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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 27/03/20

A bullish start to the day saw resistance levels get tested early. Failure to move back through the early highs could test the majors later in the day.
Bob Mason
Coins of crypto currency are presented on a dark background. Virtual money concept.

EOS

EOS rose by 1.35% on Thursday. Partially reversing a 2.08% fall from Wednesday, EOS ended the day at $2.3303.

A bullish start to the day saw EOS rally to an early morning intraday high $2.3420 before hitting reverse.

Falling short of the first major resistance level at $2.3713, EOS slid to a late intraday low $2.2655.

In spite of the reversal, EOS steered clear of the first major support level at $2.2244. Finding support late on, EOS reversed the losses to wrap up the day at $2.33 levels.

At the time of writing, EOS was up by 0.36% to $2.3388. A bullish start to the day saw EOS rise from an early morning low $2.3314 to a high $2.3658.

Steering clear of the major support levels, EOS broke through the first major resistance level at $2.3597 early on.

For the day ahead

EOS would need to break back through the first major resistance level at $2.3597 to bring into $2.40 levels into play.

Support from the broader market would be needed, however, for EOS to break through the second major resistance level at $2.3891.

Barring another extended rally, the first major resistance level and early high $2.3658 would likely limit any upside.

Failure to break back through the first major resistance level could see EOS hit reverse.

A fall back through the morning low $2.3314 to sub-$2.3125 levels would bring the first major support level at $2.2832 into play.

Barring a broad-based crypto sell-off, however, EOS should steer clear of the second major support level at $2.2361.

Looking at the Technical Indicators

Major Support Level: $2.2832

Major Resistance Level: $2.3597

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 rose by 1.94% on Thursday. Reversing a 1.94% loss from Wednesday, Ethereum ended the day at $139.00.

A mixed start to the day saw Ethereum rise to an early morning high $139.00 before hitting reverse.

Falling short of the first major resistance level at $141.87 Ethereum slid to an early afternoon intraday low $133.52.

Steering clear of the first major support level at $131.58, Ethereum rallied to a final hour intraday high $140.36.

While closing out the day in the green, Ethereum came up short of the first major resistance level at $141.87.

At the time of writing, Ethereum was up by 0.29% to $139.40. A bullish start to the day saw Ethereum rise from an early morning low $139.00 to a high $142.50.

Steering clear of the major support levels, Ethereum broke through the first major resistance level at $141.73 early on.

For the day ahead

Ethereum would need to move through to $140 levels to support another run at the first major resistance level at $141.73.

Support from the broader market would be needed, however, for Ethereum to break back through to $140 levels.

Barring a broad-based crypto rally, the first major resistance level at $141.73 and morning high $142.50 would likely limit any upside.

Failure to move through to $140.00 levels could see Ethereum hit reverse.

A fall back through the morning low to sub-$137.60 levels would bring the first major support level at $134.89 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$135 levels.

Looking at the Technical Indicators

Major Support Level: $134.89

Major Resistance Level: $141.73

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 8.97% on Thursday. Following a 0.51% decline on Wednesday, Ripple’s XRP ended the day at $0.17644.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.16308 before hitting reverse.

Falling short of the first major resistance level at $0.1659, Ripple’s XRP fell back to a mid-morning intraday low $0.16010.

Steering clear of the first major support level at $0.1573, Ripple’s XRP moved within a tight range before finding late support.

The breakout saw Ripple’s XRP surge to a final hour intraday high $0.17800. Ripple’s XRP broke through the first major resistance level at $0.1659 and the second major resistance level at $0.1701.

On the day, the third major resistance level at $0.1787 pinned Ripple’s XRP back.

At the time of writing, Ripple’s XRP was up by 0.87% to $0.17798. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.17595 to a high $0.18036.

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 $0.18 levels to support a run at the first major resistance level at $0.1829.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.18036.

Barring an extended crypto rally, the first major resistance level at S0.1829 would likely cap any upside.

Failure to move back through to $0.18 levels could see Ripple’s XRP slide into the red.

A fall back through the morning low to sub-$0.1720 levels would bring the first major support level at $0.1650 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.16 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.1650

Major Resistance Level: $0.1829

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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