EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 14th, 2020

EOS

EOS rose by 3.74% on Thursday. Following on from a 0.69% gain from Wednesday, EOS ended the day at $3.1394.

It was a mixed start to the day. EOS rose to an early morning high $3.0752 before hitting reverse.

Falling short of the first major resistance level at $3.0930, EOS slid to a late morning intraday low $2.9158.

EOS fell through the first major support level at $2.9202 before finding support going into the 2^nd half of the day.

Through the 2^nd half, EOS rallied to a late intraday high $3.1677 before pulling back. EOS broke through the first major resistance level at $3.0930 and the second major resistance level at $3.1604.

The pullback saw EOS fall back through the second major resistance level to wrap up the day at $3.13 levels.

At the time of writing, EOS was up by 0.39% to $3.1516. A bullish start to the day saw EOS rise from an early morning low $3.1402 to a high $3.1685.

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

For the day ahead

EOS would need to avoid a fall through the $3.0743 pivot level to support a run at the first major resistance level at $3.2328.

Support from the broader market would be needed, however, for EOS to break through to $3.20 levels.

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

A fall through the $3.0743 pivot would bring the first major support level at $2.9809 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$2.90 levels. The second major support level sits at $2.8224.

Looking at the Technical Indicators

First Major Support Level: $2.9809

Pivot Level: $3.0743

First Major Resistance Level: $3.2328

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum surged by 9.73% on Thursday. Following on from a 2.20% gain from Wednesday, Ethereum ended the day at $424.94.

A mixed start to the day saw Ethereum rise to an early morning high $396.27 before hitting reverse.

Coming up against the first major resistance level at $396.16, Ethereum slid to a late morning intraday low $376.46.

Steering clear of the first major support level at $371.78, Ethereum found support going into the 2^nd half of the day.

Through the 2^nd half, Ethereum jumped to a late intraday high $432.94. Ethereum broke through day’s major resistance levels before easing back through the third major resistance level at $429.44.

At the time of writing, Ethereum was up by 0.65% to $427.7. A bullish start to the day saw Ethereum rise from an early morning low $424.99 to a high $429.75.

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

For the day ahead

Ethereum would need to avoid a fall through the $411.45 pivot to support a run at the first major resistance level at $446.43.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $432.94.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $411.45 pivot would bring the first major support level at $390.00 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level sits at $355.00.

Looking at the Technical Indicators

First Major Support Level: $390.00

Pivot Level: $411.45

First Major Resistance Level: $446.43

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 4.51% on Thursday. Reversing a 0.21% decline on Wednesday, Ripple’s XRP ended the day at $0.29507.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.28587 before hitting reverse.

Falling short of the first major resistance level at $0.2892, Ripple’s XRP fell to a late morning intraday low $0.27282.

Ripple’s XRP fell through the first major support level at $0.2737 before finding support.

Through the 2^nd half, Ripple’s XRP rallied to a late intraday high $0.29570.

Ripple’s XRP broke through the first major resistance level at $0.2892 to wrap up the day at $0.29 levels.

At the time of writing, Ripple’s XRP was up by 1.32% to $0.29896. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.29491 to a high $0.29896.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2879 pivot to support a run at the first major resistance level at $0.3029.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.

Barring a broad-based crypto rally, the first major resistance level should cap any upside.

A fall through the $0.2879 pivot would bring the first major support level at $0.2800 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels on the day.

Looking at the Technical Indicators

First Major Support Level: $0.2800

Pivot Level: $0.2879

First Major Resistance Level: $0.3029

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