EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 07/02/20

EOS

EOS rose by 1.12% on Thursday. Following on from a 7.18% rally on Wednesday, EOS ended the day at $4.5855.

Another mixed start to the day saw EOS fall to an early morning low $4.4607 before making a move.

Steering clear of the first major support level at $4.2751, EOS rallied to an early afternoon intraday high $4.6657.

Falling short of the first major resistance level at $4.6903, EOS slid back to a mid-afternoon intraday low $4.4285.

Continuing to steer clear of the major support levels, EOS recovered to $4.5 levels to wrap up the day in the green.

At the time of writing, EOS was up by 1.06% to $4.6341. A bullish start to the day saw EOS rise from an early morning low $4.5689 to a high $4.6555.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to move back through the morning high $4.6555 to support a run at the first major resistance level at $4.6913.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $4.6647.

Barring a broad-based crypto rally, the first major resistance level at $4.6913 and Thursday high would likely cap any upside.

Failure to move back through the morning high could see EOS fall back into the red.

A fall back through the morning low $4.5689 to sub-$4.56 levels would bring the first major support level at $4.4541 into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of the second major support level at $4.3227.

Looking at the Technical Indicators

Major Support Level: $4.4541

Major Resistance Level: $4.6913

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 4.38% on Thursday. Following on from an 8.37% rally on Wednesday, Ethereum ended the day at $212.95.

A bearish start to the day saw Ethereum fall to an early morning intraday low $200.54 before making a move.

Steering clear of the first major support level at $191.28, Ethereum rallied to an early afternoon intraday high $216.49.

Ethereum broke through the first major resistance level at $212.32 before sliding back to $205 levels.

Finding support late on, Ethereum broke back through the first major resistance level to wrap up the day at $212 levels.

At the time of writing, Ethereum was up by 2.41% to $218.08. A bullish start to the day saw Ethereum rally from an early morning low $212.94 to a high $218.89.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move back through the morning high $218.89 to support a run at the first major resistance level at $219.45.

Support from the broader market would be needed, however, for Ethereum to break through to $219 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended crypto rally, the second major resistance level at $225.94 could come into play.

Failure to move through the morning high $218.89 could see Ethereum hit reverse.

A fall through the morning low $212.94 to sub-$210 levels would bring the first major support level at $203.5 into play.

Barring a crypto meltdown, however, Ethereum should steer well clear of sub-$200 levels on the day.

Looking at the Technical Indicators

Major Support Level: $203.50

Major Resistance Level: $219.45

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 1.84% on Thursday. Following on from a 3.86% gain on Wednesday, Ripple’s XRP ended the day at $0.28294.

Tracking the broader market, Ripple’s XRP recovered from an early morning low $0.27300 to strike an early morning high $0.28700.

Ripple’s XRP broke through the first major resistance level at $0.2845 before sliding to a mid-afternoon intraday low $0.26114.

Ripple’s XRP fell through the first major support level at $0.2693. Finding support at the second major support level at $0.2608, Ripple’s XRP bounced back to a late afternoon intraday high $0.28793.

Ripple’s XRP broke back through the first major resistance level before easing back to wrap up the day at sub-$0.2830.

At the time of writing, Ripple’s XRP was up by 1.03% to $0.28585. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.28104 to a high $0.28715.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move back through the morning high $0.28715 to support a run at the first major resistance level at $0.2935.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.28793.

Barring an extended rally, however, resistance at $0.29 would likely leave Ripple’s XRP short of the first major resistance level at $0.2935.

In the event of an extended crypto rally, Ripple’s XRP could visit $0.30 levels before any pullback.

Failure to move back through the morning high $0.28715 could see Ripple’s XRP hit reverse.

A fall back through to sub-$0.2770 levels would bring the first major support level at $0.2667 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.26 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.2667

Major Resistance Level: $0.2935

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