EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 17th, 2020

For the day ahead

Ethereum would need to move through the $364.54 pivot and 38.2% FIB to support a run at the first major resistance level at $374.07.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $373.37.

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

Failure to move through the $364.53 pivot and the 38.2% FIB would bring the first major support level at $355.70 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$350 levels. The second major support level sits at $346.16.

Looking at the Technical Indicators

First Major Support Level: $355.70

Pivot Level: $364.53

First Major Resistance Level: $374.07

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 1.66% on Wednesday. Reversing a 0.92% decline from Tuesday, Ripple’s XRP ended the day at $0.24688.

It was a particularly bearish start to the day. Ripple’s XRP slumped to an early morning intraday low $0.23441 before making a move.

Ripple’s XRP fell through the first major support level at $0.2409 and the second major support level at $0.2384.

Steering clear of the third major support level at $0.2318, Ripple’s XRP bounced back to a late intraday high $0.2510.

Ripple’s XRP broke through the first major resistance level at $0.2475, before falling back to wrap up the day at sub-$0.2470 levels.

At the time of writing, Ripple’s XRP was up by 0.69% to $0.24858.  A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24710 to a high $0.24858.

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