U.S. markets closed

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 10/05/20

Bob Mason

EOS

EOS rose by 0.03% on Saturday. Following a 0.64% decline on Friday, EOS ended the day at $2.7514.

A bearish start to the day saw EOS fall to an early morning intraday low $2.7328 before making a move.

Steering clear of the first major support level at $2.6918, EOS recovered to $2.81 levels before falling back to $2.73 levels.

Finding support in the afternoon, however, EOS rallied to a late afternoon intraday high $2.8343.

EOS broke through the first major resistance level at $2.8165 before sliding back to $2.75 levels late in the day.

At the time of writing, EOS was down by 10.39% to $2.4655. An early morning sell-off saw EOS fall from a high $2.7506 to a low $2.2606.

Steering clear of the major resistance levels, EOS fell through the major support levels at the start of the day.

For the day ahead

EOS would need to move back through major support levels to $2.77 levels to bring the first major resistance level at $2.8129 into play.

Support from the broader market would be needed, however, for EOS to break out from the first major support level at $2.7114.

Barring a broad-based crypto rebound, the first major support level at $2.7114 would likely pin EOS back.

Failure to move back through to $2.77 levels would see EOS remain in the deep red.

A fall through the morning low $2.2606 would bring sub-$2.20 levels into play.

Barring an extended crypto sell-off, however, EOS should avoid a fall back through the morning low.

Looking at the Technical Indicators

Major Support Level: $2.7114

Major Resistance Level: $2.8129

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.78% on Saturday. Following on from a 0.43% decline on Friday, Ethereum ended the day at $210.00.

It was also a mixed start to the day. Ethereum fell to an early low $209.25 before striking an early morning intraday high $214.79.

Falling short of the first major resistance level at $216.66, Ethereum fell to a late morning intraday low $208.27.

Steering clear of the major support level at $206.86, Ethereum recovered to $214 levels before easing back.

At the time of writing, Ethereum was down by 9.95% to $189.11. A particularly bearish start to the day saw Ethereum fall from an early morning high $210.06 to a low $180.01.

Steering clear of the major resistance levels, Ethereum fell through the major support levels at the start of the day.

For the day ahead

Ethereum would need to move back through the major support levels to $211 levels to bring the first major resistance level at $213.77 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the first major support level at $207.25.

Barring a broad-based crypto rebound, resistance at $200 would likely pin Ethereum back on the day.

Failure to move back through to $211 levels could see Ethereum remain in the deep red.

A fall back through the morning low $180.01 would bring sub-$180 levels into play before any recovery.

Barring an extended sell-off, however, Ethereum should avoid a return to the early low $180.01.

Looking at the Technical Indicators

Major Support Level: $207.25

Major Resistance Level: $213.77

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 0.97% on Saturday. Following on from a 0.05% decline on Friday, Ripple’s XRP ended the day at $0.21636.

It was a mixed start to the day. Ripple’s XRP recovered from an early morning low $0.21663 to strike a mid-morning intraday high $0.22506 before hitting reverse.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.2226.

The reversal saw Ripple’s XRP fall to a late intraday low $0.21554 before wrapping up the day at $0.2160 levels. Ripple’s XRP steered clear of the first major support level at $0.2145 late on.

At the time of writing, Ripple’s XRP was down by 9.07% to $0.19673. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.21622 to a low $0.17501.

Steering clear of the major resistance levels, Ripple’s XRP slid through the major support levels early on.

 

For the day ahead

Ripple’s XRP will need to move back through the first major support level at $0.2129 to $0.22 levels to bring the first major resistance level at $0.2224 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the second major support level at $0.2095.

Barring a broad-based crypto rebound, the second major support level at $0.2095 would likely limit any recovery on the day.

Failure to move through to $0.2190 levels could see Ripple’s XRP remain in the deep red.

A fall through the morning low 0.17501 would bring sub-$0.17 levels into play.

Barring an extended crypt meltdown, however, Ripple’s XRP should avoid a return to sub-$0.18 levels.

Looking at the Technical Indicators

Major Support Level: $0.2129

Major Resistance Level: $0.2224

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

More From FXEMPIRE: