EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 16th, 2020

EOS

EOS fell by 0.92% on Tuesday. Reversing a 0.16% gain from Monday, EOS ended the day at $2.7046.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.7876 before hitting reverse.

EOS broke through the first major resistance level at $2.7758 before sliding to an early afternoon low $2.6938.

Steering clear of the first major support level at $2.6882, EOS briefly revisited $2.74 levels before falling back into the red. The late pullback saw EOS fall to an intraday low $2.6920 before recovering to $2.70 levels. In spite of the late reversal, EOS continued to steer clear of the first major support level at $2.6882.

At the time of writing, EOS was down by 0.51% to $2.6908. A bearish start to the day saw EOS fall from an early morning high $2.7073 to a low $2.6894.

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

For the day ahead

EOS would need to move through the $2.7281 pivot level to support a run at the first major resistance level at $2.7641.

Support from the broader market would be needed, however, for EOS to break out from $2.75 levels.

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

Failure to move through the pivot level at $2.7281 would bring the first major support level at $2.6685 into play.

Barring an extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6325 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.6685

Pivot Level: $2.7281

First Major resistance Level: $2.7641

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum slid by 3.46% on Tuesday. Reversing a 2.92% gain from Monday, Ethereum ended the day at $364.2.

Tracking the broader market, Ethereum rose to an early morning intraday high $382.76 before hitting reverse.

Falling short of the first major resistance level at $389.37, Ethereum slid to a late intraday low $362.50.

While steering clear of the first major support level at $360.42, Ethereum fell through the 38.2% FIB of $367.

Finding late support, Ethereum briefly revisited $368 levels before wrapping up the day at $364 levels. The 38.2% FIB pinned Ethereum back late in the day.

At the time of writing, Ethereum was down by 0.88% to $361.01. A bearish start to the day saw Ethereum fall from an early morning high $364.68 to a low $360.71.

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

For the day ahead

Ethereum would need to move through the 38.2% FIB and the $370 pivot to support a run at the first major resistance level at $377.

Support from the broader market would be needed, however, for Ethereum to break out from $375 levels.

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

Failure to move through the 38.2% FIB and the $370 pivot would bring the first major support level at $357 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$350 levels. The second major support level at $350 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $357

Pivot Level: $370

First Major Resistance Level: $377

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.92% on Tuesday. Partially reversing a 1.48% gain from Monday, Ripple’s XRP ended the day at $0.24344.

It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.2490 before hitting reverse.

Coming within range of the first major resistance level at $0.2497, Ripple’s XRP fell to a late morning low $0.24257.

Steering clear of the first major support level at $0.2403, Ripple’s XRP bounced back to $0.248 levels before sliding back into the red.

The late reversal saw Ripple’s XRP fall to a final hour intraday low $0.24241. In spite of the pullback, Ripple’s XRP continued to avoid the first major support level at $0.2403, however.

At the time of writing, Ripple’s XRP was down by 1.04% to $0.24091. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.24284 to a low $0.24069.

Ripple’s XRP fell through the first major support level at $0.2409 early on.

For the day ahead

Ripple’s XRP will need to move through the $0.2450 pivot to support a run at the first major resistance level at $0.2475.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2450 levels.

Barring an extended crypto rally, the first major resistance level would likely leave Ripple’s XRP short of $0.25 levels.

Failure to move through the $0.2450 pivot would bring the first major support level at $0.2409 back into play.

Barring an extended crypto sell-off, Ripple’s XRP should continue to steer clear of sub $0.2350 levels. The second major support level at $0.2384 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2409

Pivot Level: $0.2450

First Major Resistance Level: $0.2475

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