EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 09/01/20

By January 9, 2020 Ethereum
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EOS

EOS slid by 2.72% on Wednesday. Following a 0.06% gain on Tuesday, EOS ended the day at $2.7729.

A bullish start to the day saw EOS rally to an early morning intraday high $2.9865 before hitting reverse.

EOS broke through the first major resistance level at $2.9031 and the second major resistance level at $2.9520.

The reversal saw EOS slide to a late afternoon intraday low $2.7113. EOS fell through the first major support level at $2.7833 to find support at the second major support level at $2.7124.

Late support limited the downside on the day, with EOS recovering to $2.8 levels before easing back.

At the time of writing, EOS was up by 0.36% to $2.7830. A mixed start to the day saw EOS fall to an early morning low $2.7500 before striking a high $2.7956.

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

For the day ahead

EOS would need to move back through to $2.8250 levels to support a run at the first major resistance level at $2.9358.

Support from the broader market would be needed, however, for EOS to break out from $2.80 levels.

Barring an extended broad-based crypto rally, EOS would likely fall well short of the first major resistance level at $2.9358.

Failure to move through to $2.8250 levels could see EOS hit reverse. A fall through the morning low $2.7500 would bring the first major support level at $2.6606 into play.

Barring a crypto meltdown, however, EOS should steer clear of sub-$2.60 levels.

Looking at the Technical Indicators

Major Support Level: $2.6606

Major Resistance Level: $2.9358

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 1.73% on Wednesday. Following on from a 0.78% fall from Tuesday, Ethereum ended the day at $140.6.

A bullish start to the day saw Ethereum rally to an early morning intraday high $148.00 before hitting reverse.

Ethereum broke through the first major resistance level at $145.96 before sliding to a late intraday low $137.03.

EOS slid by 2.72% on Wednesday. Following a 0.06% gain on Tuesday, EOS ended the day at $2.7729.

A bullish start to the day saw EOS rally to an […]

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