EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 24/03/20

EOS

EOS rallied by 7.50% on Monday. Reversing a 6.31% slide from Sunday, EOS ended the day at $2.2962.

A mixed start to the day saw EOS slide to an early morning intraday low $2.0632 before making a move.

Steering clear of the first major support level at $2.0243, EOS rallied to an early afternoon intraday high $2.3550.

EOS broke through the first major resistance level at $2.3209 before sliding back to $2.20 levels.

Steering clear of sub-$2.20 levels, EOS found support to visit $2.30 levels before wrapping up the day at $2.29 levels.

The first major resistance level at $2.3209 limited the upside late in the day.

At the time of writing, EOS was up by 0.91% to $2.3170. A mixed start to the day saw EOS fall to an early morning low $2.2821 before striking a high $2.3450.

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

For the day ahead

EOS would need to move through the morning high $2.3450 to bring the first major resistance level at $2.4131 into play.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.3550.

Barring another extended rally, the first major resistance level at $2.4131 would likely limit any upside.

Failure to move through the morning high $2.3450 could see EOS hit reverse.

A fall back through to sub-$2.2400 levels would bring the first major support level at $2.1213 back into play.

Barring another crypto meltdown, however, EOS should steer well clear of $2.00 support levels.

Looking at the Technical Indicators

Major Support Level: $2.1213

Major Resistance Level: $2.4131

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 12.01% on Monday. Reversing a 7.81% slide from Sunday, Ethereum ended the day at $137.0.

A mixed start to the day saw Ethereum fall to an early morning intraday low $119.20 before making a move.

Steering clear of the first major support level at $116.42, Ethereum rallied to an early afternoon intraday high $138.00.

Ethereum broke through the first major resistance level at $132.90 before falling back to $127 levels.

Finding support late on, however, Ethereum broke back through the first major resistance level to end the day at $137.

At the time of writing, Ethereum was down by 1.14% to $135.44. A mixed start to the day saw Ethereum rise to an early morning high $138.58 before falling to a low $134.35.

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

For the day ahead

Ethereum would need to move through to $138 levels to support a run at the first major resistance level at $143.60.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $138.58.

Barring an extended crypto rally, resistance at $140 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $138 levels could see Ethereum fall deeper into the red.

A fall back through to sub-$131.50 levels would bring the first major support level at $124.80 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$120 support levels.

Looking at the Technical Indicators

Major Support Level: $124.80

Major Resistance Level: $143.60

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 7.77% on Monday. Reversing a 6.47% slide from Sunday, Ripple’s XRP ended the day at $0.15929.

A choppy start to the day saw Ripple’s XRP slide to an early morning intraday low $0.1450 before finding support.

Steering clear of the first major support level at $0.1422, Ripple’s XRP rallied to an early afternoon intraday high $0.16233.

Ripple’s XRP broke through the first major resistance level at $0.1578 before falling back to sub-$0.1540 levels.

Finding support late on, Ripple’s XRP broke back through the first major resistance level to wrap up the day at $0.1590 levels.

At the time of writing, Ripple’s XRP was down by 0.02% to $0.15926. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.16209 before falling to a low $0.15893.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through to $0.1600 levels to support a run at the first major resistance level at $0.1661.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.16233.

Barring an extended crypto rally, the first major resistance level at S0.1661 would likely cap any upside.

Failure to move back through to $0.1600 levels could see Ripple’s XRP hit reverse.

A fall back through the morning low $0.15893 to sub-$0.1550 levels would bring the first major support level at $0.1488 into play.

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

Looking at the Technical Indicators

Major Support Level: $0.1488

Major Resistance Level: $0.1661

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