EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 13th, 2020

EOS

EOS fell by 0.19% on Sunday. Following on from a 0.10% decline on Saturday, EOS ended the week up by 8.78% to $2.6215.

A mixed start to the day saw EOS rise from a late morning low $2.6191 to an early afternoon intraday high $2.6646.

Breaking through the first major resistance level at $2.6443, EOS came up against the second major resistance level at $2.6651 before hitting reverse.

The reversal saw EOS fall to an early afternoon intraday low $2.5679. EOS fell through the first major support level at $2.5984 and the second major support level at $2.5733.

Finding support late in the day, EOS moved back through to $2.62 levels to cut the deficit on the day.

At the time of writing, EOS was down by 0.07% to $2.6197. A mixed start to the day saw EOS rise to an early morning high $2.6261 before falling to a low $2.6197.

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

For the day ahead

EOS would need to avoid a fall through the $2.6180 pivot level to support a run at the first major resistance level at $2.6681.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $2.6646.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $2.6646 would likely cap any upside.

Failure to avoid a fall through the $2.6180 pivot would bring the first major support level at $2.5714 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5213 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.5714

Pivot Level: $2.6180

Major Resistance Level: $2.6681

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.52% on Sunday. Partially reversing a 0.87% decline on Saturday, Ethereum ended the week up by 6.67% to $242.81.

A bullish start to the day saw Ethereum rise to an early morning high $241.59 before easing back.

Ethereum came up against the first major resistance level at $241.36 before falling to sub-$240 levels.

A bullish start to the afternoon saw Ethereum strike an intraday high $243.90 before sliding to an intraday low $236.51.

Ethereum broke through the first major resistance level at $241.36 and the second major resistance level at $243.54.

The reversal saw Ethereum fall through the first major support level at $237.21 before finding support.

A late recovery saw Ethereum reverse the losses from the day to wrap the day at $242 levels

At the time of writing, Ethereum was down by 0.21% to $242.31. A mixed start to the day saw Ethereum rise to an early morning high $243.76 before falling to a low $241.36.

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

For the day ahead

Ethereum would need to avoid a fall through the $241 pivot to support a run at the first major resistance level at $245.64.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $243.9.

Barring another extended crypto rally, the first major resistance level and Sunday’s high $243.90 should cap any upside.

Failure to avoid a fall through the $241 pivot would bring the first major support level at $238.25 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $233.68 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $238.25

Pivot Level: $241

Major Resistance Level: $245.64

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 0.18% on Sunday. Following on from a 0.86% gain from Saturday, Ripple’s XRP ended the week up by 13.79% to $0.20162.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20340 before falling to a mid-morning low $0.19987.

Steering clear of the major resistance and support levels, Ripple’s XRP rallied to an early afternoon intraday high $0.20447.

Falling short of the first major resistance level at $0.2048, Ripple’s XRP tumbled to an early afternoon low $0.19805.

Finding support at the first major support level at $0.1979, Ripple’s XRP moved back through to $0.199 levels.

Late in the day, however, Ripple’s XRP slipped back to an intraday low $0.19792. Finding support at the first major support level at $0.1979, Ripple’s XRP wrapped up the day at $0.20 levels.

At the time of writing, Ripple’s XRP was down by 0.12% to $0.20138. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20210 before falling to a low $0.20103.

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 $0.2014 pivot to support a run at the first major resistance level at $0.2047.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.20447.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $0.20447 should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2078 before any pullback.

Failure to move back through the $0.2014 pivot would bring the first major support level at $0.1983 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level sits at $0.1950.

Looking at the Technical Indicators

Major Support Level: $0.1983

Pivot Level: $0.2014

Major Resistance Level: $0.2047

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