EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 11/02/20

EOS

EOS fell by 2.10% on Monday. Partially reversing a 5.22% rally from Sunday, EOS ended the day at $4.8970.

A bullish start to the day saw EOS strike an early morning intraday high $5.0328 before hitting reverse.

Falling short of the first major resistance level at $5.1077, EOS slid to a late morning intraday low $4.7340.

EOS fell through the first major support level at $4.8264 before finding support. A move back through the first major support level to hit $4.9 levels was brief.

In spite of falling back to sub-$4.9 levels, however, EOS avoided a fall back through the first major support level.

At the time of writing, EOS was down by 1.18% to $4.8391. A bearish start to the day saw EOS fall from an early morning high $4.9074 to a low $4.8189.

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

For the day ahead

EOS would need to move back through to $4.8880 levels to support a run at the first major resistance level at $5.0419.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $5.0328.

Barring a broad-based crypto rebound, resistance at $5.00 would likely the upside on the day.

Failure to move through to $4.8880 levels could see EOS fall deeper into the red.

A fall back through the morning low $4.8189 would bring the first major support level at $4.7431 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of sub-$4.60 levels.

Looking at the Technical Indicators

Major Support Level: $4.7431

Major Resistance Level: $5.0419

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.60% on Monday. Reversing a 2.44% rally from Sunday, Ethereum ended the day at $222.85.

A relatively bullish start to the day saw Ethereum rise to an early morning intraday high $229.60 before hitting reverse.

Falling short of the first major resistance level at $232.08, Ethereum tumbled to a late morning intraday low $216.31.

Ethereum fell through the first major support level at $224.34 and the second major support level at $219.88.

Finding support in the early afternoon, Ethereum recovered to $225 levels before falling back through the first major support level at $224.34.

A late move back through to $222 levels cut the deficit, with the second major support level preventing heavier losses late on.

At the time of writing, Ethereum was down by 1.41% to $219.70. A bearish start to the day saw Ethereum fall from an early morning high $223.39 to a low $218.41.

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

For the day ahead

Ethereum would need to move back the morning high $223 to support a run at the first major resistance level at $229.53.

Support from the broader market would be needed, however, for Ethereum to break back through Sunday’s high $229.

Barring a broad-based crypto rebound, resistance at $225 would likely leave Ethereum short of the first major resistance level at $229.53.

Failure to move through to $223 levels could see Ethereum slide deeper into the red.

A fall back through the morning low $218.41 would bring the first major support level at $216.24 into play before any recovery.

Barring an extended crypto sell-off, Ethereum should steer clear of sub-$210 levels.

Looking at the Technical Indicators

Major Support Level: $216.24

Major Resistance Level: $229.53

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 3.16% on Monday. Reversing a 1.92% gain from Sunday, Ripple’s XRP ended the day at $0.27349.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.28300 before hitting reverse.

Falling short of the first major resistance level at $0.28880, Ripple’s XRP slid to a late morning intraday day low $0.26731.

Ripple’s XRP fell through the first major support level at $0.2759 and the second major support level at $0.2695.

Finding support from the broader market, Ripple’s XRP recovered to $0.2760 levels before easing back.

At the time of writing, Ripple’s XRP was down by 1.33% to $0.26984. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.27372 to a low $0.26939.

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 $0.2750 levels to support a run at the first major resistance level at $0.2819.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.28 levels.

Barring a broad-based crypto rebound, resistance at $0.28 would likely leave Ripple’s XRP short of the first major resistance level at $0.2819.

Failure to move back through to $0.2750 levels could see Ripple’s XRP struggle throughout the day.

A fall back through the Monday’s low $0.26731 would bring the first major support level at $0.2662 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.26 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.2662

Major Resistance Level: $0.2819

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