EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 13/03/20

EOS

EOS tumbled by 42.21% on Thursday. Following a 0.15% gain on Wednesday, EOS ended the day at $1.782.

A particularly bearish start to the day saw EOS fell from an early morning intraday high $3.0969 to a late morning low $1.8258.

EOS fell through the major support levels before briefly returning to $2.30 levels.

Falling short of the third major support level at $2.4956, EOS slid to a final hour intraday low $1.6900.

At the time of writing, EOS was up by 0.42% to $1.7895. A choppy start to the day saw EOS slide to an early low and new swing low $1.42 before striking a high $2.0535.

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

For the day ahead

EOS would need to move back through to $2.20 levels to bring the first major resistance level at $2.6893 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.0535.

Barring a broad-based crypto rally, resistance at $2.00 would likely leave EOS short of the first major resistance level.

Failure to move back through to $2.20 levels could see EOS fall back into the red.

A fall back through the morning low $1.4200 would bring the first major support level at $1.2824 into play.

Barring an extended crypto meltdown, however, EOS should steer clear of sub-$1.00 levels.

Looking at the Technical Indicators

Major Support Level: $1.2824

Major Resistance Level: $2.6893

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slumped by 43.33% on Thursday. Following a 3.00% slide on Wednesday, Ethereum ended the day at $110.3.

Tracking the broader market, Ethereum fell from an early morning intraday high $195.64 to a late morning low $126.28.

Ethereum fell through the major support levels before briefly recovering to $151 levels.

Ethereum broke back through the third major support level at $148.90 before tumbling to a final hour intraday low $101.22.

The sell-off saw Ethereum fall back through the third major support level to join the pack in the deep red.

At the time of writing, Ethereum was up by 5.29% to $116.14. A mixed start to the day saw Ethereum slide to an early morning low $90.00 before striking a high $148.00.

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

For the day ahead

Ethereum would need to move back through to $136 levels to support a run at the first major resistance level at $170.22.

Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $148.00.

Barring a broad-based crypto rally, resistance at $150 would likely leave Ethereum short of the first major resistance level.

Failure to move back through to $136 levels could see Ethereum hit reverse.

A fall back through the morning low $90 would bring the first major support level at $75.80 into play.

Barring an extended crypto sell-off, however, Ethereum should avoid a return to sub-$100 levels.

Looking at the Technical Indicators

Major Support Level: $75.80

Major Resistance Level: $170.22

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 34.42% on Thursday. Following on from a 1.45% decline on Wednesday, Ripple’s XRP ended the day at $0.13740.

Bearish through the day, Ripple’s XRP slid from an early morning intraday high $0.21095 to a final hour intraday low and new swing lo $0.12825.

The reversal saw Ripple’s XRP slide through the day’s major support levels. A brief return to $0.17 levels in the early afternoon failed to hold, with Ripple’s XRP coming up short of the third major support level at $0.1798.

At the time of writing, Ripple’s XRP was up by 2.02% to $0.14018. A mixed start to the day saw Ripple’s XRP fall to an early morning low and new swing lo $0.11004 before finding support.

Steering clear of the first major support level at $0.1068, Ripple’s XRP struck a morning high $0.15600. Ripple’s XRP fell short of the first major resistance level at $0.1895 before easing back.

For the day ahead

Ripple’s XRP will need to move back through the morning high to $0.1590 levels to support a run at the first major resistance level at $0.1895.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.15 levels.

Barring a broad-based crypto rally, resistance at S0.16 would likely limit any upside.

Failure to move back through to $0.1590 levels could see Ripple’s XRP fall back into the red.

A fall back through to sub-$0.1200 levels would bring the first major support level at $0.1068 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.11 levels later in the day.

Looking at the Technical Indicators

Major Support Level: $0.1068

Major Resistance Level: $0.1895

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