EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 1st, 2020

For the day ahead

Ethereum would need to avoid a fall through the $430.35 pivot to support a run at the first major resistance level at $442.54.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $439.00.

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

Failure to avoid a fall through the $430.35 pivot would bring the first major support level at $421.70 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$410 levels and the second major support level at $409.51.

Looking at the Technical Indicators

First Major Support Level: $421.70

Pivot Level: $430.35

First Major Resistance Level: $442.54

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.59% on Monday. Partially reversing a 3.28% gain from Sunday, Ripple’s XRP ended the month up by 8.32% to $0.28132.

It was a bullish start to the day. Ripple’s XRP rose to an early morning intraday high $0.28465 before hitting reverse.

Falling short of the first major resistance level at $0.2865, Ripple’s XRP slid to a mid-morning intraday low $0.27804.

Steering clear of the first major support level at $0.2767, Ripple’s XRP revisited $0.2830 levels before a 2nd pullback.

The 2nd pullback saw Ripple’s XRP fall to $0.2780 levels before bouncing back to $0.2813 levels to limit the loss.

At the time of writing, Ripple’s XRP was down by 0.09% to $0.28108. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.28140 to a low $0.28108.

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