EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 10/01/20
EOS
EOS fell by 0.96% on Thursday. Following on from a 2.72% slide on Wednesday, EOS ended the day at $2.7459.
A mixed start to the day saw EOS rise to an early morning intraday high $2.7956 before hitting reverse.
Falling well short of the first major resistance level at $2.9358, EOS slid to a late afternoon intraday low $2.6943.
Steering clear of the first major support level at $2.6606, EOS found support to move back to $2.7 levels to limit the loss on the day.
At the time of writing, EOS was down by 0.18% to $2.7409. A mixed start to the day saw EOS rise to an early morning high $2.7572 before falling to a low $2.7349.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $2.7450 levels to support a run at the first major resistance level at $2.7962.
Support from the broader market would be needed, however, for EOS to breakout from Thursday’s high $2.7956.
Barring an extended broad-based crypto rally, the first major resistance level, and Thursday’s high would likely limit any upside on the day.
Failure to move through to $2.7450 levels could see EOS fall deeper into the red. A fall through the morning low to $2.72 levels would bring the first major support level at $2.6949 into play.
Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.6440.
Looking at the Technical Indicators
Major Support Level: $2.6949
Major Resistance Level: $2.7962
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 2.08% on Thursday. Following on from a 1.73% decline on Wednesday, Ethereum ended the day at $137.71.
Tracking the broader market, Ethereum rose to an early morning intraday high $141.38 before hitting reverse.
Falling short of the first major resistance level at $146.72, Ethereum slid to a late afternoon intraday low $135.12.
The reversal saw Ethereum fall through the first major support level at $135.75 before finding support.
A late move back through to $139 levels was brief, however, with Ethereum wrapping up the day at $137 levels.
At the time of writing, Ethereum was down by 0.62% to $136.84. A mixed start to the day saw Ethereum rise to an early morning high $137.91 before falling to a low $136.82.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $138 levels to support a run at the first major resistance level at $141.02.
Support from the broader market would be needed for Ethereum to break out from the morning high to $140 levels.
Barring a broad-based crypto rally, however, the first major resistance level and Thursday’s high $141.38 would likely limit any upside.
Failure to move through to $138 levels could see Ethereum struggle throughout the day.
A fall through the morning low to $135 levels would bring the first major support level at $134.76 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of the second major support level at $131.81.
Looking at the Technical Indicators
Major Support Level: $134.76
Major Resistance Level: $141.02
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 1.66% on Thursday. Following on from a 2.88% slide on Wednesday, Ripple’s XRP ended the day at $0.20378.
Early on, Ripple’s XRP rose to an early morning intraday high $0.20867 before coming under pressure.
Falling short of the first major resistance level at $0.2163, Ripple’s XRP slid to a late intraday low $0.20113.
In spite of the reversal, Ripple’s XRP steered clear of the first major support level at $0.20090.
Late in the day, a move back through to $0.2030 levels was brief, with Ripple’s XRP spending another day deep in the red.
At the time of writing, Ripple’s XRP was down by 0.55% to $0.20265. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20465 before falling to a low $0.20254.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move back through to $0.2050 levels to support a run at the first major resistance level at $0.20790.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.20465.
Barring an extended rally through the day, the first major resistance level at $0.2163 would likely pin Ripple’s XRP back from $0.21 levels.
Failure to move back through to $0.2050 levels could see Ripple’s XRP slide deeper into the red.
A fall through the morning low $0.20254 would bring the first major support level at $0.20040 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of the second major support level at $0.1970.
Looking at the Technical Indicators
Major Support Level: $0.20040
Major Resistance Level: $0.20790
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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