EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 12th, 2020

EOS

EOS rose by 0.39% on Friday. Following on from a 0.96% gain on Thursday, EOS ended the day at $2.7874.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.7112 before making a move.

EOS fell through the first major support level at $2.7264 before rallying to a late morning intraday high $2.8250.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Falling short of the first major resistance level at $2.8358, EOS slipped back to sub-$2.80 and a range-bound 2nd half of the day.” data-reactid=”21″>Falling short of the first major resistance level at $2.8358, EOS slipped back to sub-$2.80 and a range-bound 2nd half of the day.

At the time of writing, EOS was down by 0.40% to $2.7764. A mixed start to the day saw EOS rise to an early morning high $2.7918 before falling to a low $2.7641.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to avoid a fall back through the $2.7745 pivot level to support a run at the first major resistance level at $2.8379.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.8250.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall back through the pivot level at $2.7745 would bring the first major support level at $2.7241 into play.

Barring another extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6607 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.7241

Pivot Level: $2.7745

First Major resistance Level: $2.8379

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rose by 1.63% on Friday. Following on from a 4.83% rally on Thursday, Ethereum ended the day at $373.93.

It was a mixed start to the day. Ethereum rose to an early morning high $372.0 before sliding to an early morning intraday low $355.81. The pullback saw Ethereum fall through the 38.2% FIB of $367.

Steering clear of the major support and resistance levels, Ethereum rallied to a late intraday high $375.38.

Falling short of the first major resistance level at $380.49, Ethereum slipped back to limit the upside on the day. In spite of falling short of the major resistance levels, Ethereum did break back through the 38.2% FIB of $367.

At the time of writing, Ethereum was down by 0.86% to $370.71. A mixed start to the day saw Ethereum rise to an early morning high $374.64 before falling to a low $369.71.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid a fall through the $368.37 pivot to support a run at the first major resistance level at $380.94.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $375.38.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $368.37 pivot would bring the 38.2% FIB of $367 and the first major support level at $361.37 into play.

Barring an extended sell-off, however, Ethereum should continue to avoid sub-$350 levels. The second major support level sits at $348.8.

Looking at the Technical Indicators

First Major Support Level: $361.37

Pivot Level: $368.37

First Major Resistance Level: $380.94

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.19% on Friday. Partially reversing a 1.82% gain from Thursday, Ripple’s XRP ended the day at $0.24276.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.24452 before hitting reverse.

Falling short of the first major resistance level at $0.2483, Ripple’s XRP fell to an early morning intraday low $0.23701.

Ripple’s XRP fell through the first major support level at $0.2387 before finding support.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Through the 2nd half of the day, Ripple’s XRP revisited $0.244 levels before falling back into the red.” data-reactid=”98″>Through the 2nd half of the day, Ripple’s XRP revisited $0.244 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.42% to $0.24173. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24290 to a low $0.24156.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2414 pivot to support a run at the first major resistance level at $0.2459.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.24452.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $0.2414 pivot would bring the first major support level at $0.2383 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.23 levels. The second major support level at $0.2339 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2383

Pivot Level: $0.2414

First Major Resistance Level: $0.2459

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Please let us know what you think in the comments below.” data-reactid=”130″>Please let us know what you think in the comments below.

Thanks, Bob

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article was originally posted on FX Empire” data-reactid=”132″>This article was originally posted on FX Empire

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