EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 07/03/20

EOS

EOS slid by 5.13% on Saturday. Reversing a 1.92% gain from Friday, EOS ended the day at $3.6566.

A bearish start to the day saw EOS fall from an early morning intraday high $3.8626 to an early afternoon low $3.7718.

Steering clear of the major support and resistance levels, EOS recovered to $3.85 levels before hitting reverse.

The reversal saw EOS slide through the first major support level at $3.7560 to a late afternoon intraday low $3.6295.

While finding support late on, EOS failed to break back through the first major support level.

At the time of writing, EOS was down by 1.10% to $3.6163. A bearish start to the day saw EOS slide from an early morning high $3.6480 to a low $3.5852.

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

For the day ahead

EOS would need to move through to $3.72 to bring the first major resistance level at $3.8030 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $3.6480.

Barring a broad-based crypto rebound, resistance at $3.70 would likely leave EOS short of the first major resistance level and Saturday’s high $3.8626.

Failure to move through to $3.72 levels could see EOS fall deeper into the red.

A fall back through to sub-$3.60 levels would bring the first major support level at $3.5699 back into play.

Barring an extended crypto sell-off, however, EOS should steer clear of sub-$3.50 support levels.

Looking at the Technical Indicators

Major Support Level: $3.5699

Major Resistance Level: $3.8030

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 3.17% on Saturday. Partially reversing a 7.42% rally from Friday, Ethereum ended the day at $237.75.

A relatively bullish start to the day saw Ethereum rise to an early afternoon intraday high $253.01 before hitting reverse.

Ethereum broke through the first major resistance level before sliding to a final hour intraday low $236.67.

In spite of the reversal, Ethereum steered clear of the first major support level at $233.61 on the day.

At the time of writing, Ethereum was down by 3.36% to $229.77. A particularly bearish start to the day saw Ethereum slide from an early morning high $237.75 to a low $229.04.

Ethereum slid through the first major support level at $231.94 and second major resistance level at $226.14 early on.

For the day ahead

Ethereum would need to move back through the first major support level at $231.94 to $242.5 levels to support a run at the first major resistance level at $248.48.

Support from the broader market would be needed, however, for Ethereum to breakout form the morning high $237.75.

Barring a broad-based crypto rebound, resistance at $240 would likely leave Ethereum short of the major resistance levels.

Failure to move through to $242.5 levels could see Ethereum fall deeper into the red.

A fall through the second major support level at $226.14 would bring sub-$220 levels into play before any recovery.

Barring an extended crypto sell-off, Ethereum should steer well clear of the third major support level at $209.80.

Looking at the Technical Indicators

Major Support Level: $231.94

Major Resistance Level: $248.28

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 3.54% on Saturday. Reversing a 2.43% gain from Friday, Ripple’s XRP ended the day at $0.2371.

A relatively bearish start to the day saw Ripple’s XRP fall from an early morning intraday high $0.24616 to an early afternoon low $0.24057.

Finding support at the first major support level at $0.2410, Ripple’s XRP recovered to $0.2450 levels before hitting reverse.

The reversal saw Ripple’s XRP fall through the first major support level and second major support level at $0.2362 to an intraday low $0.23578.

Finding support late on, Ripple’s XRP broke back through the second major support level to limit the day’s loss.

At the time of writing, Ripple’s XRP was down by 2.06% to $0.23221. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.23689 to a low $0.23114.

Ripple’s XRP fell through the first major support level at $0.2332 early on.

For the day ahead

Ripple’s XRP will need to break back through the first major support level to $0.24 levels to support a run at the first major resistance level at $0.2436.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

Barring a broad-based crypto rebound, resistance at $0.24 would likely leave Ripple’s XRP short of the first major resistance level.

Failure to move through to $0.24 levels could see Ripple’s XRP fall deeper into the red.

A fall back through the morning low $0.23114 would bring the second major support level at $0.2293 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer well clear of sub-$0.22 levels.

Looking at the Technical Indicators

Major Support Level: $0.2332

Major Resistance Level: $0.2436

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