Advertisement

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 23rd, 2020

EOS

EOS rose by 2.79% on Tuesday. Partially reversing a 6.31% slide from Monday, EOS ended the day at $2.5746.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.4859 before making a move.

Steering clear of the first major support level at $2.4264, EOS rose to a late intraday high $2.5915.

Falling short of the first major resistance level at $2.6361, however, EOS slipped back to end the day at $2.57 levels.

At the time of writing, EOS was down by 0.10% to $2.5721. A mixed start to the day saw EOS dip to an early morning low $2.5686 before rising to a high $2.5771

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

For the day ahead

EOS would need to avoid a fall through the $2.5507 pivot level to support a run at the first major resistance level at $2.6154.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.5915.

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

Failure to avoid a fall through the pivot level at $2.5507 would bring the first major support level at $2.5098 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.50 levels. The second major support level sits at $2.4451.

Looking at the Technical Indicators

First Major Support Level: $2.5098

Pivot Level: $2.5507

First Major resistance Level: $2.6154

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rose by 1.15% on Tuesday. Partially reversing Monday’s 8.33% tumble, Ethereum ended the day at $344.26.

A mixed start to the day saw Ethereum rise to an early morning high $346.74 before hitting reverse.

Falling well short of the major resistance levels, Ethereum fell to a late morning intraday low $335.57.

Steering clear of the first major support level at $321.82, Ethereum rose to a late intraday high $346.84 before easing back.

Falling short of the first major resistance level at $367.58, Ethereum wrapped up the day at $344 levels.

At the time of writing, Ethereum was down by 0.22% to $343.51. A bearish start to the day saw Ethereum fall from an early morning high $344.63 to a low $343.45.

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

For the day ahead

Ethereum would need to avoid a fall through the $342.22 pivot to support a run at the first major resistance level at $348.88.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $346.84.

Barring an extended crypto rally, the first major resistance level and resistance at $350 would likely cap any upside.

Failure to avoid a fall through the $342.22 pivot would bring the first major support level at $337.61 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$330 levels. The second major support level at $330.95 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $337.61

Pivot Level: $342.22

First Major Resistance Level: $348.88

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 0.86% on Tuesday. Partially reversing a 6.39% slide from Monday, Ripple’s XRP ended the day at $0.23313.

It was also a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.22950 before making a move.

Steering clear of the first major support level at $0.2241, Ripple’s XRP rose to a mid-morning high $0.23440.

Coming up short of the major resistance levels, Ripple’s XRP fell back to sub-$0.23 levels before finding support.

A late rally saw Ripple’s XRP strike a late intraday high $0.23442 before easing back to sub-$0.2340 levels.

In spite of the late rally, Ripple’s XRP fell well short of the first major resistance level at $0.2427 on the day.

At the time of writing, Ripple’s XRP was down by 0.06% to $0.23299. A bearish start to the day saw Ripple’s XRP fall to an early morning low $0.23284 before rising to a high $0.23299.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2324 pivot to support a run at the first major resistance level at $0.2352.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.23442.

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

Failure to avoid a fall through the $0.2324 pivot would bring the first major support level at $0.2303 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2274.

Looking at the Technical Indicators

First Major Support Level: $0.2303

Pivot Level: $0.2324

First Major Resistance Level: $0.2352

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: