EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 10th, 2020

EOS

EOS fell by 0.50% on Wednesday. Following on from a 3.26% slide on Tuesday, EOS ended the day at $2.7547.

It was a bearish start to the day. EOS fell to an early morning intraday low $2.6931 before making a move.

Steering clear of the first major support level at $2.6548, EOS rallied to an early afternoon intraday high $2.8192.

Falling short of the first major resistance level at $2.8687, EOS fell back to sub-$2.80 levels and into the red.

At the time of writing, EOS was up by 0.33% to $2.7638. A mixed start to the day saw EOS fall to an early morning low $2.7492 before rising to a high $2.7657.

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

For the day ahead

EOS would need to avoid a fall back through the $2.7557 pivot level to support a run at the first major resistance level at $2.8183.

Support from the broader market would be needed, however, for EOS to break back through to $2.80 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2.8193 would likely cap any upside.

Failure to avoid a fall back through the pivot level at $2.7557 would bring the first major support level at $2.6921 into play.

Barring another extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6295 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.6921

Pivot Level: $2.7557

First Major resistance Level: $2.8183

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rallied by 4.04% on Wednesday. Reversing most of a 4.59% slide from Tuesday, Ethereum ended the day at $351.10.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $330.60 before finding support.

Steering clear of the first major support level at $322.89, Ethereum rallied to a late intraday high $359.41.

Ethereum broke through the first major resistance level at $354.54 before easing back to $350 levels.

Other attempts late in the day to break through to $360 levels also failed. The first major resistance levels and resistance at $360 pinned Ethereum back on the day.

At the time of writing, Ethereum was up by 0.40% to $352.42. A bullish start to the day saw Ethereum rise from an early morning low $350.23 to a high $343.07.

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

For the day ahead

Ethereum would need to avoid a fall through the $347.04 pivot to support a run at the first major resistance level at $363.47.

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 $347.04 pivot would bring the first major support level at $334.66 into play.

Barring an extended sell-off, however, Ethereum should continue to avoid sub-$300 levels. The second major support level at $318.23 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $334.66

Pivot Level: $347.04

First Major Resistance Level: $363.47

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 1.11% on Wednesday. Partially reversing a 2.42% decline from Tuesday, Ripple’s XRP ended the day at $0.23918.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.23319 before making a move.

Steering clear of the first major support level at $0.2307, Ripple’s XRP rallied to a late intraday high $0.24302.

Coming up against the first major resistance level at $0.2430, Ripple’s XRP fell back to sub-$0.24 levels late in the day.

At the time of writing, Ripple’s XRP was up by 0.24% to $0.23976. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23903 to a high $0.23976.

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 $0.2385 pivot to support a run at the first major resistance level at $0.2437.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.24302.

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

Failure to avoid a fall through the $0.2385 pivot would bring the first major support level at $0.2339 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.22 levels. The second major support level at $0.2286 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2339

Pivot Level: $0.2385

First Major Resistance Level: $0.2437

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

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