Categories: Ethereum

EOS & Ethereum Daily Tech Analysis –10/09/19

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It’s a bullish start to the day. A move back through the early highs should lead to a break out later in the day.

EOS

EOS rose by 2.39% on Monday. Following on from a 6% rally on Sunday, EOS ended the day at $3.8797.

Tracking the broader market through the morning, EOS slid to a mid-morning intraday low $3.6232.

Steering clear of the first major support level at $3.5937, EOS rallied to a late morning intraday high $3.9668.

The late morning rally saw EOS break through the first major resistance level at $3.9043.

Finding strong resistance on the run-up to $4.00 levels, EOS slipped back to an afternoon low $3.7888 before finding support.

EOS recovered to $3.90 levels before easing back to wrap up the day at $3.87 levels.

In spite of the last week’s gains and a bullish start to the week, the extended bearish trend, formed back at April 2018’s swing hi $23.03, remained firmly intact. EOS continued to fall short of the 23.6% FIB of $6.62 following a pullback from $8.65 levels in late June.

At the time of writing, EOS was up by 0.69% to $3.9063. A relatively bullish start to the day saw EOS rise from an early morning low $3.8781 to a high $3.9233.

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

For the day ahead

EOS would need to move through to Monday’s high $3.9668 would bring the first major resistance level at $4.0233 into play.

EOS would need the support of the broader market, however, to break out from this morning’s high $3.9233.

Barring an extended crypto rally through the day, however, EOS would likely fall short of $4.00 levels.

Failure to move through to Monday’s high could see EOS hit reverse. A fall through to $3.82 levels would bring the first major support level at $3.6797 into play.

Barring a crypto meltdown, however, EOS should steer clear of sub-$3.7 levels on the day.

Looking at the Technical Indicators

Major Support Level: $3.6797

Major Resistance Level: $4.0233

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slipped by 0.51% on Monday. Partially reversing a 1.95% gain from Sunday, Ethereum ended the day at $180.63.

A bearish start to the day saw Ethereum slide to a mid-morning intraday low $176.11. Ethereum fell through the first major support level at $176.80 before finding support from the broader market.

Tracking the broader market, Ethereum bounced back to a late morning intraday high $186. Ethereum broke through the first major resistance level at $185.72 before hitting reverse.

The reversal saw Ethereum slide back to an afternoon low $178.41 before finding support.

Steering clear of the major support levels, Ethereum managed to move back through to $182 levels before easing into the red in the final hour.

The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.

At the time of writing, Ethereum was up by 1.77% to $183.82. A bullish start to the day saw Ethereum rise from an early morning low $180.61 to a high $184.55.

Ethereum left the major support and resistance levels untested in spite of the early rally.

For the day ahead

Ethereum would need to steer clear of sub-$181 levels to support another run at the first major resistance level at $185.72.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $184.55.

In the event of an extended crypto rally, Ethereum could test the second major resistance level at $190.80 before any pullback.

Failure to steer clear of sub-$181 levels could see Ethereum slide back to $178 levels before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of the first major support level at $175.83.

Looking at the Technical Indicators

Major Support Level: $175.83

Major Resistance Level: $185.72

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Please let us know what you think in the comments below.

Thanks, Bob

EOS rose by 2.39% […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

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