EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 26/03/20
In This Article:
EOS
EOS fell by 2.08% on Wednesday. Reversing a 2.24% gain from Tuesday, EOS ended the day at $2.2965.
A choppy start to the day saw EOS rally to a late morning intraday high $2.3740 before hitting reverse.
Falling short of the first major resistance level at $2.3938, EOS slid to a late morning intraday low $2.2271.
The reversal saw EOS fall through the first major support level at $2.2938 and the second major support level at $2.2380.
Finding support in the early afternoon, EOS recovered to $2.31 levels before falling back to sub-$2.30 levels.
At the time of writing, EOS was up by 0.86% to $2.3163. A mixed start to the day saw EOS rise to an early morning high $2.3410 before falling to a low $2.993.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through the morning high $2.3410 to bring the first major resistance level at $2.3713 into play.
Support from the broader market would be needed, however, for EOS to break out from $2.34 levels.
Barring another extended rally, the first major resistance level at $2.3713 would likely limit any upside.
Failure to move back through to $2.34 levels could see EOS hit reverse.
A fall back through the morning low $2.2993 would bring the first major support level at $2.2244 back into play.
Barring another crypto meltdown, however, EOS should steer clear of the second major support level at $2.1523.
Looking at the Technical Indicators
Major Support Level: $2.2244
Major Resistance Level: $2.3713
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 1.94% on Wednesday. Reversing a 1.46% gain from Tuesday, Ethereum ended the day at $136.26.
A mixed start to the day saw Ethereum rise to a late morning intraday high $142.79 before hitting reverse.
Falling short of the first major resistance level at $144.43 Ethereum slid to a late morning low $132.92.
The reversal saw Ethereum fall through the first major support level at $133.31 before recovering to $138 levels.
A 2nd sell-off late in the day, however, saw Ethereum slide back through the first major support level to an intraday low $132.50.
Finding support late on, Ethereum recovered to $136 levels to limit the downside on the day.
At the time of writing, Ethereum was up by 0.18% to $136.51. A mixed start to the day saw Ethereum rise to an early morning high $138.19 before falling to a low $135.42.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $137.20 levels to support a run at the first major resistance level at $141.87.