EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 9th, 2020

EOS

EOS slid by 3.26% on Tuesday. Following on from a 2.05% decline on Monday, EOS ended the day at $2.7608.

It was another mixed start to the day. EOS rose to an early morning intraday high $2.8706 before hitting reverse.

Falling short of the first major resistance level at $2.9715, EOS slid to a late intraday low $2.6567.

EOS fell through the first major support level at $2.6861 before recovering to $2.76 levels to limit the downside.

At the time of writing, EOS was down by 0.25% to $2.7540. A bearish start to the day saw EOS fall from an early morning high $2.7688 to a low $2.7438.

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

For the day ahead

EOS would need to move through the $2.7627 pivot level to support a run at the first major resistance level at $2.8687.

Support from the broader market would be needed, however, for EOS to break back through to $2.80 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2.8706 would likely cap any upside.

Failure to move through the pivot level at $2.7627 would bring the first major support level at $2.6548 into play.

Barring another extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level sits at $2.5488.

Looking at the Technical Indicators

First Major Support Level: $2.6548

Pivot Level: $2.7627

First Major resistance Level: $2.8687

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum slid by 4.59% on Tuesday. Reversing a 0.24% gain from Monday, Ethereum ended the day at $337.48.

It was also a mixed start to the day. Ethereum rose to an early morning intraday high $357.01 before hitting reverse.

Falling short of the first major resistance level at $367.19, Ethereum slid to a late intraday low $325.36.

Ethereum fell through the first major support level at $331.70 before wrapping up the day at $337 levels.

At the time of writing, Ethereum was down by 0.44% to $336.01. A bearish start to the day saw Ethereum fall from an early morning high $337.48 to a low $335.43.

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

For the day ahead

Ethereum would need to move through the $340 pivot to support a run at the first major resistance level at $354.54.

Support from the broader market would be needed, however, for Ethereum to break back through to $350 levels.

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

Failure to move through the $340 pivot would bring the first major support level at $322.89 into play.

Barring an extended sell-off, however, Ethereum should continue to avoid sub-$300 levels. The second major support level at $308.30 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $322.89

Pivot Level: $340.00

First Major Resistance Level: $354.54

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 2.42% on Tuesday. Reversing a 1.02% gain from Monday, Ripple’s XRP ended the day at $0.23671.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.24334 before hitting reverse.

Falling short of the first major resistance level at $0.2467, Ripple’s XRP slid to a late intraday low $0.2310.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2337 before support kicked in.

A late move back through the first major support level to $0.2360 levels cut the deficit on the day.

At the time of writing, Ripple’s XRP was down by 0.60% to $0.23528. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.23657 to a low $0.23528.

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

For the day ahead

Ripple’s XRP will need to move through the $0.2370 pivot to support a run at the first major resistance level at $0.2430.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.24334 would likely cap any upside.

Failure to move through the $0.2370 pivot would bring the first major support level at $0.2307 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.22 levels. The second major support level at $0.2247 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2307

Pivot Level: $0.2370

First Major Resistance Level: $0.2430

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

More From FXEMPIRE:

LEAVE A REPLY

Please enter your comment!
Please enter your name here