EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 12th, 2020

By August 12, 2020Ethereum
Click here to view original web page at finance.yahoo.com

EOS

EOS slid by 7.30% on Tuesday. Reversing a 6.91% rally from Monday, EOS ended the day at $3.0037.

It was another mixed start to the day. EOS rose to an early morning intraday high $3.2950 before hitting reverse.

Falling short of the first major resistance level at $3.3565, EOS tumbled to a late intraday low $2.8604.

EOS fell through the first major support level at $3.0591 and the second major support level at $2.8804.

Finding late support, EOS moved back through the second major support level to limit the loss on the day.

At the time of writing, EOS was down by 0.30% to $2.9947. A bearish start to the day saw EOS fall from an early morning high $3.0047 to a low $2.9937.

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

For the day ahead

EOS would need to move through the $3.0530 pivot level to support a run at the first major resistance level at $3.2457.

Support from the broader market would be needed, however, for EOS to break back through to $3.20 levels.

Barring an extended crypto rally, EOS would likely fall short of the major first resistance level and Tuesday’s high $3.2950.

Failure to move through the $3.0530 pivot would bring the first major support level at $2.8111 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $2.6184.

Looking at the Technical Indicators

First Major Support Level: $2.8111

Pivot Level: $3.0530

First Major Resistance Level: $3.2457

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 4.27% on Tuesday. Reversing a 1.38% gain from Monday, Ethereum ended the day at $378.88.

A bullish start to the day saw Ethereum rise to an early morning intraday high $398.30 before hitting reverse.

Falling short of the first major resistance level at $402.18, Ethereum slid to a late intraday low $364.77.

Ethereum fell through the first major support level at $387.41 and the second major support level at $379.04.

EOS slid by 7.30% on Tuesday. Reversing a 6.91% rally from Monday, EOS ended the day at $3.0037.

It was another mixed start to the day. EOS rose to […]

Leave a Reply