EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 10/02/20
EOS
EOS rallied by 5.22% on Sunday. Following on from a 3.64% rally on Saturday, EOS ended the week up by 18.38% to $5.0037.
A bullish start to the day saw EOS rally from an early morning intraday low $4.7532 to a mid-morning intraday high $5.0345.
Steering clear of the major support levels, EOS broke through the first major resistance level at $4.9256.
Through the early afternoon, EOS fell back through the first major resistance level to sub-$4.90 levels before a late rally.
EOS broke back through the first major resistance level to wrap up the day at $5.00 levels.
At the time of writing, EOS was down by 0.43% to $4.9822. A bearish start to the day saw EOS fall from an early morning high $5.0328 to a low $4.9706.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $5.00 levels to support a run at the first major resistance level at $5.1077.
Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $5.0345.
Barring a broad-based crypto rebound, the first major resistance would likely the upside on the day.
Failure to move through to $5.00 levels could see EOS fall deeper into the red.
A fall back through the morning low $4.9706 to sub-$4.93 levels would bring the first major support level at $4.8264 into play.
Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$4.70 levels.
Looking at the Technical Indicators
Major Support Level: $4.8264
Major Resistance Level: $5.1077
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 2.44% on Sunday. Following on from a 0.07% gain on Saturday, Ethereum ended the week up 21.56% to $228.80.
Tracking the broader market, Ethereum rallied from an early intraday low $223.16 to a mid-morning intraday high $230.90.
Ethereum broke through the first major resistance level at $230.10 before sliding back to $224 levels.
Avoiding negative territory, Ethereum found support in the final hour to wrap up the day at $228 levels.
At the time of writing, Ethereum was up by 0.06% to $228.93. A mixed start to the day saw Ethereum rise to an early morning high $229.60 before falling to a low $227.57.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back the morning high $229.60 to support a run at the first major resistance level at $232.08.
Support from the broader market would be needed, however, for Ethereum to break back through Sunday’s high $230.90.
Barring an extended rally through the day, the first major resistance level at $232.08 would likely cap any upside.
Failure to move through the morning high $229.60 could see Ethereum hit reverse.
A fall back through to sub-$227.60 levels would bring the first major support level at $224.34 into play before any recovery.
Barring a crypto sell-off, however, Ethereum should steer clear of sub-$220 levels.
Looking at the Technical Indicators
Major Support Level: $224.34
Major Resistance Level: $232.08
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rose by 1.92% on Sunday. Reversing a 0.75% fall from Saturday, Ripple’s XRP ended the week up 12.30% to $0.28231.
A bullish start to the day saw Ripple’s XRP rally to a mid-morning intraday high $0.28884 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.2846 before sliding to an early afternoon intraday low $0.2760.
Steering clear of the first major support level at $0.2668, Ripple’s XRP bounced back to $0.2840 levels late in the day.
The first major resistance level at $0.2846 pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was down by 0.09% to $0.28205. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.28300 before falling to a low $0.28161.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to break back through to $0.2824 levels to support a run at the first major resistance level at $0.2888.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.28242.
Barring an extended crypto rally, the first major resistance level at $0.2888 would likely continue to leave Ripple’s XRP short of $0.29 levels.
Failure to move back through to $0.2824 levels could see Ripple’s XRP struggle later in the day.
A fall back through the morning low $0.28161 to sub-$0.28 levels would bring the first major support level at $0.2759 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.27 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.2759
Major Resistance Level: $0.2888
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
This article was originally posted on FX Empire
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