Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 6th, 2020
EOS
EOS fell by 2.10% on Sunday. Partially reversing 1.66% gain from Saturday, EOS ended the week up by 1.82% to $2.4112.
A mixed start to the day saw EOS rise to an early morning intraday high $2.4721 before hitting reverse.
Falling short of the first major resistance level at $2.4991, EOS slid to a late intraday low $2.3250.
EOS fell through the fall through the first major support level at $2.4221 and the second major support level at $2.3830.
Steering clear of the third major support level at $2.3060, EOS found late support to move back through to $2.41 levels.
At the time of writing, EOS was down by 0.05% to $2.4101. A mixed start to the day saw EOS rise from an early morning low $2.4100 to high $2.4115.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.4030 pivot level to support a run at the first major resistance level at $2.4805.
Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $2.4721.
Barring another extended crypto rally, the first major resistance level and Sunday’s high $2.4721 would likely cap any upside.
Failure to avoid a fall through the $2.4030 pivot would bring the first major support level at $2.3334 into play.
Barring another extended sell-off, EOS should steer clear of sub-$2.30 levels. The second major support level sits at $2.2557.
Looking at the Technical Indicators
Major Support Level: $2.3334
Major Resistance Level: $2.4805
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 0.73% on Sunday. Partially reversing a 1.94% gain from Saturday, Ethereum ended the week up by 1.21% to $227.67.
A mixed start to the day saw Ethereum rise to an early morning intraday high $229.93 before hitting reverse.
Falling short of the first major resistance level at $232.09, Ethereum slid to a late intraday low $223.50 before finding late support.
Ethereum fell through the first major support level at $225.55 before a late move back through to $227 levels.
At the time of writing, Ethereum was up by 0.10% to $227.89. A bullish start to the day saw Ethereum rise from an early morning low $227.62 to a high $228.23.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $227 pivot to support a run at the first major resistance level at $230.57.
Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $229.93.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $229.93 should cap any upside.
Failure to avoid a fall through the $227 pivot would bring the first major support level at $224.14 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$215 levels. The second major support level at $220.60 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $224.14
Major Resistance Level: $230.57
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slid by 0.49% on Sunday. Reversing a 1.09% gain from Saturday, Ripple’s XRP ended the week up by 0.17% to $0.17735.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.17886 before hitting reverse.
Falling short of the first major resistance level at $0.1800, Ripple’s XRP slid to a late intraday low $0.17376.
The reversal saw Ripple’s XRP slide through the first major support level at $0.1764 and the second major support level at $0.1745.
Late in the day, Ripple’s XRP moved back through to $0.177 levels to limit the loss on the day.
At the time of writing, Ripple’s XRP was up by 0.10% to $0.17753. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.17718 to a high $0.17753.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.1770 pivot to support a run at the first major resistance level at $0.1796.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.17886.
Barring a broad-based crypto rally, Sunday’s high $0.17886 and the first major resistance level would likely limit any upside.
In the event of a breakout, Ripple’s XRP should break through the second major resistance level at $0.1818 before any pullback.
Failure to avoid a fall through the $0.1770 pivot would bring the first major support level at $0.1745 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.1700. The second major support level at $0.1716 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $0.1745
Major Resistance Level: $0.1796
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
