Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 09/01/20
EOS
EOS slid by 2.72% on Wednesday. Following a 0.06% gain on Tuesday, EOS ended the day at $2.7729.
A bullish start to the day saw EOS rally to an early morning intraday high $2.9865 before hitting reverse.
EOS broke through the first major resistance level at $2.9031 and the second major resistance level at $2.9520.
The reversal saw EOS slide to a late afternoon intraday low $2.7113. EOS fell through the first major support level at $2.7833 to find support at the second major support level at $2.7124.
Late support limited the downside on the day, with EOS recovering to $2.8 levels before easing back.
At the time of writing, EOS was up by 0.36% to $2.7830. A mixed start to the day saw EOS fall to an early morning low $2.7500 before striking a high $2.7956.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $2.8250 levels to support a run at the first major resistance level at $2.9358.
Support from the broader market would be needed, however, for EOS to break out from $2.80 levels.
Barring an extended broad-based crypto rally, EOS would likely fall well short of the first major resistance level at $2.9358.
Failure to move through to $2.8250 levels could see EOS hit reverse. A fall through the morning low $2.7500 would bring the first major support level at $2.6606 into play.
Barring a crypto meltdown, however, EOS should steer clear of sub-$2.60 levels.
Looking at the Technical Indicators
Major Support Level: $2.6606
Major Resistance Level: $2.9358
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 1.73% on Wednesday. Following on from a 0.78% fall from Tuesday, Ethereum ended the day at $140.6.
A bullish start to the day saw Ethereum rally to an early morning intraday high $148.00 before hitting reverse.
Ethereum broke through the first major resistance level at $145.96 before sliding to a late intraday low $137.03.
The sell-off saw Ethereum fall through the first major support level at $139.50 before support kicked in.
Finding support from the broader market, Ethereum moved back to $140 levels to limit the downside on the day.
At the time of writing, Ethereum was up by 0.01% to $140.61. A mixed start to the day saw Ethereum fall to an early morning low $139.49 before striking a high $141.38
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $142 levels to support a run at the first major resistance level at $146.72.
Support from the broader market would be needed for Ethereum to break out from the morning high $141.38
Barring a broad-based crypto rally, however, Ethereum would likely come up short of $150 levels on the day.
The first major resistance level would likely cap any upside.
Failure to move through to $142 levels could see Ethereum hit reverse. A fall through the morning low $139.49 would bring the first major support level at $135.75 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of sub-$135 levels.
Looking at the Technical Indicators
Major Support Level: $135.75
Major Resistance Level: $146.72
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slid by 2.88% on Wednesday. Following on from a 4.3% tumble from Tuesday, Ripple’s XRP ended the day at $0.20725.
A relatively bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.21891.
Falling short of the first major resistance level at $0.223, Ripple’s XRP slid to a late intraday low $0.20350.
Ripple’s XRP fell through the first major support level at $0.20570 before moving back through to $0.2080 levels.
Resistance at $0.21 left Ripple’s XRP deep in the red on the day.
At the time of writing, Ripple’s XRP was up by 0.17% to $0.20761. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20555 before striking a high $0.20867.
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 $0.2100 levels to support a run at the first major resistance level at $0.21630.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20867.
Barring an extended rally through the day, the first major resistance level at $0.2163 would likely limit any upside.
Failure to move back through to $0.2100 levels could see Ripple’s XRP slide back into the red.
A fall through the morning low $0.20555 would bring the first major support level at $0.20090 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.20 levels.
Looking at the Technical Indicators
Major Support Level: $0.20090
Major Resistance Level: $0.21630
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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