EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 17/03/20
EOS
EOS slid by 7.21% on Monday. Reversing a 3.90% gain from Sunday, EOS ended the day at $1.9038.
A mixed start to the day saw EOS rise to an early morning intraday high $2.0577 before hitting reverse.
Falling short of the first major resistance level at $2.1567, EOS tumbled to a late morning intraday low $1.7213.
EOS fell through the first major support level at $1.9517 and the second major support level at $1.8509.
Finding support in the afternoon, EOS recovered to $1.95 levels before easing back.
At the time of writing, EOS was up by 2.91% to $1.9592. A bullish start to the day saw EOS rise from an early morning low $1.8808 to a high $2.0367.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $2.00 levels to bring the first major resistance level at $2.0672 back into play.
Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.0577.
Barring an extended crypto rally, the first major resistance level at $2.0672 would likely cap any upside.
Failure to move back through to $2.00 levels could see EOS fall back into the red.
A fall back through to sub-$1.8943 levels would bring the first major support level at $1.7308 into play.
Barring another crypto meltdown, however, EOS should steer well clear of sub-$1.70 levels.
Looking at the Technical Indicators
Major Support Level: $1.7308
Major Resistance Level: $2.0672
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 9.69% on Monday. Reversing a 0.97% gain from Sunday, with interest, Ethereum ended the day at $111.38.
Tracking the broader market, Ethereum rose to an early morning intraday high $123.75 before taking a hit.
Falling short of the first major resistance level at $131.65, Ethereum slid to a late morning intraday low $100.50.
Ethereum fell through the first major support level at $117.39 and the second major support level at $111.49.
Finding support from the broader market, Ethereum broke back through the second major support level to strike $116 levels.
Negative sentiment across the market weighed, however, with Ethereum sliding back to end the day at $111 levels.
The pullback also saw Ethereum fall back through the second major support level at $111.49.
At the time of writing, Ethereum was up by 4.55% to $116.45. A bullish start to the day saw Ethereum rally from an early morning low $109.66 to a high $121.49.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $120 levels to support a run at the first major resistance level at $123.25.
Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $121.49.
Barring an extended crypto rally, resistance at $120 would likely leave Ethereum short of the first major resistance level.
Failure to move through to $120 levels could see Ethereum hit reverse later in the day.
A fall back through to sub-$112 levels would bring the first major support level at $100.00 into play.
Barring a crypto sell-off, however, Ethereum should steer clear of sub-$100.00 levels.
Looking at the Technical Indicators
Major Support Level: $100.00
Major Resistance Level: $123.25
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 7.56% on Monday. Reversing a 4.53% rally from Sunday, Ripple’s XRP ended the day at $0.14199.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.15383 before hitting reverse.
Falling short of the first major resistance level at $0.1646, Ripple’s XRP slid to a late morning intraday low $0.12863.
Ripple’s XRP fell through the first major support level at $0.1440 and the second major support level at $0.1343.
Finding support in the late morning, Ripple’s XRP briefly broke back through the major support levels to $0.146 levels.
A bearish end to the day, however, saw Ripple’s XRP fall back through the first major support level to sub-$0.14 before wrapping up the day at $0.14 levels.
At the time of writing, Ripple’s XRP was up by 2.73% to $0.14586. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.14079 to a high $0.15260.
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 the morning high to $0.15 levels to support a run at the first major resistance level at $0.1543.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.15260.
Barring an extended crypto rally, resistance at S0.15 would likely continue to limit any upside.
Failure to move back through to $0.15 levels could see Ripple’s XRP fall back into the red.
A fall back through to sub-$0.1415 levels would bring the first major support level at $0.1291 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.13 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.1291
Major Resistance Level: $0.1543
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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