EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 10/01/20

EOS

EOS fell by 0.96% on Thursday. Following on from a 2.72% slide on Wednesday, EOS ended the day at $2.7459.

A mixed start to the day saw EOS rise to an early morning intraday high $2.7956 before hitting reverse.

Falling well short of the first major resistance level at $2.9358, EOS slid to a late afternoon intraday low $2.6943.

Steering clear of the first major support level at $2.6606, EOS found support to move back to $2.7 levels to limit the loss on the day.

At the time of writing, EOS was down by 0.18% to $2.7409. A mixed start to the day saw EOS rise to an early morning high $2.7572 before falling to a low $2.7349.

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

For the day ahead

EOS would need to move back through to $2.7450 levels to support a run at the first major resistance level at $2.7962.

Support from the broader market would be needed, however, for EOS to breakout from Thursday’s high $2.7956.

Barring an extended broad-based crypto rally, the first major resistance level, and Thursday’s high would likely limit any upside on the day.

Failure to move through to $2.7450 levels could see EOS fall deeper into the red. A fall through the morning low to $2.72 levels would bring the first major support level at $2.6949 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.6440.

Looking at the Technical Indicators

Major Support Level: $2.6949

Major Resistance Level: $2.7962

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 2.08% on Thursday. Following on from a 1.73% decline on Wednesday, Ethereum ended the day at $137.71.

Tracking the broader market, Ethereum rose to an early morning intraday high $141.38 before hitting reverse.

Falling short of the first major resistance level at $146.72, Ethereum slid to a late afternoon intraday low $135.12.

The reversal saw Ethereum fall through the first major support level at $135.75 before finding support.

A late move back through to $139 levels was brief, however, with Ethereum wrapping up the day at $137 levels.

At the time of writing, Ethereum was down by 0.62% to $136.84. A mixed start to the day saw Ethereum rise to an early morning high $137.91 before falling to a low $136.82.

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

For the day ahead

Ethereum would need to move through to $138 levels to support a run at the first major resistance level at $141.02.

Support from the broader market would be needed for Ethereum to break out from the morning high to $140 levels.

Barring a broad-based crypto rally, however, the first major resistance level and Thursday’s high $141.38 would likely limit any upside.

Failure to move through to $138 levels could see Ethereum struggle throughout the day.

A fall through the morning low to $135 levels would bring the first major support level at $134.76 into play.

Barring a crypto sell-off, however, Ethereum should steer well clear of the second major support level at $131.81.

Looking at the Technical Indicators

Major Support Level: $134.76

Major Resistance Level: $141.02

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 1.66% on Thursday. Following on from a 2.88% slide on Wednesday, Ripple’s XRP ended the day at $0.20378.

Early on, Ripple’s XRP rose to an early morning intraday high $0.20867 before coming under pressure.

Falling short of the first major resistance level at $0.2163, Ripple’s XRP slid to a late intraday low $0.20113.

In spite of the reversal, Ripple’s XRP steered clear of the first major support level at $0.20090.

Late in the day, a move back through to $0.2030 levels was brief, with Ripple’s XRP spending another day deep in the red.

At the time of writing, Ripple’s XRP was down by 0.55% to $0.20265. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20465 before falling to a low $0.20254.

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 $0.2050 levels to support a run at the first major resistance level at $0.20790.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20465.

Barring an extended rally through the day, the first major resistance level at $0.2163 would likely pin Ripple’s XRP back from $0.21 levels.

Failure to move back through to $0.2050 levels could see Ripple’s XRP slide deeper into the red.

A fall through the morning low $0.20254 would bring the first major support level at $0.20040 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer of the second major support level at $0.1970.

Looking at the Technical Indicators

Major Support Level: $0.20040

Major Resistance Level: $0.20790

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