EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 23rd, 2020

For the day ahead

Ethereum would need to avoid a fall through the $342.22 pivot to support a run at the first major resistance level at $348.88.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $346.84.

Barring an extended crypto rally, the first major resistance level and resistance at $350 would likely cap any upside.

Failure to avoid a fall through the $342.22 pivot would bring the first major support level at $337.61 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$330 levels. The second major support level at $330.95 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $337.61

Pivot Level: $342.22

First Major Resistance Level: $348.88

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 0.86% on Tuesday. Partially reversing a 6.39% slide from Monday, Ripple’s XRP ended the day at $0.23313.

It was also a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.22950 before making a move.

Steering clear of the first major support level at $0.2241, Ripple’s XRP rose to a mid-morning high $0.23440.

Coming up short of the major resistance levels, Ripple’s XRP fell back to sub-$0.23 levels before finding support.

A late rally saw Ripple’s XRP strike a late intraday high $0.23442 before easing back to sub-$0.2340 levels.

In spite of the late rally, Ripple’s XRP fell well short of the first major resistance level at $0.2427 on the day.

At the time of writing, Ripple’s XRP was down by 0.06% to $0.23299. A bearish start to the day saw Ripple’s XRP fall to an early morning low $0.23284 before rising to a high $0.23299.

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