EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 18th, 2020 – FX Empire


For the day ahead

Ethereum would need to avoid a fall through the $382.47 pivot to support a run at the first major resistance level at $401.53.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $394.55.

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

Failure to avoid a fall through the $382.47 pivot would bring the first major support level at $370.38 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of sub-$350 levels. The 38.2% FIB and the second major support level at $351.32 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $370.38

Pivot Level: $382.47

First Major Resistance Level: $401.53

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 2.07% on Thursday. Following on from a 1.66% gain on Wednesday, Ripple’s XRP ended the day at $0.25222.

It was a particularly bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.25849 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2538 before sliding back to a late morning intraday low $0.24613.

Steering clear of the first major support level at $0.2372, however, Ripple’s XRP bounced back to a late high $0.25531.

Ripple’s XRP broke back through the first major resistance level at $0.2538 before easing back to sub-$0.2530 levels.

At the time of writing, Ripple’s XRP was up by 0.54% to $0.25359. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25205 to a high $0.25367.

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



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