EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 22nd, 2020

EOS

EOS slid by 6.31% on Monday. Following on from a 1.05% decline on Sunday, EOS ended the day at $2.5039.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.6908 before hitting reverse.

Falling short of the first major resistance level at $2.7116, EOS tumbled to an early afternoon intraday low $2.4811.

EOS fell through the first major support level at $2.6239 and the second major support level at $2.5759.

Finding support at the third major support level at $2.4882, EOS briefly recovered to $2.54 levels before falling back.

At the time of writing, EOS was up by 0.30% to $2.5115. A mixed start to the day saw EOS fall to an early morning low $2.4859 before rising to a high $2.5178.

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

For the day ahead

EOS would need to move through the $2.5586 pivot level to support a run at the first major resistance level at $2.6361.

Support from the broader market would be needed, however, for EOS to break back through to $2.60 levels.

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

Failure to move through the pivot level at $2.5586 would bring the first major support level at $2.4264 into play.

Barring another extended sell-off, however, EOS should steer of the second major support level at $2.3489.

Looking at the Technical Indicators

First Major Support Level: $2.4264

Pivot Level: $2.5586

First Major resistance Level: $2.6361

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum tumbled by 8.33% on Monday. Following on from a 3.78% slide on Sunday, Ethereum ended the day at $340.11.

Tracking the broader market, Ethereum rose to an early morning intraday high $376.76 before hitting reverse.

Falling short of the first major resistance level at $382.37, Ethereum tumbled to an early afternoon intraday low $331.00.

The sell-off saw Ethereum slide through the day’s major support levels and the 38.2% FIB of $367.

Finding late support, Ethereum broke back through the third major support level at $332.79 to visit $350 levels.

A bearish end to the day, however, left Ethereum back at $340 levels at the day end.

At the time of writing, Ethereum was up by 1.14% to $343.99. A mixed start to the day saw Ethereum dip to an early morning low $337.47 before rising to a high $344.00.

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

For the day ahead

Ethereum would need to move through the $349.29 pivot to support a run at the first major resistance level at $367.58.

Support from the broader market would be needed, however, for Ethereum to break back through to $360 levels.

Barring an extended crypto rally, the 38.2% FIB and the first major resistance level would likely cap any upside.

Failure to move through the $349.29 pivot would bring the first major support level at $321.82 into play.

Barring another extended sell-off, however, Ethereum should steer clear the second major support level at $303.53 and sub-$300.

Looking at the Technical Indicators

First Major Support Level: $321.82

Pivot Level: $349.29

First Major Resistance Level: $367.58

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 6.39% on Monday. Following on from a 1.79% fall on Sunday, Ripple’s XRP ended the day at $0.23075.

It was also a mixed start to the day. Ripple’s XRP rose an early morning intraday high $0.24790 before hitting reverse.

Falling short of the first major resistance level at $0.2510, Ripple’s XRP slid to a late afternoon intraday low $0.2293.

Ripple’s XRP fell through the first major support level at $0.2423 and the second major support level at $0.2380.

Finding support at the third major support level at $0.2293, Ripple’s XRP briefly revisited $0.2336 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.34% to $0.23153. Tracking the broader market, Ripple’s XRP fell to an early morning low $0.22950 before rising to a high $0.23156.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through the $0.2360 pivot to support a run at the first major resistance level at $0.2427.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

Failure to move through the $0.2360 pivot would bring the first major support level at $0.2241 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2174.

Looking at the Technical Indicators

First Major Support Level: $0.2241

Pivot Level: $0.2360

First Major Resistance Level: $0.2427

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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