level: $ 257
38.2% FIB Retracement Level: $ 367
62% FIB Retracement Level: $ 543
Ripple’s XRP
Ripple’s XRP rose 0.81% on Saturday. Ripple’s XRP partially returned 3.13% in the day, ending the day at $ 0.19961.
A bullish start to the day caused Ripple’s XRP to rise from an intraday low of $ 0.19647 to an intraday high of $ 0.20229 early this morning.
Ripple’s XRP stayed away from major support and resistance levels, falling below $ 0.1980 before finding belated support.
The late support brought the day’s uptrend.
At the time of writing, Ripple’s XRP was up 0.32% to $ 0.20024. On a mixed start to the day, Ripple’s XRP fell to an early morning low of $ 0.19882 before hitting a high of $ 020129.
Ripple’s XRP left key support and resistance levels untested early on.
XRP / USD 17/05/20 daily chart
For the next day
Ripple’s XRP needs to avoid levels below $ 0.20 to support a run at the first major resistance level at $ 0.2024.
However, support from the broader market would be required for Ripple’s XRP to break out of the $ 0.20229 high on Saturday.
Aside from a lengthy crypto rally, Saturday’s first major resistance level and high would likely limit any uptrend.
Unless Ripple is avoided below $ 0.20, Ripple’s XRP could give up on early gains.
A relapse from the morning low of $ 0.19882 would bring into play the first major support level at $ 0.1966.
However, barring a crypto meltdown, Ripple’s XRP should stay away from support levels below $ 0.19.
The second major support level at $ 0.1936 should limit any downside for the day.
Look at the technical indicators
Main support level: $ 0.1966
Main Resistance Level: $ 0.2024
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
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