EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 29/03/20

EOS

EOS rose by 0.64% on Saturday. Following a 5.91% slide on Friday, EOS ended the day at $2.2064.

A bearish start to the day saw EOS fall to an early morning low $2.1209 before finding support.

Steering clear of the first major support level at $2.1021, EOS recovered to $2.19 levels before hitting reverse.

The reversal saw EOS slide to a late afternoon intraday low $2.0905. EOS fell through the first major support level at $2.1021 before bouncing back to an intraday high $2.2449.

Falling short of the first major resistance level at $2.3293, EOS eased back to limit the upside on the day.

At the time of writing, EOS was down by 0.90% to $2.1866. A bearish start to the day saw EOS fall from an early morning high $2.2192 to a low $2.1859.

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

For the day ahead

EOS would need to move through to $2.20 levels to support a run at the first major resistance level at $2.2707.

Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.2449.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.

Failure to break back through to $2.20 levels could see EOS fall deeper into the red.

A fall back through the morning low $2.1859 would bring the first major support level at $2.1163 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.00 levels. The second major support level at $2.0262 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.1163

Major Resistance Level: $2.2707

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.16% on Saturday. Following on from a 5.35% slide on Friday, Ethereum ended the day at $131.35.

A bearish start to the day saw Ethereum fall to an early morning intraday low $125.01 before finding support.

Ethereum fell through the first major support level at $126.87 before recovering to $130 levels.

A second sell-off in the late afternoon saw Ethereum slide back through the first major support level before striking a late intraday high $133.80.

Falling short of the first major resistance level at $139.37, Ethereum fell back to sub-$132 and into the red.

At the time of writing, Ethereum was down by 1.32% to $129.61. A bearish start to the day saw Ethereum fall from an early morning high $132.18 to a low $129.38.

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

For the day ahead

Ethereum would need to move through to $130 levels to support a run at the first major resistance level at $135.10.

Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $133.8.

Barring a broad-based crypto rebound, the first major resistance level at $135.10 would likely limit any upside.

Failure to move through to $130 levels could see Ethereum struggle throughout the day.

A fall through to sub-$129 levels would bring the first major support level at $126.31 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $121.26.

Looking at the Technical Indicators

Major Support Level: $126.31

Major Resistance Level: $135.10

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 1.72% on Saturday. Partially reversing a 1.98% fall from Friday, Ripple’s XRP ended the day at $0.17592.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.16643 before finding support.

Steering clear of the first major support level at $0.1658, Ripple’s XRP rallied to a late intraday high $0.18014.

Falling short of the first major resistance level at $0.1839, Ripple’s XRP eased back to limit the upside on the day.

At the time of writing, Ripple’s XRP was down by 1.53% to $0.17323. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.17701 to a low $0.16967.

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 to $0.1740 levels to support a run at the first major resistance level at $0.1819.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the Saturday’s high $0.18014.

Barring a broad-based crypto rebound, the first major resistance level at $0.1819 would likely limit any upside.

Failure to move back through to $0.1740 levels could see Ripple’s XRP slide deeper into the red.

A fall back through the morning low $0.16967 would bring the first major support level at $0.1682 back into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.16 support levels on the day.

The second major support level at $0.1605 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.1682

Major Resistance Level: $0.1819

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