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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 14/03/20

It’s a bearish start to the day for the majors. A move through Friday’s highs would signal another breakout later in the day.
Bob Mason
cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

EOS

EOS rallied by 19.46% on Friday. Partially reversing a 42.21% tumble from Thursday, EOS ended the day at $2.1243.

A particularly bearish start to the day saw EOS tumble to an early morning intraday low and new swing low $1.4200.

Steering clear of the major support levels, EOS bounced back to an early afternoon intraday high $2.2494.

Falling short of the major resistance levels, EOS fell back to $1.7 levels before finding late support.

At the time of writing, EOS was down by 3.03% to $2.0600. A bearish start to the day saw EOS fall from an early morning high $2.1272 to a low $2.0310.

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

For the day ahead

EOS would need to move back through to $2.10 levels to bring the first major resistance level at $2.4425 into play.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.2494.

Barring a broad-based crypto rebound, the first major resistance level at $2.4425 would likely cap any upside.

Failure to move back through to $2.10 levels could see EOS fall deeper into the red.

A fall back through the morning low to sub-$1.9300 levels would bring the first major support level at $1.6131 into play.

Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $1.1018.

Looking at the Technical Indicators

Major Support Level: $1.6131

Major Resistance Level: $2.4425

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

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Ethereum

Ethereum rallied by 22.86% on Friday. Partially reversing a 43.33% slump from Thursday, Ethereum ended the day at $135.51.

Tracking the broader market, Ethereum fell to an early morning intraday low $90 before finding support.

Steering clear of the first major support level at $75.80, Ethereum bounced back to an early morning intraday high $148.00.

Falling short of the first major resistance level at $170.22, Ethereum fell back to sub-$110 levels before finding support.

Ethereum moved back through to $130 levels to deliver the upside on the day. The upside came in spite of a choppy afternoon that saw Ethereum revisit $115 levels…

At the time of writing, Ethereum was down by 1.50% to $133.48. A bearish start to the day saw Ethereum fall from an early morning high $135.90 to a low $130.50.

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

For the day ahead

Ethereum would need to move back through the morning high $135.90 to support a run at the first major resistance level at $159.01.

Support from the broader market would be needed, however, for Ethereum to breakout from Friday’s 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 the morning high could see Ethereum struggle throughout the day.

A fall back through the morning low $130.50 to sub-$124.50 levels would bring the first major support level at $101.01 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: $101.01

Major Resistance Level: $159.01

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 15.33% on Friday. Partially reversing a 34.42% slide from Thursday, Ripple’s XRP ended the day at $0.15969.

A bearish start saw Ripple’s XRP tumble to an early morning intraday low and new swing lo $0.11004.

Steering clear of the first major support level at $0.1068, Ripple’s XRP rallied to an early afternoon intraday high $0.16759.

Falling short of the first major resistance level at $0.1895, Ripple’s XRP fell back to $0.137 levels before finding support.

Late in the day, Ripple’s XRP moved back through to $0.16 levels before easing back.

At the time of writing, Ripple’s XRP was down by 1.85% to $0.15674. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.15983 to a low $0.15425.

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 the morning high to $0.16 levels to support a run at the first major resistance level at $0.1815.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.16759.

Barring a broad-based crypto rally, resistance at S0.17 would likely limit any upside.

Failure to move back through to $0.16 levels could see Ripple’s XRP fall deeper into the red.

A fall back through to sub-$0.1460 levels would bring the first major support level at $0.1240 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels later in the day.

Looking at the Technical Indicators

Major Support Level: $0.1240

Major Resistance Level: $0.1815

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

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