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Daily Tech Analysis For Leading Crypto Coins

Ripple’s XRP has started off the day in a bearish move. It has just visited sub -$0.20 price levels in the past couple of hours. This could take any turn, before moving in the right direction. Other major crypto assets have also recorded changes.

Starting With EOS

On Monday, EOS dropped by 7.48%, but still closed the day at $2.3809. Looking at the wider market, the coin dropped to $2.5257 from $2.5773. It later fell through the initial key support level at $2.5456. Before hitting reverse, the coin recovered to $2.57.

The reverse made it drop to major support levels to a low of $2.2816. It, however, didn’t manage to break back via the key support levels to a low of $2.2816.

At the moment, the crypto coin is trading at $2.3519. It dropped by 1.22%. A bearish start to the day saw the crypto asset drop to $2.3412. It did not test the major resistance and support levels.

Tech Analysis For Ethereum

Ethereum had a bearish start earlier on. This made it fall from an earlier high price of $142.53. It later moved to a mid-morning low of $140.11. The coin later recovered to the levels of $141.9 before a meltdown later on. It also obtained support at the first major price level of $140.12.

Ethereum is currently trading at $131.50. It has dropped by 0.65%. The day had a mixed start that saw the coin rise to an early morning high of $132.66 before dropping.

How Ripple’s XRP Has Been Trading

On Monday, this crypto coin fell by 5.33%. At the end of the day, Ripple’s XRP was trading at $0.20670. There was a bearish start earlier on that saw the price fall through the first major support level at $0.2158. It moved to $0.2117, the late morning low price.

Ripple tried to find support in the late morning trading hours. But through this, it recovered to the levels of $0.2150. This is before it dropped to the market forces. The coin spent most of the trading hours tumbling through the major support levels to an intraday low of $0.20336. But it stabilizes later on.

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XRP For The Day Ahead

A move past the support levels of $0.2095 will mean a lot for this coin. It would support the first initial major resistance level at the price of $0.2156. Great support for the wider market is still needed here. This is the only thing that will make XRP break out from the first major support level.

The major support levels are at $0.2006. The 23.6% FIB Retracement level is at $0.3841, while the major resistance level is at $0.2156. The other major indicator is the 62% FIB retracement level. It is at $0.6780.

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