EOS & Ethereum Daily Tech Analysis – 17/09/19


EOS rose by 0.33% on Monday. Following on from a 7.81% rally from the previous week, EOS ended the day at $4.1007.

A particularly choppy day saw EOS rise to an early morning intraday high $4.1648. EOS broke through the first major resistance level at $4.1582 before hitting reverse.

Tracking the broader market, EOS slid to an early afternoon intraday low $3.9545. The sell-off saw EOS fall through the first major support level at $4.0158, whilst steering clear of the second major support level at $3.9467.

Finding support from the broader market, EOS bounced back to $4.1 levels late in the day to end the day in the green.

In spite of the upward trend, the extended bearish trend formed back at April 2018’s swing hi $23.03, remained firmly intact. EOS continued to fall short of the 23.6% FIB of $6.62 following a pullback from $8.65 levels in late June.

At the time of writing, EOS was down by 0.84% to $4.0661. A bearish start to the day saw EOS fall from a morning high $4.1009 to a low $4.0561.

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

For the day ahead

EOS would need to move back through to $4.0750 levels to support a run at the first major resistance level at $4.1922.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $4.1648.

In the event of a broad-based crypto rally, a break out from $4.19 levels could bring the second major resistance level at $4.2836 into play.

Failure to move back through to $4.0750 levels would bring the first major support level at $3.9819 into play.

Barring an extended sell-off through the day, however, EOS should steer clear of sub-$3.90 support levels.

Looking at the Technical Indicators

Major Support Level: $3.9819

Major Resistance Level: $4.1922

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82


Ethereum rallied by 4.37% on Monday. Following on from last week’s 4.26% gain, Ethereum ended the day…

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