EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 14th, 2020
In This Article:
EOS
EOS fell by 2.69% on Sunday. Reversing a 0.60% gain from Saturday, EOS ended the week down by 6.09% to $2.7263.
It was a mixed start to the day. EOS recovered from an early morning low $2.7808 to strike an early morning intraday high $2.8334 before hitting reverse.
Falling short of the first major resistance level at $2.8435, EOS slid to a late afternoon intraday low $2.6716.
EOS fell through the first major support level at $2.7551 and the second major support level at $2.7040.
Finding late support, however, EOS broke back through the second major support level to wrap up the day at $2.72 levels.
At the time of writing, EOS was down by 0.68% to $2.7079. A mixed start to the day saw EOS rise to an early morning high $2.7305 before falling to a low $2.6814.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through the $2.7438 pivot level to support a run at the first major resistance level at $2.8159.
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 would likely cap any upside.
Failure to move through the pivot level at $2.7438 would bring the first major support level at $2.6541 into play.
Barring another extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level sits at $2.5820 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2.6541
Pivot Level: $2.7438
First Major resistance Level: $2.8159
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Ethereum
Ethereum slid by 5.48% on Sunday. Reversing a 3.71% gain from Saturday, Ethereum ended the week up by 3.89% to $366.58.
It was a mixed start to the day. Ethereum rose to an early morning intraday high $390.41 before hitting reverse.
Falling short of the first major resistance level at $395.75, Ethereum slid to a late afternoon intraday low $353.58.
Ethereum fell through the first major support level at $372.38 and the second major support level at $356.94. More significantly, Ethereum also fell through the 38.2% FIB of $367.
Finding late support, Ethereum moved back through the second major support level to wrap up the day at $366 levels. The 38.2% FIB of $367 pinned Ethereum back late in the day.
At the time of writing, Ethereum was down by 1.34% to $361.65. A bearish start to the day saw Ethereum fall from an early morning high $366.58 to a low $355.66.
Ethereum left the major support and resistance levels untested early on.