EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 19th, 2020

For the day ahead

Ethereum would need to move through the first major support level and the $423.71 pivot to support a run at the first major resistance level at $432.87.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $426.97.

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

Failure to move through the first major support level and the $423.71 pivot would bring the second major support level at $403.99 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The third major support level sits at $384.27.

Looking at the Technical Indicators

First Major Support Level: $413.15

Pivot Level: $423.71

First Major Resistance Level: $432.87

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 3.98% on Tuesday. Reversing a 3.51% rally from Monday, Ripple’s XRP ended the day at $0.30292.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.32168 before hitting reverse.

Falling short of the first major resistance level at $0.3289, Ripple’s XRP slid to an early afternoon intraday low $0.29810.

Ripple’s XRP fell through the first major support level at $0.3008 before finding support.

Late in the day, Ripple’s XRP briefly revisited $0.3090 levels before falling back into the deep red.

At the time of writing, Ripple’s XRP was down by 4.93% to $0.28798. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.30603 before sliding to a low $0.28620.

Ripple’s XRP fell through the first major support level at $0.2935 early on.