EOS Daily Tech Analysis – 21/02/20 - Cryptonic News

EOS Daily Tech Analysis – 21/02/20

EOS

EOS rose by 0.85% on Thursday. Following a 13.48% tumble on Wednesday, EOS ended the day at $4.0020.

Relatively range-bound through the morning, EOS rose to a mid-morning high $4.0744 before falling to a late afternoon intraday low $3.7818.

Steering clear of the major support and resistance levels, EOS recovered to $4.00 levels to end the day in the green.

At the time of writing, EOS was up by 2.27% to $4.0930. A mixed start to the day saw EOS fall to an early morning low $3.9503 before striking a high $4.1544.

Steering clear of the major support levels, EOS broke through the first major resistance level at $4.1237.

For the day ahead

EOS would need to move through to $4.10 levels to support another run at the first major resistance level at $4.1237.

Support from the broader market would be needed, however, for EOS to break out from the first major resistance level.

In the event of an extended crypto rally on the day, EOS could visit $4.2 levels before any pullback. The second major resistance level at $4.2453 would likely limit any upside, however.

Failure to move through to $4.10 levels could see EOS return to the red.

A fall through to sub-$3.95 levels would bring the first major support level at $3.8311 into play.

Barring an extended crypto sell-off, however, EOS should steer well clear of sub-$3.60 levels. The Second major support level at $3.6601 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $3.8311

Major Resistance Level: $4.1237

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

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EOS Daily Tech Analysis – 21/02/20 EOS Daily Tech Analysis – 21/02/20 Reviewed by Staff Reporter on February 22, 2020 Rating: 5

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