Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 15th, 2020
EOS
EOS rose by 0.55% on Tuesday. Following a 2.55% fall from Monday, EOS ended the day at $2.5609.
A bearish start to the day saw EOS fall to an early morning intraday low $2.5057 before making a move.
Steering clear of the first major support level at $2.4491, EOS rose to a late intraday high $2.5791 before easing back.
Falling well short of the first major resistance level at $2.6574, EOS slipped back to sub-$2.57 levels.
At the time of writing, EOS was up by 0.14% to $2.5645. A mixed start to the day saw EOS fall to an early morning low $2.5591 before rising to a high $2.5645.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.5486 pivot level to support a run at the first major resistance level at $2.5914.
Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.5791.
Barring an extended crypto rally, the first major resistance level and resistance at $2.60 would likely cap any upside.
Failure to avoid a fall through the $2.5486 pivot would bring the first major support level at $2.5180 into play.
Barring another extended sell-off, EOS should steer clear of the second major support level at $2.4752.
Looking at the Technical Indicators
Major Support Level: $2.5180
Pivot Level: $2.5486
Major Resistance Level: $2.5914
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 0.49% on Tuesday. Following a 1.39% decline from Monday, Ethereum ended the day at $240.43.
Tracking the broader market, Ethereum fell to an early morning intraday low $236.66 before finding support.
Steering clear of the first major support level at $235.82, Ethereum struck a late intraday high $242.01.
Falling well short of the first major resistance level at $244.22, Ethereum fell back to $240 levels before ending the day at $240 levels.
At the time of writing, Ethereum was up by 0.28% to $241.10. A bullish start to the day saw Ethereum rise from an early morning low $240.4 to a high $241.18.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $239.70 pivot to support a run at the first major resistance level at $242.74.
Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $242.01.
Barring an extended crypto rally, the first major resistance level and resistance at $243 should cap any upside.
Failure to avoid a fall through the $239.70 pivot would bring the first major support level at $237.39 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $234.35 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $237.39
Pivot Level: $239.70
Major Resistance Level: $242.74
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 0.10% on Tuesday. Following a 1.31% fall from Monday, Ripple’s XRP ended the day at $0.19924.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.19527. Steering clear of the first major support level at $0.1919, Ripple’s XRP rose to a mid-day intraday high $0.20024.
Falling short of the first major resistance level at $0.2064, Ripple’s XRP slipped back to end the day at sub-$0.20.
At the time of writing, Ripple’s XRP was up by 0.34% to $0.19991. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.19918 before striking a high $0.19992.
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 $0.1983 pivot to support a run at the first major resistance level at $0.2012.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.20024.
Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $0.20024 should cap any upside.
In the event of a breakout, Ripple’s XRP should test resistance at $0.21 before any pullback. The third major resistance level sits at $0.2082.
Failure to avoid a fall through the $0.1983 pivot would bring the first major support level at $0.1963 into play.
Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.19 levels. The second major support level at $0.1933 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $0.1963
Pivot Level: $0.1983
Major Resistance Level: $0.2012
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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