EOS

EOS rose by 0.71% on Wednesday. Reversing a 0.53% decline from Tuesday, EOS ended the day at $3.0510.

A bearish start to the day saw EOS fall to an early morning intraday low $3.0015 before making a move.

Steering clear of the first major support level at $2.9556, EOS rallied to a late afternoon intraday high $3.0986.

Falling short of the first major resistance level at $3.1055, EOS slid back to a low $3.0055 before finding late support.

A final hour move back through to $3.05 levels delivered the upside on the day.

At the time of writing, EOS was down by 0.16% to $3.0460. A mixed start to the day saw EOS rise to an early morning high $3.0670 before falling to a low $3.0447.

EOS left the major support and resistance levels untested early on.

EOS would need to move through the $3.0504 pivot level to support a run at the first major resistance level at $3.0992.

Support from the broader market would be needed, however, for EOS to break out from Wednesdays high $3.0986.

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

Failure to move through the $3.0504 pivot would bring the first major support level at $3.0021 into play.

Barring an extended sell-off, EOS should steer clear of the second major support level at $2.9533.

First Major Support Level: $3.0021

Pivot Level: $3.0504

First Major Resistance Level: $3.0992

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rallied by 2.94% on Wednesday. Following on from a 0.92% gain from Tuesday, Ethereum ended the day at $401.21.

A mixed start to the day saw Ethereum fall to an early morning intraday low $383.86 before making a move.

Steering clear of the first major support level at $379.11, Ethereum rallied to a late intraday high $408.00.

Ethereum broke through the first major resistance level at $402.08 before sliding back to sub-$400 levels.

Finding late support, however, Ethereum moved back through to $401 levels to end the day in the green.

At the time of writing, Ethereum was down by 0.61% to $398.80. A mixed start to the day saw Ethereum rise to an early morning high $404.03 before falling to a low $398.13.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to avoid a fall through the $397.69 pivot to support a run at the first major resistance level at $411.52.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesdays high $408.00.

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

A fall through the $397.69 pivot would bring the first major support level at $387.38 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$380 levels. The second major support level sits at $373.55.

First Major Support Level: $387.38

Pivot Level: $397.69

First Major Resistance Level: $411.52

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 0.38% on Wednesday. Following a 2.90% fall on Tuesday, Ripples XRP ended the day at $0.30239.

A bearish start to the day saw Ripples XRP fall to an early morning intraday low $0.29086 before finding support.

Steering clear of the first major support level at $0.2880, Ripples XRP rose to an early afternoon intraday high $0.30795.

Falling short of the first major resistance level at $0.3157, Ripples XRP fell back to sub-$0.30 levels before finding late support.

At the time of writing, Ripples XRP was down by 0.32% to $0.30141 A mixed start to the day saw Ripples XRP rise to an early morning high $0.30353 before falling to a low $0.30070

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to avoid a fall through the $0.3004 pivot to support a run at the first major resistance level at $0.3099.

Support from the broader market would be needed, however, for Ripples XRP to break out from Wednesdays high $0.30795.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, the 23.6% FIB of 0.3134 and the second major resistance level at $0.3175 could come into play.

Failure to avoid a fall through the $0.3004 pivot would bring the first major support level at $0.2929 into play.

Barring an extended crypto sell-off, Ripples XRP should avoid sub-$0.29 levels, however. The second major support level sits at $0.2833.

First Major Support Level: $0.2929

Pivot Level: $0.3004

First Major Resistance Level: $0.3099

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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EOS, Ethereum and Ripples XRP Daily Tech Analysis August 6th, 2020 - Yahoo Finance