EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 28/03/20

By March 28, 2020Ethereum
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It’s a bearish start to the day as Friday’s late sell-off continued into this morning. A recovery to early highs would be needed to avoid heavier losses.

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EOS

EOS slid by 5.91% on Friday. Reversing a 1.35% gain from Thursday, EOS ended the day at $2.1937.

A relatively bullish start to the day saw EOS rise to an early morning intraday high $2.3733 before hitting reverse.

EOS broke through the first major resistance level at $2.3597 before sliding to a final hour intraday low $2.1461.

EOS slide through the day’s major support levels before breaking back through the third major support level at $2.1596.

At the time of writing, EOS was down by 1.24% to $2.1666. A mixed start to the day saw EOS rise to an early morning high $2.2040 before falling to a low $2.1209.

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

For the day ahead

EOS would need to move through to $2.24 levels to support a run at the first major resistance level at $2.3293.

Support from the broader market would be needed, however, for EOS to break out from the early morning high $2.2040.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.

Failure to break back through to $2.24 levels could see EOS fall deeper into the red.

A fall back through the morning low $2.1209 would bring the first major support level at $2.1021 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$2.00 levels. The second major support level at $2.0105 should limit any downside.

Major Support Level: $2.1021

Major Resistance Level: $2.3293

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 5.35% on Friday. Reversing a 1.94% gain from Thursday, Ethereum ended the day at $131.56.

A bullish start to the day saw Ethereum rise to an early morning intraday high $142.05 before easing back to sub-$135 levels.

Ethereum broke through the first major resistance level at $141.73 before falling through the first major support level at $134.89..

Finding support late in the day, Ethereum recovered to $137 levels before a final hour slide to an intraday low $130.00.

The sell-off saw Ethereum fall through the first major support level at $134.89 and second major support level at $130.79.

Finding late support, Ethereum broke back through the second major support level to wrap up the day at $131 levels.

At the time of writing, Ethereum was down by 2.23% to $128.63. A mixed start to the day saw Ethereum rise to an early morning high $131.56 before falling to a low $125.01.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $126.87.

For the day ahead

Ethereum would need to move through to $134.70 levels to support a run at the first major resistance level at $139.37.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $131.56.

Barring a broad-based crypto rebound, resistance at $135 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $134.70 levels could see Ethereum struggle throughout the day.

A fall back through the first major support level at $126.87 would bring the second major support level at $122.19 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$125 levels.

Major Support Level: $126.87

Major Resistance Level: $139.37

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 1.98% on Friday. Partially reversing an 8.97% rally from Thursday, Ripple’s XRP ended the day at $0.17294.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.18036 before hitting reverse.

Falling short of the first major resistance level at $0.1829, Ripple’s XRP fell back to a late morning low $0.16968.

Steering clear of the first major support level at $0.1650, Ripple’s XRP rallied to a late intraday high $0.18774.

Ripple’s XRP broke through the first major resistance level at $0.1829 before tumbling to sub-$0.1710 levels and into the red.

At the time of writing, Ripple’s XRP was down by 1.78% to $0.16987. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.17420 before falling to a low $0.16643.

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

For the day ahead

Ripple’s XRP will need to move through to $0.1770 levels to support a run at the first major resistance level at $0.1839.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.17420.

Barring a broad-based crypto rebound, resistance at $0.1750 would likely leave Ripple’s XRP short of the first major resistance level.

Failure to move back through to $0.1770 levels could see Ripple’s XRP slide deeper into the red.

A fall back through the morning low $0.16643 would bring the first major support level at $0.1658 back into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of sub-$0.16 support levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.1658

Major Resistance Level: $0.1839

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 […]

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