EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 07/03/20

By March 7, 2020 Ethereum
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EOS

EOS rose by 1.92% on Friday. Following on from a 4.74% rally on Thursday, EOS ended the day at $3.8520.

A choppy start to the day saw EOS fall to an early morning intraday low $3.7226 before finding support.

Steering clear of the first major support level at $3.6403, EOS rallied to a late morning intraday high $3.8811.

EOS came within range of the first major resistance level at $3.8825 before sliding to an afternoon low $3.7521.

The pullback into the red was brief, however, with late support delivering the upside on the day.

At the time of writing, EOS was down by 0.81% to $3.8208. A mixed start to the day saw EOS rise to an early morning high $3.8626 before falling to a low $3.8190.

EOS would need to move back through the morning high $3.8626 to bring the first major resistance level at $3.9145 into play.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $3.8811.

Barring a broad-based crypto rally, the first major resistance level at $3.9145 and Friday’s high should limit any upside.

Failure to move back through the morning high could see EOS fall deeper into the red.

A fall back through to sub-$3.8185 levels would bring the first major support level at $3.7560 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer clear of sub-$3.70 support levels.

Major Support Level: $3.7560

Major Resistance Level: $3.9145

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 7.42% on Friday. Following on from a 1.85% gain on Thursday, Ethereum ended the day at $245.56.

A bearish start to the day saw Ethereum fall to an early morning intraday low $227.77 before making a move.

Steering clear of the first major support level at $223.93, Ethereum rallied to a final hour intraday high $245.84.

The rally saw Ethereum break through the first major resistance level at $233.91 and second major resistance level at $239.18.

It was Ethereum’s first visit to $240 levels in the month.

At the time of writing, Ethereum was down by 0.65% to $243.96. A mixed start to the day saw Ethereum strike an early morning high $247.02 before falling to a low $243.49.

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

EOS rose by 1.92% on Friday. Following on from a 4.74% rally on Thursday, EOS ended the day at $3.8520.

A choppy start to the day saw EOS fall […]

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