EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 2nd, 2020

For the day ahead

Ethereum would need to avoid a fall through the $464.73 pivot to support a run at the first major resistance level at $499.79.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $488.95.

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

Failure to avoid a fall through the $464.73 pivot would bring the first major support level at $440.5 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$410 levels and the second major support level at $405.44.

Looking at the Technical Indicators

First Major Support Level: $440.5

Pivot Level: $464.73

First Major Resistance Level: $499.79

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 4.97% on Tuesday. Reversing a 0.59% decline from Monday, Ripple’s XRP ended the day at $2.9539.

It was a bearish start to the day. Ripple’s XRP slid to an early morning intraday low $0.27464 before making a move.

Ripple’s XRP fell through the first major support level at $0.2780 and the second major support level at $0.2747.

Finding support from the broader market, however, Ripple’s XRP rallied to a late intraday high $0.29946.

Ripple’s XRP broke through the day’s major resistance levels to come up against resistance at $0.30 before easing back.

While easing back, Ripple’s XRP avoided a fall through the third major resistance level at $0.2946.

At the time of writing, Ripple’s XRP was up by 3.01% to $0.30427. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.29529 to a high $0.30432.

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