Yahoo Finanza EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 10th, 2020
EOS
EOS fell by 1.15% on Thursday. Partially reversing Wednesday’s 4.80% rally, EOS ended the day at $2.6523.
It was a mixed start to the day. EOS fell to an early morning low $2.63 before rising to a mid-morning intraday high $2.7296.
Falling short of the first major resistance level at $2.7474 EOS fell to an early evening intraday low $2.5833.
Finding support at the first major support level at $2.5855, EOS recovered to $2.65 levels to limit the downside.
At the time of writing, EOS was down by 0.28% to $2.6450. A bearish start to the day saw EOS fall from a Thursday $2.6523 to an early low $2.6450.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through the $2.6550 pivot level to support a run at the first major resistance level at $2.7268.
Support from the broader market would be needed, however, for EOS to break back through to $2.70 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $2.7296 would likely cap any upside.
Failure to move through the $2.6550 pivot would bring the first major support level at $2.5805 into play.
Barring another extended sell-off, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5088 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $2.5805
Major Resistance Level: $2.7268
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 2.07% on Thursday. Partially reversing a 3.25% gain from Wednesday, Ethereum ended the day at $242.00.
It was also a mixed start to the day. Ethereum fall to an early morning low $243.10 before striking a mid-day intraday high $247.67.
Falling well short of the first major resistance level at $251.46, Ethereum slid to a mid-afternoon intraday low $237.04.
Ethereum fell through the first major support level at $240.37 before recovering to $242 levels.
At the time of writing, Ethereum was down by 0.47% to $240.87. A bearish start to the day saw Ethereum fall from an early morning high $242.12 to a low $240.72.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through the $242.24 pivot to support a run at the first major resistance level at $247.43.
Support from the broader market would be needed, however, for Ethereum to break back through to $247 levels.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $247.67 should cap any upside.
Failure to move through the $242.24 pivot would bring the first major support level at $236.80 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $231.61 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $236.80
Major Resistance Level: $247.43
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP fell by 1.13% on Thursday. Partially reversing Wednesday’s 10.98% breakout, Ripple’s XRP ended the day at $0.20276.
A bearish start saw Ripple’s XRP fall to an early morning low $0.19785 before making a move.
Steering clear of the first major support level at $0.1910, Ripple’s XRP rallied to a mid-day intraday high $0.21199.
Falling short of the first major resistance level at $0.2138, Ripple’s XRP slid to a late afternoon intraday low $0.19718.
Steering clear of the first major support level, Ripple’s XRP recovered to $0.2020 levels to limit the downside.
At the time of writing, Ripple’s XRP was down by 0.66% to $0.20143. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.20286 to a low $0.20142.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move through the $0.2040 pivot to support a run at the first major resistance level at $0.2108.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.21 levels.
Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $0.21199 should cap any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2188 before any pullback.
Failure to move through the $0.2040 pivot would bring the first major support level at $0.1960 into play.
Barring another extended crypto sell-off, however, Ripple’s XRP should avoid sub-$0.1900 levels. The second major support level sits at $0.1892.
Looking at the Technical Indicators
Major Support Level: $0.1960
Major Resistance Level: $0.2108
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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