EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 22/03/20

By March 22, 2020 Ethereum
Click here to view original web page at www.fxempire.com

The majors are on the move through the morning. A move through Saturday highs would support a breakout on the day…

Ripple, Dash coin, Bitcoin, Monero and Ethereum

EOS

EOS rose by 3.54% on Saturday. Partially reversing a 7.51% slide from Friday, EOS ended the day at $2.2776.

A bullish start to the day saw EOS rally to an early morning high $2.2904 before hitting reverse.

Falling short the first major resistance level at $2.5237 EOS fell to a late morning intraday low $2.1118.

Steering well clear of the first major support level at $1.8879, EOS rallied to a late intraday high $2.3667.

Falling short of the first major resistance level at $2.5237, EOS eased back to sub-$2.30 levels.

At the time of writing, EOS was up by 2.74% to $2.3400. A bullish start to the day saw EOS rise from an early morning low $2.2558 to a high $2.3487.

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

For the day ahead

EOS would need to move through to $2.35 levels to bring the first major resistance level at $2.3923 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.3487.

Barring another extended rally, the first major resistance level at $2.3923 would likely limit any upside.

Failure to move through to $2.35 levels could see EOS hit reverse.

A fall back through to sub-$2.25 levels would bring the first major support level at $2.1374 into play.

Barring another crypto meltdown, however, EOS should steer well clear of $2.00 support levels.

Major Support Level: $2.1374

Major Resistance Level: $2.3923

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.42% on Saturday. Following on from a 2.47% decline on Friday, Ethereum ended the day at $132.79.

A mixed start to the day saw Ethereum rise to an early morning high $137.62 before sliding into the red.

Falling short of the first major resistance level at $153.01, Ethereum fell to a late morning intraday low $125.84.

Steering clear of the first major support level at $114.52, Ethereum struck a late intraday high $137.64 before falling back into the red.

In spite of the breakout, Ethereum fell short of the first major resistance level at $153.01 for the 2nd time.

At the time of writing, Ethereum was up by 2.52% to $136.13. A bullish start to the day saw Ethereum rise from an early morning low $130.65 to a high $136.92.

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

For the day ahead

Ethereum would need to move through to $137 levels to support a run at the first major resistance level at $138.34.

Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $137.64.

Barring an extended crypto rally, resistance at $137 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $137 levels could see Ethereum struggle later in the day.

A fall back through to sub-$132 levels would bring the first major support level at $126.54 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$120 support levels.

The second major support level at $120.29 would likely limit any downside.

Major Support Level: $126.54

Major Resistance Level: $138.34

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 0.77% on Saturday. Partially reversing a 4.89% slide from Friday, Ripple’s XRP ended the day at $0.15832.

A bullish start to the day saw Ripple’s XRP rally to an early morning high $0.16172 before hitting reverse.

Falling short of the first major support level at $0.1732, Ripple’s XRP slid to a late morning intraday low $0.15172.

Steering clear of the first major support level at $0.1426, Ripple’s XRP rallied to a late intraday high $0.16260.

Falling short of the first major resistance level at $0.1732, Ripple’s XRP fell back to sub-$0.16 levels.

At the time of writing, Ripple’s XRP was up by 1.72% to $0.16104. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.15678 to a high $0.16162.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move back through to $0.1620 levels to support a run at the first major resistance level at $0.1634.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.16260.

Barring an extended crypto rally, the first major resistance level at S0.1634 would likely cap any upside.

Failure to move back through to $0.1620 levels could see Ripple’s XRP hit reverse.

A fall back through to sub-$0.1575 levels would bring the first major support level at $0.1525 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.15 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.1525

Major Resistance Level: $0.1634

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

EOS rose by 3.54% on Saturday. Partially […]

Leave a Reply