EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 09/03/20

EOS

EOS tumbled by 16.25% on Sunday. Following on from a 5.13% slide on Saturday, EOS ended the week down 13.03% at $3.0552.

Bearish throughout the day, EOS slid from an early morning intraday high $3.6480 to a final hour intraday low $2.9938.

EOS fell through the day’s major support levels to visit sub-$3.00 levels for the 1^st time since mid-January.

At the time of writing, EOS was down by 0.27% to $3.0471. A mixed start to the day saw EOS rise to an early morning high $3.1419 before falling to a low $3.0134.

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

For the day ahead

EOS would need to move back through to $3.25 levels to bring the first major resistance level at $3.4709 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $3.1419.

Barring a broad-based crypto rally, resistance at $3.20 levels would likely leave EOS short of the first major resistance level.

Failure to move back through to $3.25 levels could see EOS fall deeper into the red.

A fall back through to sub-$3.00 levels would bring the first major support level at $2.8167 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$3.00 levels.

Looking at the Technical Indicators

Major Support Level: $2.8167

Major Resistance Level: $3.4709

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum tumbled by 16.11% on Sunday. Following on from a 3.17% fall on Saturday, Ethereum ended the week down 8.18% at $199.46.

Tracking the broader market, Ethereum tumbled from an early morning intraday high $237.75 to a final hour intraday low $196.00.

Ethereum fell through the major support levels to wrap up the day at sub-$200 for the 1^st time since early February.

At the time of writing, Ethereum was down by 0.36% to $198.74. A mixed start to the day saw Ethereum rise an early morning high $208.00 before falling to a low $196.07.

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

For the day ahead

Ethereum would need to move back through to $211 levels to support a run at the first major resistance level at $226.14.

Support from the broader market would be needed, however, for Ethereum to breakout form the morning high $208.00.

Barring a broad-based crypto rebound, resistance at $210 would likely leave Ethereum short of the major resistance levels.

Failure to move back through to $211 levels could see Ethereum fall deeper into the red.

A fall back through the morning low $196.07 would bring the first major support level at $184.39 into play.

Barring an extended crypto sell-off, Ethereum should steer clear of sub-$190 levels.

Looking at the Technical Indicators

Major Support Level: $184.39

Major Resistance Level: $226.14

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 13.56% on Sunday. Following on from a 3.54% fall on Saturday, Ripple’s XRP ended the week down 10.11% at $0.20476.

Bearish throughout the day, Ripple’s XRP tumbled from an early morning intraday high $0.23689 to a late intraday low $0.20050.

Ripple’s XRP fell through the day’s major support levels to end the day at sub-$0.21 levels for the 1^st time since early January.

At the time of writing, Ripple’s XRP was down by 1.09% to $0.20252. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.21176 before falling to a low $0.20252.

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 $0.2141 levels to support a run at the first major resistance level at $0.2276.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.22 levels.

Barring a broad-based crypto rebound, resistance at $0.2150 would likely leave Ripple’s XRP short of the first major resistance level.

Failure to move through to $0.2141 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the Sunday’s low $0.20050 first major support level at $0.1912 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should continue to steer clear of sub-$0.20 levels.

Looking at the Technical Indicators

Major Support Level: $0.1912

Major Resistance Level: $0.2276

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