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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 18/03/20

Bob Mason

EOS

EOS rose by 3.74% on Tuesday. Partially reversing a 7.21% slide from Monday, EOS ended the day at $1.9782.

A bullish start to the day saw EOS rise from an early morning intraday low $1.8808 to a high $2.0367 before easing back.

Steering clear of the major support and resistance levels, EOS fell back to sub-$2.00 levels before striking a late intraday high $2.0442.

Falling short of the first major resistance level at $2.0672, EOS eased back to wrap up the day at sub-$2.00 levels.

At the time of writing, EOS was up by 1.22% to $2.0023. A mixed start to the day saw EOS fall to an early morning low $1.9671 before striking a high $2.0062.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to avoid sub-$2.00 levels to take a run at the first major resistance level at $2.0547.

Support from the broader market would be needed, however, for EOS to break out from the Tuesday’s high $2.0442.

Barring an extended crypto rally, the first major resistance level at $2.0547 would likely cap any upside.

Failure to avoid sub-$2.00 levels could see EOS fall back into the red.

A fall back through to sub-$1.9677 levels would bring the first major support level at $1.8913 into play.

Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $1.8043.

Looking at the Technical Indicators

Major Support Level: $1.8913

Major Resistance Level: $2.0547

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 4.25% on Tuesday. Partially reversing a 9.69% slide from Monday, Ethereum ended the day at $116.09.

A bullish start to the day saw Ethereum rise from an early morning intraday low $109.66 to a high $121.49.

Steering clear of the major support and resistance levels, Ethereum fell back to an afternoon low $112.76.

Finding support from the broader market Ethereum recovered to $120 levels before a final hour pullback to $116 levels.

At the time of writing, Ethereum was up by 1.40% to $117.71. A mixed start to the day saw Ethereum fall to an early morning low $115.42 before striking a high $118.48.

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 $121.83.

Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $118.48.

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-$115.80 levels would bring the first major support level at $110.00 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of the second major support level at $103.92.

Looking at the Technical Indicators

Major Support Level: $110.00

Major Resistance Level: $121.83

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 4.04% on Tuesday. Partially reversing a 7.56% slide from Monday, Ripple’s XRP ended the day at $0.14773.

A bullish start to the day saw Ripple’s XRP rise from an early morning intraday low $0.10479 to a mid-morning intraday high $0.15306.

Falling short of the first major resistance level at $0.1543, Ripple’s XRP fell back to an early afternoon low $0.14399.

Continuing to avoid the first major support level at $0.1291, Ripple’s XRP recovered to $0.15 levels before a late pullback.

At the time of writing, Ripple’s XRP was up by 0.86% to $0.1490. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.14646 before striking a high $0.14936.

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 $0.1536.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.14936.

Barring an extended crypto rally, the first major resistance level at S0.1536 would likely 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-$0.1470 levels would bring the first major support level at $0.1413 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.14 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.1413

Major Resistance Level: $0.1536

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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