Yahoo Finanza EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 7th, 2020
EOS
EOS rallied by 8.56% on Monday. Reversing a 2.10% fall from Sunday, EOS ended the day at $2.6164.
A mixed start to the day saw EOS fall to an early morning intraday low $2.4034 before making a move.
Steering clear of the first major support level at $2.3334, EOS rallied to a late afternoon high $2.6114.
EOS broke through the first major resistance level at $2.4805 and the second major resistance level at $2.5499 before pulling back.
The pullback saw EOS fall back to $2.55 levels late in the day before striking an intraday high $2.6400. In spite of the late breakout, EOS came up short of the third major resistance level at $2.6970.
At the time of writing, EOS was up by 0.20% to $2.6216. A bullish start to the day saw EOS rise from an early morning low $2.6108 to a high $2.6237.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.5533 pivot level to support a run at the first major resistance level at $2.7031.
Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.6400.
Barring another extended crypto rally, the first major resistance level at $2.7031 would likely cap any upside.
Failure to avoid a fall through the $2.5533 pivot would bring the first major support level at $2.4665 into play.
Barring another extended sell-off, EOS should steer clear of sub-$2.40 levels. The second major support level sits at $2.3167.
Looking at the Technical Indicators
Major Support Level: $2.4665
Major Resistance Level: $2.7031
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 6.16% on Monday. Reversing a 0.73% fall from Sunday, Ethereum ended the day at $241.65.
A mixed start to the day saw Ethereum fall to an early morning intraday high $227.08 before making a move.
Steering clear of the first major support level at $224.14, Ethereum rallied to a late afternoon high $240.73.
Ethereum broke through the day’s major resistance levels before easing back to $237 levels. The pullback saw Ethereum fall back through the third major resistance level at $239.89.
Finding late support, Ethereum broke back through the third major resistance level to strike an intraday high $241.99.
At the time of writing, Ethereum was up by 0.42% to $242.66. A bullish start to the day saw Ethereum rise from an early morning low $241.26 to a high $243.01.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $237 pivot to support a run at the first major resistance level at $246.73.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $243.01.
Barring another extended crypto rally, the first major resistance level should cap any upside.
Failure to avoid a fall through the $237 pivot would bring the first major support level at $231.82 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$225 levels. The second major support level sits at $222.0.
Looking at the Technical Indicators
Major Support Level: $231.82
Major Resistance Level: $246.73
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rallied by 6.66% on Monday. Reversing a 0.49% fall from Sunday, Ripple’s XRP ended the day at $0.18898.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.17674 before making a move.
Steering clear of the first major support level at $0.1745, Ripple’s XRP rallied to a late afternoon high $0.18862.
Ripple’s XRP broke through the day’s major resistance levels before pulling back to $0.185 levels.
The pullback saw Ripple’s XRP fall through the third major resistance level at $0.1869 before striking an intraday high $0.18950.
At the time of writing, Ripple’s XRP was up by 0.16% to $0.18929. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18850 to a high $0.18965.
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 $0.1850 pivot to support a run at the first major resistance level at $0.1934.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.18965.
Barring another broad-based crypto rally, the first major resistance level would likely limit any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.1978 before any pullback.
Failure to avoid a fall through the $0.1850 pivot would bring the first major support level at $0.1806 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.1800 levels. The second major support level sits at $0.1723.
Looking at the Technical Indicators
Major Support Level: $0.1934
Major Resistance Level: $0.1806
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
