EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 14th, 2020

By August 14, 2020Ethereum
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EOS

EOS rose by 3.74% on Thursday. Following on from a 0.69% gain from Wednesday, EOS ended the day at $3.1394.

It was a mixed start to the day. EOS rose to an early morning high $3.0752 before hitting reverse.

Falling short of the first major resistance level at $3.0930, EOS slid to a late morning intraday low $2.9158.

EOS fell through the first major support level at $2.9202 before finding support going into the 2nd half of the day.

Through the 2nd half, EOS rallied to a late intraday high $3.1677 before pulling back. EOS broke through the first major resistance level at $3.0930 and the second major resistance level at $3.1604.

The pullback saw EOS fall back through the second major resistance level to wrap up the day at $3.13 levels.

At the time of writing, EOS was up by 0.39% to $3.1516. A bullish start to the day saw EOS rise from an early morning low $3.1402 to a high $3.1685.

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

For the day ahead

EOS would need to avoid a fall through the $3.0743 pivot level to support a run at the first major resistance level at $3.2328.

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

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

A fall through the $3.0743 pivot would bring the first major support level at $2.9809 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$2.90 levels. The second major support level sits at $2.8224.

Looking at the Technical Indicators

First Major Support Level: $2.9809

Pivot Level: $3.0743

First Major Resistance Level: $3.2328

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum surged by 9.73% on Thursday. Following on from a 2.20% gain from Wednesday, Ethereum ended the day at $424.94.

A mixed start to the day saw Ethereum rise to an early morning high $396.27 before hitting reverse.

Coming up against the first major resistance level at $396.16, Ethereum slid to a late morning intraday low $376.46.

Steering clear of the first major support level at $371.78, Ethereum found support going into the 2nd half of the day.

Through the 2nd half, Ethereum jumped to a late intraday high $432.94. Ethereum broke through day’s major resistance levels before easing back through the third major resistance level at $429.44.

At the time of writing, Ethereum was up by 0.65% to $427.7. A bullish start to the day saw Ethereum rise from an early morning low $424.99 to a high $429.75.

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

EOS rose by 3.74% on Thursday. Following on from a 0.69% gain from Wednesday, EOS ended the day at $3.1394.

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

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