EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 19th, 2020

EOS

EOS fell slid by 1.86% on Friday. Reversing a 0.96% gain from Thursday, EOS ended the day at $2.6891.

It was a mixed start to the day. EOS slipped to an early morning low $2.7144 before striking a late morning intraday high $2.7598.

Falling short of the first major resistance level at $2.7797, EOS fell to a late afternoon intraday low $2.6501

EOS fell through the first major support level at $2.6945 to find support at the second major support level at $2.6505.

Off the back of the late support, EOS briefly revisited $2.69 levels before wrapping up the day at $2.68 levels. The first major support level at $2.6945 pinned EOS back late in the day.

At the time of writing, EOS was down by 0.22% to $2.6833. A bearish start to the day saw EOS fall from an early morning high $2.6928 to a low $2.6799.

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

For the day ahead

EOS would need to move through the $2.6997 pivot level to support a run at the first major resistance level at $2.7492.

Support from the broader market would be needed, however, for EOS to break out from $2.70 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $2.7598 would likely cap any upside.

Failure to move through the pivot level at $2.6997 would bring the first major support level at $2.6395 into play.

Barring an extended sell-off, however, EOS should steer of the second major support level at $2.5900.

Looking at the Technical Indicators

First Major Support Level: $2.6395

Pivot Level: $2.6997

First Major resistance Level: $2.7492

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum fell by 1.25% on Friday. Partially reversing a 6.63% rally from Thursday, Ethereum ended the day at $384.64.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $392.69 before hitting reverse.

Falling short of the first major resistance level at $401.53, Ethereum slid to a late afternoon intraday low $375.19.

Steering clear of the first major support level at $370.38, Ethereum broke back through to $384 levels to limit the loss.

At the time of writing, Ethereum was down by 0.32% to $383.39. A bearish start to the day saw Ethereum fall from an early morning high $384.71 to a low $382.59.

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

For the day ahead

Ethereum would need to move through the $384.17 pivot to support a run at the first major resistance level at $393.16.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

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

Failure to move through the $384.17 pivot would bring the first major support level at $375.66 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The 38.2% FIB of $367 and the second major support level at $366.67 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $375.66

Pivot Level: $384.17

First Major Resistance Level: $393.16

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 0.49% on Friday. Partially reversing a 2.07% gain from Thursday, Ripple’s XRP ended the day at $0.25081.

It was a mixed start to the day. Ripple’s XRP slipped to an early morning low $0.25061 before making a move.

Avoiding sub-$0.25 levels and the major support levels, Ripple’s XRP rallied to a mid-morning intraday high $0.25502.

Falling short of the first major resistance level at $0.2584, Ripple’s XRP slid to a late afternoon intraday low $0.24662.

Finding support at the first major support level at $0.2461, Ripple’s XRP revisited $0.2510 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.40% to $0.24981. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25072 to a low $0.24934.

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 the $0.2508 pivot to support a run at the first major resistance level at $0.2550.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.255 levels.

Barring an extended crypto rally, the first major resistance level and Friday high $0.25502 would likely limit any upside.

Failure to move through the $0.2508 pivot would bring the first major support level at $0.2466 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.24 levels. The second major support level at $0.2424 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2466

Pivot Level: $0.2508

First Major Resistance Level: $0.2550

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