Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 14/03/20
EOS
EOS rallied by 19.46% on Friday. Partially reversing a 42.21% tumble from Thursday, EOS ended the day at $2.1243.
A particularly bearish start to the day saw EOS tumble to an early morning intraday low and new swing low $1.4200.
Steering clear of the major support levels, EOS bounced back to an early afternoon intraday high $2.2494.
Falling short of the major resistance levels, EOS fell back to $1.7 levels before finding late support.
At the time of writing, EOS was down by 3.03% to $2.0600. A bearish start to the day saw EOS fall from an early morning high $2.1272 to a low $2.0310.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to $2.10 levels to bring the first major resistance level at $2.4425 into play.
Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.2494.
Barring a broad-based crypto rebound, the first major resistance level at $2.4425 would likely cap any upside.
Failure to move back through to $2.10 levels could see EOS fall deeper into the red.
A fall back through the morning low to sub-$1.9300 levels would bring the first major support level at $1.6131 into play.
Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $1.1018.
Looking at the Technical Indicators
Major Support Level: $1.6131
Major Resistance Level: $2.4425
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 22.86% on Friday. Partially reversing a 43.33% slump from Thursday, Ethereum ended the day at $135.51.
Tracking the broader market, Ethereum fell to an early morning intraday low $90 before finding support.
Steering clear of the first major support level at $75.80, Ethereum bounced back to an early morning intraday high $148.00.
Falling short of the first major resistance level at $170.22, Ethereum fell back to sub-$110 levels before finding support.
Ethereum moved back through to $130 levels to deliver the upside on the day. The upside came in spite of a choppy afternoon that saw Ethereum revisit $115 levels…
At the time of writing, Ethereum was down by 1.50% to $133.48. A bearish start to the day saw Ethereum fall from an early morning high $135.90 to a low $130.50.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move back through the morning high $135.90 to support a run at the first major resistance level at $159.01.
Support from the broader market would be needed, however, for Ethereum to breakout from Friday’s high $148.00.
Barring a broad-based crypto rally, resistance at $150 would likely leave Ethereum short of the first major resistance level.
Failure to move back through the morning high could see Ethereum struggle throughout the day.
A fall back through the morning low $130.50 to sub-$124.50 levels would bring the first major support level at $101.01 into play.
Barring an extended crypto sell-off, however, Ethereum should avoid a return to sub-$100 levels.
Looking at the Technical Indicators
Major Support Level: $101.01
Major Resistance Level: $159.01
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rallied by 15.33% on Friday. Partially reversing a 34.42% slide from Thursday, Ripple’s XRP ended the day at $0.15969.
A bearish start saw Ripple’s XRP tumble to an early morning intraday low and new swing lo $0.11004.
Steering clear of the first major support level at $0.1068, Ripple’s XRP rallied to an early afternoon intraday high $0.16759.
Falling short of the first major resistance level at $0.1895, Ripple’s XRP fell back to $0.137 levels before finding support.
Late in the day, Ripple’s XRP moved back through to $0.16 levels before easing back.
At the time of writing, Ripple’s XRP was down by 1.85% to $0.15674. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.15983 to a low $0.15425.
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 $0.16 levels to support a run at the first major resistance level at $0.1815.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.16759.
Barring a broad-based crypto rally, resistance at S0.17 would likely limit any upside.
Failure to move back through to $0.16 levels could see Ripple’s XRP fall deeper into the red.
A fall back through to sub-$0.1460 levels would bring the first major support level at $0.1240 into play.
Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels later in the day.
Looking at the Technical Indicators
Major Support Level: $0.1240
Major Resistance Level: $0.1815
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
