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