EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 11/03/20

EOS

EOS rose by 0.29% on Tuesday. Following on from a 0.36% gain on Monday, EOS ended the day at $3.0816.

A mixed start to the day saw EOS fall to a mid-morning low $3.0201 before striking a mid-day intraday high $3.1673.

Falling short of the first major resistance level at $3.2143, EOS slid to a mid-afternoon intraday low $3.0009.

Steering clear of the first major support level at $2.8492, EOS struck $3.11 levels late on before easing back.

At the time of writing, EOS was up by 0.39% to $3.0936. A mixed start to the day saw EOS rise to an early morning high $3.1204 before falling to a low $3.0747.

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

For the day ahead

EOS would need to move back through to $3.10 levels to bring the first major resistance level at $3.1656 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $3.1204.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside on the day.

Failure to move back through to $3.10 levels could see EOS fall back into the red.

A fall back through to sub-$3.08 levels would bring the first major support level at $2.9992 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.80 levels. The second major support level at $2.9169 would likely limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.9992

Major Resistance Level: $3.1656

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.11% on Tuesday. Partially reversing a 1.63% gain from Monday, Ethereum ended the day at $200.50.

Tracking the broader market, Ethereum fell to a mid-morning low $197.25 before striking a mid-day intraday high $206.28.

Falling short of the first major resistance level at $211, Ethereum slid to a mid-afternoon intraday low $195.17.

Steering clear of the first major support level at $192.20, Ethereum recovered to $200 levels to limit the day’s loss.

At the time of writing, Ethereum was down by 0.33% to $199.83. A mixed start to the day saw Ethereum rise to an early morning high $202.98 before falling to a low $198.32.

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

For the day ahead

Ethereum would need to move back through to $201 levels to support a run at the first major resistance level at $206.13.

Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $202.98

Barring a broad-based crypto rally, the first major resistance level at $206.13 would likely cap any upside.

Failure to move back through to $201 levels could see Ethereum fall deeper into the red.

A fall back through the morning low $198.32 would bring the first major support level at $195.02 into play.

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

Looking at the Technical Indicators

Major Support Level: $195.02

Major Resistance Level: $206.13

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 1.16% on Tuesday. Following on from a 2.70% rally on Monday, Ripple’s XRP ended the day at $0.21258.

A mixed start to the day saw Ripple’s XRP fall to a mid-morning low $0.20611 before striking a mid-day intraday high $0.21629.

Ripple’s XRP broke through the first major resistance level at $0.2158 before sliding to a mid-afternoon intraday low $0.20611.

Steering clear of the first major support level at $0.2021, Ripple’s XRP bounced back to $0.21 levels and into the green.

At the time of writing, Ripple’s XRP down by 0.53% to $0.21146. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.21416 before falling to a low $0.21020.

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 $0.2120 levels to support a run at the first major resistance level at $0.2172.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.21629.

Barring a broad-based crypto rally, the first major resistance level will likely limit any upside.

Failure to move back through to $0.2120 levels could see Ripple’s XRP fall deeper into the red.

A fall back through to sub-$0.21 levels would bring the first major support level at $0.2070 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.20 levels. The second major support level at $0.2015 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.2070

Major Resistance Level: $0.2172

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