EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 15th, 2020

By August 15, 2020Ethereum
Click here to view original web page at finance.yahoo.com

EOS

EOS rallied by 4.01% on Friday. Following on from a 3.74% gain on Thursday, EOS ended the day at $3.2665.

It was a mixed start to the day. EOS fell to an early morning intraday low $3.0790 before making a move.

Steering clear of the first major support level at $2.9809, EOS rallied to a late intraday high $3.2989.

EOS broke through the first major resistance level at $3.2328 before easing back to wrap up the day at $3.26 levels.

At the time of writing, EOS was 3.37% to $3.3765. A bullish start to the day saw EOS rise from an early morning low $3.2656 to a high $3.4425.

EOS broke through the first major resistance level at $3.3506 and the second major resistance at $3.4347 early on.

For the day ahead

EOS would need to avoid a fall back through the first major resistance level $3.3506 to break back through the second major resistance level at $3.4347.

Support from the broader market would be needed, however, for EOS to move back through to $3.40 levels.

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

A fall first major resistance level would bring sub-$3.30 levels into play before any recovery.

Barring an extended sell-off, however, EOS should steer clear of the pivot level at $3.2148 and the major support levels. The first major support level sits at $3.1307.

Looking at the Technical Indicators

First Major Support Level: $3.1307

Pivot Level: $3.2148

First Major Resistance Level: $3.3506

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 3.25% on Friday. Following on from Thursday’s 9.73% rally, Ethereum ended the day at $438.83.

A mixed start to the day saw Ethereum dip to an early morning intraday low $417.52 before finding support.

Steering clear of the first major support level at $389.95, Ethereum rose to a late afternoon intraday high $445.45.

Falling short of the first major resistance level at $446.43, Ethereum slipped back to end the day at sub-$440 levels.

At the time of writing, Ethereum was up by 0.02% to $438.91. A mixed start to the day saw Ethereum rise to an early morning high $441.24 before falling to a low $435.69.

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

For the day ahead

EOS rallied by 4.01% on Friday. Following on from a 3.74% gain on Thursday, EOS ended the day at $3.2665.

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

Leave a Reply