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

Bob Mason

August 13, 2020 at 8:21 PM·5 min read

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 2^nd half of the day.

Through the 2^nd 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 2^nd half of the day.

Through the 2^nd 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.

For the day ahead

Ethereum would need to avoid a fall through the $411.45 pivot to support a run at the first major resistance level at $446.43.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $432.94.

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

A fall through the $411.45 pivot would bring the first major support level at $390.00 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level sits at $355.00.

Looking at the Technical Indicators

First Major Support Level: $390.00

Pivot Level: $411.45

First Major Resistance Level: $446.43

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 4.51% on Thursday. Reversing a 0.21% decline on Wednesday, Ripple’s XRP ended the day at $0.29507.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.28587 before hitting reverse.

Falling short of the first major resistance level at $0.2892, Ripple’s XRP fell to a late morning intraday low $0.27282.

Ripple’s XRP fell through the first major support level at $0.2737 before finding support.

Through the 2^nd half, Ripple’s XRP rallied to a late intraday high $0.29570.

Ripple’s XRP broke through the first major resistance level at $0.2892 to wrap up the day at $0.29 levels.

At the time of writing, Ripple’s XRP was up by 1.32% to $0.29896. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.29491 to a high $0.29896.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2879 pivot to support a run at the first major resistance level at $0.3029.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.

Barring a broad-based crypto rally, the first major resistance level should cap any upside.

A fall through the $0.2879 pivot would bring the first major support level at $0.2800 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels on the day.

Looking at the Technical Indicators

First Major Support Level: $0.2800

Pivot Level: $0.2879

First Major Resistance Level: $0.3029

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

This article was originally posted on FX Empire

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EOS

For the day ahead

Looking at the Technical Indicators

Ethereum

For the day ahead

Looking at the Technical Indicators

Ripple’s XRP

For the day ahead

Looking at the Technical Indicators

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