EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 3rd, 2020

EOS

EOS fell by 0.71% on Thursday. Reversing a 0.35% gain from Wednesday, EOS ended the day at $2.3619.

It was particularly range-bound through to the early afternoon. EOS eased to a late morning low $2.3654 before striking an early afternoon intraday high $2.3893.

EOS steered clear of the major support and resistance levels before a late afternoon slide to an intraday low $2.3087.

Failing to break out from the $2.3820 pivot weighed in the afternoon. EOS slid through the first major support level at $2.3564 and the second major support level at $2.3341.

Steering clear of sub-$2.30 EOS moved back through the major support levels to $2.36 levels to limit the loss on the day.

At the time of writing, EOS was down by 0.17% to $2.3580. A bearish start to the day saw EOS fall from an early morning high $2.3621 to a low $2.3580.

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

For the day ahead

EOS would need to avoid a fall through the $2.3530 pivot level to support a run at the first major resistance level at $2.3979.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $2.3893.

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

Failure to avoid a fall through the $2.3530 pivot could see EOS struggle on the day.

A fall through to sub-$2.35 levels would bring the first major support level at $2.3173 into play.

Barring another extended sell-off, EOS should steer clear of the second major support level at $2.2727.

Looking at the Technical Indicators

Major Support Level: $2.3173

Major Resistance Level: $2.3979

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.02% on Thursday. Partially reversing a 2.45% rally from Wednesday, Ethereum ended the day at $226.48.

A mixed start to the day saw Ethereum rise to an early morning intraday high $232.15 before hitting reverse.

Falling short of the first major resistance level at $234.50, Ethereum fell to a late morning low $226.77 before finding support.

Holding above the first major support level at $225.84, Ethereum bounced back to $231 levels before a 2^nd reversal.

The reversal saw Ethereum slide through the first major support level at $225.84 to a late afternoon intraday low $222.78.

Finding late support, Ethereum moved back through to $228 levels before easing back.

At the time of writing, Ethereum was down by 0.41% to $225.55. A bearish start to the day saw Ethereum fall from an early morning high $226.43 to a low $225.40.

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

For the day ahead

Ethereum would need to move through the $227.15 pivot to support a run at the first major resistance level at $231.49.

Support from the broader market would be needed, however, for Ethereum to break back through to $230 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $232.15 should cap any upside.

Failure to move through the $227.15 pivot would bring the first major support level at $222.12 into play.

Barring another extended sell-off, Ethereum should steer clear of sub-$215 levels. The second major support level at $217.77 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $222.12

Major Resistance Level: $231.49

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.83% on Thursday. Reversing a 0.77% gain from Wednesday, Ripple’s XRP ended the day at $0.17528.

A bearish start to the day saw Ripple’s XRP fall to a mid-morning low $0.17550 before making a move.

Steering clear of the major support levels, Ripple’s XRP struck an early afternoon intraday high $0.17746.

Falling short of the first major resistance level at $0.1787, Ripple’s XRP slid to a late afternoon intraday low $0.17234.

Ripple’s XRP fell through the first major support level at $0.1743 before recovering to $0.1750 levels. Steering clear of sub-$0.17 levels was key on the day.

At the time of writing, Ripple’s XRP was down by 0.01% to $0.17491. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.17453 before rising to a high $0.17491.

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 $0.1750 pivot to support a run at the first major resistance level at $0.1777.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.177 levels.

Barring a broad-based crypto rally, Thursday’s high $0.17746 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 $0.1801 before any pullback.

Failure to move through the $0.1750 pivot would bring the first major support level at $0.1726 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.16999.

Looking at the Technical Indicators

Major Support Level: $0.1726

Major Resistance Level: $0.1777

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