EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 18th, 2020

For the day ahead

Ethereum would need to move through the $433.17 pivot to support a run at the first major resistance level at $445.83.

Support from the broader market would be needed, however, for Ethereum to break back through to $440 levels.

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

Failure to move through the $433.17 pivot would bring the first major support level at $418.83 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$410 levels. The second major support level sits at $406.17.

Looking at the Technical Indicators

First Major Support Level: $418.83

Pivot Level: $433.17

First Major Resistance Level: $445.83

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 3.51% on Monday. Following on from a 1.93% gain on Sunday, Ripple’s XRP ended the day at $0.3155.

A bearish start to the day saw Ripple’s XRP slip to an early morning intraday low $0.29734 before making a move.

Steering clear of the first major support level at $0.2962, Ripple’s XRP rallied to a late afternoon intraday high $0.32757.

Ripple’s XRP broke through the day’s major resistance levels and the 23.6% FIB of $0.3134. A late pullback saw Ripple’s XRP fall through the third major resistance level at $0.3261 to wrap up the day at sub-$0.32 levels.

At the time of writing, Ripple’s XRP was up by 0.78% to $0.31796. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.31507 before rising to a high $0.313817.

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