EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 8th, 2020

EOS

EOS slid by 2.05% on Monday. Following on from a 1.16% loss on Sunday, EOS ended the day at $2.8437.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.9416 before hitting reverse.

Falling short of the first major resistance level at $3.0221, EOS slid to a mid-day intraday low $2.6562.

EOS fell through the first major support level at $2.7997 and the second major support level at $2.6946.

Finding afternoon support, EOS broke back through the support levels to revisit $2.89 levels before easing back.

At the time of writing, EOS was down by 0.05% to $2.8522. A mixed start to the day saw EOS rise to an early morning high $2.8603 before falling to a low $2.8489.

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

For the day ahead

EOS would need to avoid a fall through the $2.8138 pivot level to support a run at the first major resistance level at $2.9715.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.9416.

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

Failure to avoid a fall through the pivot level at $2.8138 would bring the first major support level at $2.6861 into play.

Barring another extended sell-off, however, EOS should steer well clear of sub-$2.60 levels. The second major support level sits at $2.5284.

Looking at the Technical Indicators

First Major Support Level: $2.6861

Pivot Level: $2.8138

First Major resistance Level: $2.9715

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rose by 0.24% on Monday. Following a 5.23% rally on Sunday, Ethereum ended the day at $353.71.

It was also a mixed start to the day. Ethereum rose to an early morning intraday high $358.66 before hitting reverse.

Falling short of the first major resistance level at $370.11, Ethereum slid to a mid-day intraday low $323.17.

Ethereum fell through the first major support level at $325.93 before revisiting $355 levels late in the day.

In spite of a late pullback, however, Ethereum avoided a return to the red.

At the time of writing, Ethereum was up by 0.21% to $354.46. It was a mixed start to the day. Ethereum rose to an early morning high $355.19 before falling to a low $353.64.

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

http://finance.yahoo.com/

For the day ahead

Ethereum would need to avoid a fall through the $345.18 pivot to support a run at the first major resistance level at $367.19 and the 38.2% FIB of $367.

Support from the broader market would be needed, however, for Ethereum to break back through to $360 levels.

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

Failure to avoid a fall through the $345.18 pivot would bring the first major support level at $331.70 into play.

Barring an extended sell-off, however, Ethereum should continue to avoid sub-$300 levels. The second major support level at $309.69 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $331.70

Pivot Level: $345.18

First Major Resistance Level: $367.19

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 1.02% on Monday. Following on from a 1.15% gain on Sunday, Ripple’s XRP ended the day at $0.24207.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.24276 before hitting reverse.

Falling short of the first major resistance level at $0.2456, Ripple’s XRP slid to a mid-day intraday low $0.2300.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2319 before support kicked in.

Finding support at $0.23, Ripple’s XRP bounced back to a late intraday high 0.24294 before easing back.

In spite of the late high, Ripple’s XRP came up short of the first major resistance level at $0.2456 for a 2nd time.

At the time of writing, Ripple’s XRP was up by 0.10% to $0.24230. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.24262 before falling to a low $0.24230.

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

http://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2383 pivot to support a run at the first major resistance level at $0.2467.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.24276.

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

Failure to avoid a fall through the $0.2383 pivot would bring the first major support level at $0.2337 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2254.

Looking at the Technical Indicators

First Major Support Level: $0.2337

Pivot Level: $0.2383

First Major Resistance Level: $0.2467

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

This article was originally posted on FX Empire

More From FXEMPIRE: