EOS, Ethereum and Ripples XRP

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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