EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 06/03/20

By March 6, 2020 Ethereum
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EOS

EOS rallied by 4.74% on Thursday. Reversing a 0.87% decline from Wednesday, EOS ended the day at $3.7780.

A bullish day saw EOS rally from an early morning intraday low $3.6070 to a late afternoon intraday high $3.8492.

EOS broke through the first major resistance level at $3.6822 and the second major resistance level at $3.7592.

While EOS fell back to sub-3.80 levels late on, EOS managed to wrap up the day above the second major resistance level.

At the time of writing, EOS was down by 0.06% to $3.7756. A bearish start to the day saw EOS fall from an early morning high $3.7891 to a low $3.7419 before finding support.

EOS would need to move back through the morning high $3.7891 to $3.80 levels to bring the first major resistance level at $3.8825 into play.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $3.8492.

Barring a broad-based crypto rally, the first major resistance level at $3.8825 and Thursday’s high should limit any upside.

Failure to move back through the morning high to $3.80 levels could see EOS hit reverse.

A fall back through to sub-$3.75 levels would bring the first major support level at $3.6403 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$3.60 levels.

Major Support Level: $3.6403

Major Resistance Level: $3.8825

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.85% on Thursday. Following on from a 0.38% gain on Wednesday, Ethereum ended the day at $228.64.

A bullish start to the day saw Ethereum rally from an early morning intraday low $224.49 to an early afternoon intraday high $234.47.

Ethereum broke through the first major resistance level at $228.8 and the second major resistance level at $233.03.

A choppy 2nd half of the day saw Ethereum recover from sub-$230 levels to return to $233 levels before a late pullback.

The late pullback saw Ethereum fall back through the major resistance levels before wrapping up the day at $228 levels.

At the time of writing, Ethereum was up by 0.52% to $229.82. A mixed start to the day saw Ethereum fall to an early morning low $227.77 before striking a high $231.13.

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

EOS rallied by 4.74% on Thursday. Reversing a 0.87% decline from Wednesday, EOS ended the day at $3.7780.

A bullish day saw EOS rally from an early morning intraday […]

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