EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 7th, 2020

EOS

EOS fell by 1.16% on Sunday. Following on from a 2.02% decline on Saturday, EOS ended the week down by 10.64% to $2.9047.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.8120 before making a move.

Steering clear of the first major support level at $2.7518, EOS struck a late morning intraday high $3.0344 before hitting reverse.

Falling short of the first major resistance level at $3.1414, EOS fell back to sub-$2.93 levels to end the day in the red.

At the time of writing, EOS was up by 0.19% to $2.9102. A mixed start to the day saw EOS fall to an early morning low $2.8984 before rising to a high $2.9135

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

For the day ahead

EOS would need to move through the $2.9170 pivot level to support a run at the first major resistance level at $3.0221.

Support from the broader market would be needed, however, for EOS to break back through to $3.00 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $3.0344 would likely cap any upside.

Failure to move through the pivot level at $2.9170 would bring the first major support level at $2.7997 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$2.70 levels. The second major support level sits at $2.6946.

Looking at the Technical Indicators

First Major Support Level: $2.7997

Pivot Level: $2.9170

First Major resistance Level: $3.0221

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rallied by 5.23% on Sunday. Partially reversing a 13.69% slide from Saturday, Ethereum ended the week down by 17.75% to $352.77.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $316.43 before making a move.

Steering clear of the first major support level at $298.71, Ethereum rallied to a late intraday high $360.61.

Falling short of the first major resistance level at $383.09, Ethereum eased back to end the day at sub-$360 levels.

At the time of writing, Ethereum was up by 0.32% to $353.89. A mixed start to the day saw Ethereum fall to an early morning low $352.19 before rising to a high $354.13.

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

For the day ahead

Ethereum would need to avoid a fall through the $343.27 pivot to support a run at the 38.2% FIB of $367 and the first major resistance level at $370.11

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $360.61.

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

Failure to avoid a fall through the $343.27 pivot would bring the first major support level at $326 into play.

Barring an extended sell-off, however, Ethereum should avoid sub-$300 levels. The second major support level sits at $299.09.

Looking at the Technical Indicators

First Major Support Level: $326.00

Pivot Level: $343.27

First Major Resistance Level: $370.11

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 1.15% on Sunday. Partially reversing a 2.74% decline from Saturday, Ripple’s XRP ended the week down by 15.24% to $0.23716.

Tracking the broader market, Ripple’s XRP fell to a mid-morning intraday low $0.22967 before making a move.

Steering clear of the first major support level at $0.2256, Ripple’s XRP rallied to a mid-day intraday high $0.24328.

Falling short of the first major resistance level at $0.2544, Ripple’s XRP slid to an early afternoon low $0.23458.

Continuing to steer clear of the first major support level at $0.2256, Ripple’s XRP recovered to end the day at $0.24 levels.

At the time of writing, Ripple’s XRP was up by 0.72% to $0.24151. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.23948 before rising to a high $0.24161.

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 $0.2376 pivot to support a run at the first major resistance level at $0.2456.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.24328.

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

Failure to avoid a fall through the $0.2376 pivot would bring the first major support level at $0.2319 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels. The second major support level sits at $0.2240.

Looking at the Technical Indicators

First Major Support Level: $0.2319

Pivot Level: $0.2376

First Major Resistance Level: $0.2456

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