EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 11th, 2020

EOS

EOS rose by 0.96% on Thursday. Reversing a 0.50% fall from Wednesday, EOS ended the day at $2.7770.

It was a bullish start to the day. EOS rose to an early morning intraday high $2.8441 before hitting reverse.

EOS broke through the first major resistance level at $2.8183 before falling to a late morning intraday low $2.7347.

Steering clear of the first major support level at $2.6921, EOS bounced back to an afternoon high $2.8171.

Coming up against the first major resistance level, EOS eased back to sub-$2.80 to limit the gain on the day.

At the time of writing, EOS was up by 0.23% to $2.7833. A bullish start to the day saw EOS rise from an early morning low $2.7767 to a high $2.7843.

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

For the day ahead

EOS would need to move through the $2.7853 pivot level to support a run at the first major resistance level at $2.8358.

Support from the broader market would be needed, however, for EOS to break back through to $2.80 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $2.8441 would likely cap any upside.

Failure to move through the pivot level at $2.7853 would bring the first major support level at $2.7264 into play.

Barring another extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6759 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.7264

Pivot Level: $2.7853

First Major resistance Level: $2.8358

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rallied by 4.83% on Thursday. Following on from a 4.04% gain on Wednesday, Ethereum ended the day at $368.06.

It was a bullish start to the day. Ethereum rallied from an early morning intraday low $350.23 to an early afternoon intraday high $377.79.

Ethereum broke through the first major resistance level at $363.47 and the second major resistance level at $375.85. More significantly, Ethereum also broke back through the 38.2% FIB of $367.0.

A late pullback, however, saw Ethereum fall back through the resistance levels and 38.2% FIB before finding support.

Recovering from a low $360.23, Ethereum broke back through the first major resistance level to wrap up the day at $368 levels. The 38.2% FIB of $367 pinned Ethereum back late in the day.

At the time of writing, Ethereum was up by 0.70% to $370.62. A bullish start to the day saw Ethereum rise from an early morning low $367.87 to a high $370.69.

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

For the day ahead

Ethereum would need to avoid a fall through the $365.36 pivot to support a run at the first major resistance level at $380.49. In the early part of the day, Ethereum would also need to avoid a pullback through the 38.2% FIB of $367.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $377.79.

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

Failure to avoid a fall through the $365.36 pivot would bring the first major support level at $352.93 into play.

Barring an extended sell-off, however, Ethereum should continue to avoid sub-$330 levels. The second major support level at $337.8 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $352.93

Pivot Level: $365.36

First Major Resistance Level: $380.49

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 1.82% on Thursday. Following on from a 1.11% gain on Wednesday, Ripple’s XRP ended the day at $0.24337.

It was also a bullish start to the day. Ripple’s XRP rose from an early morning intraday low $0.23903 to an early afternoon intraday high $0.24858.

Ripple’s XRP broke through the first major resistance level at $0.2437 before easing back.

Coming up against the second major resistance level at $0.2483, Ripple’s XRP fell to a late low $0.2414 before steadying.

A move back through to $0.2430 levels delivered the upside. The first major resistance level pinning Ripple’s XRP back, however.

At the time of writing, Ripple’s XRP was up by 0.26% to $0.2440. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24321 to a high $0.24449.

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 back through the $0.2437 pivot to support a run at the first major resistance level at $0.2483.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.248 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.24858 would likely cap any upside.

Failure to move through the $0.2437 pivot would bring the first major support level at $0.2387 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.23 levels. The second major support level at $0.2341 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2387

Pivot Level: $0.2437

First Major Resistance Level: $0.2483

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678