EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 2nd, 2020

EOS

EOS jumped by 8.11% on Tuesday. Reversing a 1.29% fall from Monday, EOS ended the day at $3.4711.

It was a mixed start to the day. EOS fell to an early morning intraday low $3.1436 before making a move.

EOS fell through the first major support level at $3.1649 before rallying to a late intraday high $3.5568.

The day-long rally saw EOS break through the day’s major resistance levels to hit $3.5 levels for the 1^st time since mid-August.

At the time of writing, EOS was up by 0.65% to $3.4935. A mixed start to the day saw EOS fall to an early morning low $3.4667 before striking a high $3.5009

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

For the day ahead

EOS would need to avoid a fall through the $3.3905 pivot level to support a run at the first major resistance level at $3.6374.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $3.5568.

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

Failure to avoid a fall through the pivot level at $3.3905 would bring the first major support level at $3.2242 into play.

Barring an extended sell-off, however, EOS should avoid a return to sub-$3.20 levels. The second major support level sits at $2.9773.

Looking at the Technical Indicators

First Major Support Level: $3.2242

Pivot Level: $3.3905

First Major resistance Level: $3.6374

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rallied by 9.61% on Tuesday. Following on from a 1.16% gain on Monday, Ethereum ended the day at $475.57.

It was a mixed start to the day. Ethereum fell to an early morning intraday low $429.66 before making a move.

Steering clear of the first major support level at $421.70, Ethereum rallied to a late intraday high $488.95.

Ethereum broke through the day’s major resistance levels to visit $480 levels for the 1^st time since July-2018.

At the time of writing, Ethereum was up by 0.22% to $476.61. A mixed start to the day saw Ethereum fall to an early morning low $474.73 before rising to a high $479.00.

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

For the day ahead

Ethereum would need to avoid a fall through the $464.73 pivot to support a run at the first major resistance level at $499.79.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $488.95.

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

Failure to avoid a fall through the $464.73 pivot would bring the first major support level at $440.5 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$410 levels and the second major support level at $405.44.

Looking at the Technical Indicators

First Major Support Level: $440.5

Pivot Level: $464.73

First Major Resistance Level: $499.79

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 4.97% on Tuesday. Reversing a 0.59% decline from Monday, Ripple’s XRP ended the day at $2.9539.

It was a bearish start to the day. Ripple’s XRP slid to an early morning intraday low $0.27464 before making a move.

Ripple’s XRP fell through the first major support level at $0.2780 and the second major support level at $0.2747.

Finding support from the broader market, however, Ripple’s XRP rallied to a late intraday high $0.29946.

Ripple’s XRP broke through the day’s major resistance levels to come up against resistance at $0.30 before easing back.

While easing back, Ripple’s XRP avoided a fall through the third major resistance level at $0.2946.

At the time of writing, Ripple’s XRP was up by 3.01% to $0.30427. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.29529 to a high $0.30432.

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 $0.2898 pivot to support a run at the first major resistance level at $0.3050.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.30432.

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

Failure to avoid a fall through the $0.2898 pivot would bring the first major support level at $0.2802 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.28 levels. The second major support level sits at $0.2650.

Looking at the Technical Indicators

First Major Support Level: $0.2802

Pivot Level: $0.2898

First Major Resistance Level: $0.3050

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

This article was originally posted on FX Empire

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