EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 26/03/20

EOS

EOS fell by 2.08% on Wednesday. Reversing a 2.24% gain from Tuesday, EOS ended the day at $2.2965.

A choppy start to the day saw EOS rally to a late morning intraday high $2.3740 before hitting reverse.

Falling short of the first major resistance level at $2.3938, EOS slid to a late morning intraday low $2.2271.

The reversal saw EOS fall through the first major support level at $2.2938 and the second major support level at $2.2380.

Finding support in the early afternoon, EOS recovered to $2.31 levels before falling back to sub-$2.30 levels.

At the time of writing, EOS was up by 0.86% to $2.3163. A mixed start to the day saw EOS rise to an early morning high $2.3410 before falling to a low $2.993.

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

For the day ahead

EOS would need to move through the morning high $2.3410 to bring the first major resistance level at $2.3713 into play.

Support from the broader market would be needed, however, for EOS to break out from $2.34 levels.

Barring another extended rally, the first major resistance level at $2.3713 would likely limit any upside.

Failure to move back through to $2.34 levels could see EOS hit reverse.

A fall back through the morning low $2.2993 would bring the first major support level at $2.2244 back into play.

Barring another crypto meltdown, however, EOS should steer clear of the second major support level at $2.1523.

Looking at the Technical Indicators

Major Support Level: $2.2244

Major Resistance Level: $2.3713

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.94% on Wednesday. Reversing a 1.46% gain from Tuesday, Ethereum ended the day at $136.26.

A mixed start to the day saw Ethereum rise to a late morning intraday high $142.79 before hitting reverse.

Falling short of the first major resistance level at $144.43 Ethereum slid to a late morning low $132.92.

The reversal saw Ethereum fall through the first major support level at $133.31 before recovering to $138 levels.

A 2^nd sell-off late in the day, however, saw Ethereum slide back through the first major support level to an intraday low $132.50.

Finding support late on, Ethereum recovered to $136 levels to limit the downside on the day.

At the time of writing, Ethereum was up by 0.18% to $136.51. A mixed start to the day saw Ethereum rise to an early morning high $138.19 before falling to a low $135.42.

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

For the day ahead

Ethereum would need to move through to $137.20 levels to support a run at the first major resistance level at $141.87.

Support from the broader market would be needed, however, for Ethereum to break back through to $140 levels.

Barring a broad-based crypto rally, the first major resistance level at $141.87 would likely limit any upside.

Failure to move through to $137.20 levels could see Ethereum fall back into the red.

A fall back through the morning low $135.42 would bring the first major support level at $131.58 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$130 support levels.

Looking at the Technical Indicators

Major Support Level: $131.58

Major Resistance Level: $141.47

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.51% on Wednesday. Partially reversing a 2.29% gain from Tuesday, Ripple’s XRP ended the day at $0.16178.

Tracking the broader market, Ripple’s XRP rallied to a late morning intraday high $0.16556 before hitting reverse.

Ripple’s XRP came up against the first major resistance level at $0.1655 before sliding to a late morning intraday low $0.15693.

In the early afternoon, Ripple’s XRP briefly revisited $0.1620 levels before sliding to sub-$0.16 levels.

Finding support at the first major support level at $0.1589, Ripple’s XRP recovered to $0.16 levels to limit the loss on the day.

At the time of writing, Ripple’s XRP was up by 0.06% to $0.16188. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.16308 before falling to a low $0.16058.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through the morning high $0.16308 to support a run at the first major resistance level at $0.1659.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.16556.

Barring a broad-based crypto rebound, the first major resistance level at S0.1659 would likely cap any upside.

Failure to move back through the morning high $0.16308 could see Ripple’s XRP slide back into the red.

A fall back through the morning low $0.16058 would bring the first major support level at $0.1573 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 levels on the day.

The second major support level at $0.1528 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.1573

Major Resistance Level: $0.1659

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