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.

More significantly, Ethereum also fell through the 38.2% FIB of $367 before finding support.

Late in the day, Ethereum moved back through the 38.2% FIB to wrap up the day at $378 levels. The second major support level at $379.04 pinned Ethereum back.

At the time of writing, Ethereum was up by 0.20% to $379.64. A mixed start to the day saw Ethereum fall to an early morning low $377.38 before rising to a high $379.64.

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

For the day ahead

Ethereum would need to move through the $380.65 pivot to support a run at the first major resistance level at $396.53.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $398.3 should cap any upside.

Failure to move through the $380.65 pivot would bring the 38.2% FIB of $367 and the first major support level at $363.00 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$350 and the second major support level at $347.12.

Looking at the Technical Indicators

First Major Support Level: $363.00

Pivot Level: $380.65

First Major Resistance Level: $396.53

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 4.21% on Tuesday. Reversing a 2.28% gain from Monday, Ripple’s XRP ended the day at $0.28238.

Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.30744 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.3022 before sliding to a late intraday low $0.26756.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2857 and the second major support level at $0.2766.

Finding late support, however, Ripple’s XRP moved back through the second major support level.

At the time of writing, Ripple’s XRP was flat at $0.28239. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28049 before rising to a high $0.28289.

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

For the day ahead

Ripple’s XRP will need to move through the $0.2858 pivot to support a run at the first major resistance level at $0.3040.

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 and Tuesday’s high $0.30744 should cap any upside.

Failure to move through the $0.2858 pivot would bring the first major support level at $0.2641 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.25 and the second major support level at $0.2459.

Looking at the Technical Indicators

First Major Support Level: $0.2641

Pivot Level: $0.2858

First Major Resistance Level: $0.3040

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Thanks, Bob

This article was originally posted on FX Empire

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(Excerpt) Read more Here | 2020-08-11 22:26:27
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