EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 18th, 2020

EOS

EOS rose by 0.96% on Thursday. Following on from a 0.30% gain on Wednesday, EOS ended the day at $2.7384.

It was a particularly bullish start to the day. EOS rallied to an early morning intraday high $2.7770 before hitting reverse.

Falling short of the first major resistance level at $2.7868, EOS fell to a late morning intraday low $2.6918

Steering clear of the first major support level at $2.6071, EOS recovered to a late high $2.7621 before easing back.

At the time of writing, EOS was up by 0.16% to $2.7428. A mixed start to the day saw EOS fall to an early morning low $2.7368 before rising to a high $2.7466.

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

For the day ahead

EOS would need to avoid a fall through the $2.7357 pivot level to support a run at the first major resistance level at $2.7797.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $2.7770.

Barring an extended crypto rally, the first major resistance level and resistance at $2.80 would likely cap any upside.

Failure to avoid a fall through the pivot level at $2.7357 would bring the first major support level at $2.6945 into play.

Barring an extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6505 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.6945

Pivot Level: $2.7357

First Major resistance Level: $2.7797

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rallied by 6.63% on Thursday. Following on from a 0.32% gain on Wednesday, Ethereum ended the day at $389.45.

Bullish for the day, Ethereum rallied from an early morning intraday low $363.40 to a late intraday high $394.55.

Ethereum broke through the first major resistance level at $374.07 and the second major resistance level at $382.90.

On the day, Ethereum also broke through the 38.2% FIB of $367 to visit $390 levels for the 1^st time since Sunday.

A late pullback left Ethereum at sub-$390 at the day end, however.

At the time of writing, Ethereum was up by 0.67% to $392.06. A mixed start to the day saw Ethereum fall to an early morning low $389.07 before rising to a high $392.69.

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

For the day ahead

Ethereum would need to avoid a fall through the $382.47 pivot to support a run at the first major resistance level at $401.53.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $394.55.

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

Failure to avoid a fall through the $382.47 pivot would bring the first major support level at $370.38 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of sub-$350 levels. The 38.2% FIB and the second major support level at $351.32 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $370.38

Pivot Level: $382.47

First Major Resistance Level: $401.53

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 2.07% on Thursday. Following on from a 1.66% gain on Wednesday, Ripple’s XRP ended the day at $0.25222.

It was a particularly bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.25849 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2538 before sliding back to a late morning intraday low $0.24613.

Steering clear of the first major support level at $0.2372, however, Ripple’s XRP bounced back to a late high $0.25531.

Ripple’s XRP broke back through the first major resistance level at $0.2538 before easing back to sub-$0.2530 levels.

At the time of writing, Ripple’s XRP was up by 0.54% to $0.25359. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25205 to a high $0.25367.

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 $0.2523 pivot to support a run at the first major resistance level at $0.2584.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2580 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.26 would likely limit any upside.

Failure to avoid a fall through the $0.2523 pivot would bring the first major support level at $0.2461 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.24 levels. The second major support level sits at $0.2399.

Looking at the Technical Indicators

First Major Support Level: $0.2461

Pivot Level: $0.2523

First Major Resistance Level: $0.2584

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