Yahoo Finanza EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 5th, 2020
EOS
EOS rose by 1.66% on Saturday. Following on from a 2.46% rally on Friday, EOS ended the day at $2.4611.
A bullish start to the day saw EOS rally from an intraday low $2.4210 to an early morning intraday high $2.4980 before pulling back.
EOS broke through the first major resistance level at $2.4657 to come up against resistance at $2.50.
The pullback saw EOS fall back through the first major resistance level to $2.43 levels before briefly revisiting $2.48 levels.
Late in the day, the first major resistance level pinned EOS back.
At the time of writing, EOS was up by 0.07% to $2.4628. A bullish start to the day saw EOS rise from an early morning low $2.4628 to a high $2.4644.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.4600 pivot level to support a run at the first major resistance level at $2.4991.
Support from the broader market would be needed, however, for EOS to move back through to Saturday’s high $2.4980.
Barring another extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside.
Failure to avoid a fall through the $2.4600 pivot could see EOS struggle on the day.
A fall through to sub-$2.45 levels would bring the first major support level at $2.4221 into play.
Barring another extended sell-off, EOS should steer clear of sub-$2.35 levels. The second major support level at $2.3830 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $2.4221
Major Resistance Level: $2.4991
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 1.94% on Saturday. Reversing a 0.61% loss from Friday, Ethereum ended the day at $229.34.
A relatively bullish start to the day saw Ethereum rise from an intraday low $224.5 to an early morning high $226.87.
Steering clear of the major support and resistance levels, Ethereum eased back to $225 levels before making a move.
A late afternoon breakout saw Ethereum rally to an intraday high $231.04 before easing back.
Ethereum broke through the first major resistance level at $227.44 and the second major resistance level at $229.83.
A bearish end to the day saw Ethereum fall back through the second major resistance level.
At the time of writing, Ethereum was up by 0.04% to $229.43. A bullish start to the day saw Ethereum rise from an early morning low $229.18 to a high $229.58.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $228.30 pivot to support a run at the first major resistance level at $232.09.
Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $231.04.
Barring an extended crypto rally, the first major resistance level should cap any upside.
Failure to avoid a fall through the $228.30 pivot would bring the first major support level at $225.55 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$215 levels. The second major support level at $221.75 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $225.55
Major Resistance Level: $232.09
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 1.09% on Saturday. Following on from a 1.02% gain on Friday, Ripple’s XRP ended the day at $0.17834.
A bullish start to the day saw Ripple’s XRP rally from an intraday low $0.1761 to an early morning high $0.1790.
Ripple’s XRP came up against the first major resistance level at $0.1789 before falling back to sub-$0.1770 levels.
Late in the day, Ripple’s XRP bounced back to an intraday high $0.17970 before falling back to sub-$0.1780 levels.
Late support saw Ripple’s XRP break back through the first major resistance level at $0.1775.
At the time of writing, Ripple’s XRP was down by 0.01% to $0.17833. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.17809 before rising to a high $0.17880.
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 $0.1780 pivot to support a run at the first major resistance level at $0.1800.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.1797.
Barring a broad-based crypto rally, Saturday’s high $0.1797 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 $0.1816 before any pullback.
Failure to avoid a fall through the $0.1780 pivot would bring the first major support level at $0.1764 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.1750 and the second major support level at $0.1745.
Looking at the Technical Indicators
Major Support Level: $0.1764
Major Resistance Level: $0.1800
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
