Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 15/03/20
EOS
EOS fell by 6.90% on Saturday. Partially reversing a 19.46% rally from Friday, EOS ended the day at $1.9773.
A mixed start to the day saw EOS rise to an early morning intraday high $2.1385 before hitting reverse.
Falling short of the first major resistance level at $2.4425, EOS slid to a late morning low $1.9500.
Steering clear of the major support levels, EOS recovered to $2.08 levels before sliding back into the deep red.
The sell-off saw EOS slide to a late intraday low $1.9468 before finding support. In spite of the sell-off, EOS steered clear of the first major support level at $1.6131.
At the time of writing, EOS was down by 0.26% to $1.9721. A mixed start to the day saw EOS fall to an early morning low $1.9550 before striking a high $2.0065.
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 $2.0949 back into play.
Support from the broader market would be needed, however, for EOS to break out from the morning high $2.0065.
Barring a broad-based crypto rebound, the first major resistance level at $2.0949 would likely cap any upside.
Failure to move back through to $2.00 levels could see EOS fall deeper into the red.
A fall back through the morning low to sub-$1.9550 levels would bring the first major support level at $1.9032 into play.
Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $1.8292.
Looking at the Technical Indicators
Major Support Level: $1.9032
Major Resistance Level: $2.0949
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slid by 9.80% on Saturday. Partially reversing a 22.86% rally from Friday, Ethereum ended the day at $122.17.
Bearish throughout the day, Ethereum slid from an early morning intraday high $135.90 to a final hour intraday low $120.77.
In spite of the sell-off, Ethereum steered well clear of the first major support level at $101.01, supporting a move back to $122 levels.
At the time of writing, Ethereum was down by 0.38% to $121.70. A mixed start to the day saw Ethereum fall to an early morning low $120.00 before striking a high $123.48.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $126.30 levels to support a run at the first major resistance level at $131.79.
Support from the broader market would be needed, however, for Ethereum to breakout from the morning high $123.48.
Barring a broad-based crypto rally, resistance at $130 would likely leave Ethereum short of the first major resistance level.
Failure to move through to $126.30 levels could see Ethereum struggle throughout the day.
A fall back through the morning low $120.00 would bring the first major support level at $116.66 into play.
Barring an extended crypto sell-off, however, Ethereum should avoid a return to sub-$110 levels.
Looking at the Technical Indicators
Major Support Level: $116.66
Major Resistance Level: $131.79
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 8.18% on Saturday. Partially reversing a 15.33% rally from Friday, Ripple’s XRP ended the day at $0.14674.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.16075 before hitting reverse.
Falling short of the first major resistance level at $0.1815, Ripple’s XRP tumbled to a final hour intraday low $0.14423.
In spite of the sell-off, Ripple’s XRP steered clear of the first major support level at $0.1240. Finding late support, Ripple’s XRP moved back through to $0.146 levels to limit the loss on the day.
At the time of writing, Ripple’s XRP was down by 0.26% to $0.14636. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.14534 before striking a high $0.14887.
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 $0.1569.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.14887.
Barring a broad-based crypto rally, resistance at S0.15 would likely limit any upside.
Failure to move back through to $0.15 levels could see Ripple’s XRP fall deeper into the red.
A fall back through to sub-$0.1450 levels would bring the first major support level at $0.1404 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: $0.1404
Major Resistance Level: $0.1569
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
