eos,-ethereum-and-ripple’s-xrp-–-daily-tech-analysis-–-august-24th,-2020

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 24th, 2020

EOS

EOS fell by 1.36% on Sunday. Partially reversing a 3.48% rally from Saturday, EOS ended the week down by 14.44% to $3.3199.

A mixed start to the day saw EOS rise to an early morning intraday high $3.3887 before hitting reverse.

Falling short of the first major resistance level at $3.4444, EOS slid to a late morning intraday low $3.2293.

Steering clear of the first major support level at $3.2208, EOS revisited $3.37 levels before falling back into the red.

At the time of writing, EOS was down by 0.78% to $3.2940. A bearish start to the day saw EOS fall from an early morning high $3.3272 to a low $3.2898.

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

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For the day ahead

EOS would need to move through the $3.3126 pivot level to support a run at the first major resistance level at $3.3960.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $3.3887.

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

Failure to move through the pivot level at $3.3126 would bring the first major support level at $3.2366 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level at $3.1532 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $3.2366

Pivot Level: $3.3126

First Major resistance Level: $3.3960

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.23% on Sunday. Partially reversing a 1.96% gain from Saturday, Ethereum ended the week down by 9.92% to $390.67.

It was also a mixed start to the day. Ethereum rose to an early morning intraday high $400.0 before hitting reverse.

Falling short of the first major resistance level at $403.72, Ethereum slid to a mid-day intraday low $383.67.

Finding support at the first major support level at $383.52, Ethereum revisited $396 levels before falling back into the red.

At the time of writing, Ethereum was down by 0.38% to $389.19. A bearish start to the day saw Ethereum fall from an early morning high $391.00 to a low $388.91.

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

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For the day ahead

Ethereum would need to move through the $391.45 pivot to support a run at the first major resistance level at $399.22.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $391.00.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $400.0 would likely cap any upside.

Failure to move through the $391.45 pivot would bring the first major support level at $382.89 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367. The second major support level at $375.12 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $382.89

Pivot Level: $391.45

First Major Resistance Level: $399.22

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 0.42% on Sunday. Partially reversing a 2.50% gain from Sunday, Ripple’s XRP ended the week down by 6.52% to $0.28493.

It was a mixed start to the day. Ripple’s XRP rose to an early morning high $0.2811 before hitting reverse.

Falling short of the first major resistance level at $0.2909, Ripple’s XRP slid to a late morning intraday low $0.27773.

Finding support at the first major support level at $0.2773, Ripple’s XRP recovered to $0.287 levels before falling back into the red.

At the time of writing, Ripple’s XRP was down by 0.64% to $0.28310. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.28476 to a low $0.28310.

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

View photos

For the day ahead

Ripple’s XRP will need to move through the $0.2836 pivot to support a run at the first major resistance level at $0.2895.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.28811.

Barring an extended crypto rally, the first major resistance level and Sunday’s high should cap any upside.

Failure to move through the $0.2836 pivot would bring the first major support level at $0.2791 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2732.

Looking at the Technical Indicators

First Major Support Level: $0.2791

Pivot Level: $0.2836

First Major Resistance Level: $0.2895

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Thanks, Bob

article was originally posted on FX Empire” data-reactid=”131″ type=”text”>This article was originally posted on FX Empire

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