EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 10/02/20

EOS

EOS rallied by 5.22% on Sunday. Following on from a 3.64% rally on Saturday, EOS ended the week up by 18.38% to $5.0037.

A bullish start to the day saw EOS rally from an early morning intraday low $4.7532 to a mid-morning intraday high $5.0345.

Steering clear of the major support levels, EOS broke through the first major resistance level at $4.9256.

Through the early afternoon, EOS fell back through the first major resistance level to sub-$4.90 levels before a late rally.

EOS broke back through the first major resistance level to wrap up the day at $5.00 levels.

At the time of writing, EOS was down by 0.43% to $4.9822. A bearish start to the day saw EOS fall from an early morning high $5.0328 to a low $4.9706.

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

For the day ahead

EOS would need to move back through to $5.00 levels to support a run at the first major resistance level at $5.1077.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $5.0345.

Barring a broad-based crypto rebound, the first major resistance would likely the upside on the day.

Failure to move through to $5.00 levels could see EOS fall deeper into the red.

A fall back through the morning low $4.9706 to sub-$4.93 levels would bring the first major support level at $4.8264 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$4.70 levels.

Looking at the Technical Indicators

Major Support Level: $4.8264

Major Resistance Level: $5.1077

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 2.44% on Sunday. Following on from a 0.07% gain on Saturday, Ethereum ended the week up 21.56% to $228.80.

Tracking the broader market, Ethereum rallied from an early intraday low $223.16 to a mid-morning intraday high $230.90.

Ethereum broke through the first major resistance level at $230.10 before sliding back to $224 levels.

Avoiding negative territory, Ethereum found support in the final hour to wrap up the day at $228 levels.

At the time of writing, Ethereum was up by 0.06% to $228.93. A mixed start to the day saw Ethereum rise to an early morning high $229.60 before falling to a low $227.57.

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

For the day ahead

Ethereum would need to move back the morning high $229.60 to support a run at the first major resistance level at $232.08.

Support from the broader market would be needed, however, for Ethereum to break back through Sunday’s high $230.90.

Barring an extended rally through the day, the first major resistance level at $232.08 would likely cap any upside.

Failure to move through the morning high $229.60 could see Ethereum hit reverse.

A fall back through to sub-$227.60 levels would bring the first major support level at $224.34 into play before any recovery.

Barring a crypto sell-off, however, Ethereum should steer clear of sub-$220 levels.

Looking at the Technical Indicators

Major Support Level: $224.34

Major Resistance Level: $232.08

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 1.92% on Sunday. Reversing a 0.75% fall from Saturday, Ripple’s XRP ended the week up 12.30% to $0.28231.

A bullish start to the day saw Ripple’s XRP rally to a mid-morning intraday high $0.28884 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2846 before sliding to an early afternoon intraday low $0.2760.

Steering clear of the first major support level at $0.2668, Ripple’s XRP bounced back to $0.2840 levels late in the day.

The first major resistance level at $0.2846 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.09% to $0.28205. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.28300 before falling to a low $0.28161.

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 $0.2824 levels to support a run at the first major resistance level at $0.2888.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.28242.

Barring an extended crypto rally, the first major resistance level at $0.2888 would likely continue to leave Ripple’s XRP short of $0.29 levels.

Failure to move back through to $0.2824 levels could see Ripple’s XRP struggle later in the day.

A fall back through the morning low $0.28161 to sub-$0.28 levels would bring the first major support level at $0.2759 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.27 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.2759

Major Resistance Level: $0.2888

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