EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 31/03/20

EOS

EOS rallied by 5.27% on Monday. Reversing a 4.04% slide from Sunday, EOS ended the day at $2.2331.

Bullish throughout the day, EOS rallied from an early morning intraday low $2.1158 to a late intraday high $2.2852.

EOS broke through the first major resistance level at $2.1942 and the second major resistance level at $2.2652.

A late pullback, however, saw EOS fall back through the second major resistance level to limit the upside on the day.

At the time of writing, EOS was down by 0.65% to $2.2186. A mixed start to the day saw EOS rise to an early morning high $2.2614 before falling to a low $2.2080.

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

For the day ahead

EOS would need to move through the morning high $2.2614 to support a run at the first major resistance level at $2.3069.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.2852.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

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

A fall back through to sub-$2.21 levels would bring the first major support level at $2.1375 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.00 levels. The second major support level at $2.0420 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.1375

Major Resistance Level: $2.3069

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 6.34% on Monday. Reversing a 5.34% slide from Sunday, Ethereum ended the day at $132.32.

Tracking the broader market, Ethereum rallied from an early morning intraday low $124.05 to a late intraday high $135.48.

Ethereum broke through the first major resistance level at $129.78 to come up against the second major resistance level at $135.21.

A late pullback limited the upside on the day.

At the time of writing, Ethereum was up by 0.52% to $131.63. A mixed start to the day saw Ethereum rise to an early morning high $134.33 before falling to a low $131.00.

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

For the day ahead

Ethereum would need to move back through to $134 levels to support a run at the first major resistance level at $137.17.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $135.48.

Barring an extended crypto rally, the first major resistance level at $137.18 would likely limit any upside.

Failure to move back through the morning high to $134 levels could see Ethereum struggle later in the day.

A fall through to sub-$130 levels would bring the first major support level at $125.75 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $119.19.

Looking at the Technical Indicators

Major Support Level: $125.75

Major Resistance Level: $137.18

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 5.22% on Sunday. Partially reversing a 7.34% slide from Sunday, Ripple’s XRP ended the day at $0.17151.

A bullish start saw Ripple’s XRP rally from an early morning intraday low $0.16300 to a late morning intraday high $0.17620.

Ripple’s XRP broke through the first major resistance level at $0.1727 before falling back to $0.1710 levels.

Late in the day, a 2^nd rally saw Ripple’s XRP break back through the first major resistance level before a pullback to sub-$0.1720 levels.

At the time of writing, Ripple’s XRP was up by 0.29% to $0.17200. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.17382 before falling to a low $0.17126.

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 $0.17382 to support a run at the first major resistance level at $0.1775.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.1762.

Barring an extended crypto rally, the first major resistance level at $0.1775 would likely leave Ripple’s XRP short of $0.18 levels.

Failure to move back through the morning high $0.17382 could see Ripple’s XRP hit reverse

A fall back through to sub-$0.17 levels would bring the first major support level at $0.1643 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: $0.1643

Major Resistance Level: $0.1775

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