Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 27/03/20
EOS
EOS rose by 1.35% on Thursday. Partially reversing a 2.08% fall from Wednesday, EOS ended the day at $2.3303.
A bullish start to the day saw EOS rally to an early morning intraday high $2.3420 before hitting reverse.
Falling short of the first major resistance level at $2.3713, EOS slid to a late intraday low $2.2655.
In spite of the reversal, EOS steered clear of the first major support level at $2.2244. Finding support late on, EOS reversed the losses to wrap up the day at $2.33 levels.
At the time of writing, EOS was up by 0.36% to $2.3388. A bullish start to the day saw EOS rise from an early morning low $2.3314 to a high $2.3658.
Steering clear of the major support levels, EOS broke through the first major resistance level at $2.3597 early on.
For the day ahead
EOS would need to break back through the first major resistance level at $2.3597 to bring into $2.40 levels into play.
Support from the broader market would be needed, however, for EOS to break through the second major resistance level at $2.3891.
Barring another extended rally, the first major resistance level and early high $2.3658 would likely limit any upside.
Failure to break back through the first major resistance level could see EOS hit reverse.
A fall back through the morning low $2.3314 to sub-$2.3125 levels would bring the first major support level at $2.2832 into play.
Barring a broad-based crypto sell-off, however, EOS should steer clear of the second major support level at $2.2361.
Looking at the Technical Indicators
Major Support Level: $2.2832
Major Resistance Level: $2.3597
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 1.94% on Thursday. Reversing a 1.94% loss from Wednesday, Ethereum ended the day at $139.00.
A mixed start to the day saw Ethereum rise to an early morning high $139.00 before hitting reverse.
Falling short of the first major resistance level at $141.87 Ethereum slid to an early afternoon intraday low $133.52.
Steering clear of the first major support level at $131.58, Ethereum rallied to a final hour intraday high $140.36.
While closing out the day in the green, Ethereum came up short of the first major resistance level at $141.87.
At the time of writing, Ethereum was up by 0.29% to $139.40. A bullish start to the day saw Ethereum rise from an early morning low $139.00 to a high $142.50.
Steering clear of the major support levels, Ethereum broke through the first major resistance level at $141.73 early on.
For the day ahead
Ethereum would need to move through to $140 levels to support another run at the first major resistance level at $141.73.
Support from the broader market would be needed, however, for Ethereum to break back through to $140 levels.
Barring a broad-based crypto rally, the first major resistance level at $141.73 and morning high $142.50 would likely limit any upside.
Failure to move through to $140.00 levels could see Ethereum hit reverse.
A fall back through the morning low to sub-$137.60 levels would bring the first major support level at $134.89 into play.
Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$135 levels.
Looking at the Technical Indicators
Major Support Level: $134.89
Major Resistance Level: $141.73
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 8.97% on Thursday. Following a 0.51% decline on Wednesday, Ripple’s XRP ended the day at $0.17644.
Tracking the broader market, Ripple’s XRP rose to an early morning high $0.16308 before hitting reverse.
Falling short of the first major resistance level at $0.1659, Ripple’s XRP fell back to a mid-morning intraday low $0.16010.
Steering clear of the first major support level at $0.1573, Ripple’s XRP moved within a tight range before finding late support.
The breakout saw Ripple’s XRP surge to a final hour intraday high $0.17800. Ripple’s XRP broke through the first major resistance level at $0.1659 and the second major resistance level at $0.1701.
On the day, the third major resistance level at $0.1787 pinned Ripple’s XRP back.
At the time of writing, Ripple’s XRP was up by 0.87% to $0.17798. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.17595 to a high $0.18036.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move back through to $0.18 levels to support a run at the first major resistance level at $0.1829.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.18036.
Barring an extended crypto rally, the first major resistance level at S0.1829 would likely cap any upside.
Failure to move back through to $0.18 levels could see Ripple’s XRP slide into the red.
A fall back through the morning low to sub-$0.1720 levels would bring the first major support level at $0.1650 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.16 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.1650
Major Resistance Level: $0.1829
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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