EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 4th, 2020

EOS

EOS rose by 2.46% on Friday. Reversing a 0.71% decline from Thursday, EOS ended the day at $2.4201.

A mixed start to the day saw EOS fall to an early morning intraday low $2.3544 before making a move.

Steering clear of the first major support level at $2.3173, EOS rallied to an early afternoon intraday high $2.4556.

EOS broke through the first major resistance level at $2.3979 before falling back to $2.42 levels.

At the time of writing, EOS was up by 0.11% to $2.4228. A bullish start to the day saw EOS rise from an early morning low $2.4210 to a high $2.4243.

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

For the day ahead

EOS would need to avoid a fall through the $2.41 pivot level to support a run at the first major resistance level at $2.4657.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.4556.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $2.41 pivot could see EOS struggle on the day.

A fall through to sub-$2.40 levels would bring the first major support level at $2.3645 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.30 levels. The second major support level at $2.3088 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.3645

Major Resistance Level: $2.4657

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.61% on Friday. Following on from a 2.02% slide on Thursday, Ethereum ended the day at $225.06.

By recent standards, it was a relatively range-bound day for Ethereum.

Ethereum fell to an early morning low $225.4 before finding support.

Steering clear of the first major support level at $222.12, Ethereum rose to an early afternoon intraday high $228.26.

Falling well short of the first major resistance level at $231.49, Ethereum fell back to $224 levels. A late pullback saw Ethereum slide to an intraday low $224.31 before finding support.

Ethereum steered clear of the first major support level at $222.12 in spite of the pullback.

At the time of writing, Ethereum was up by 0.09% to $225.27. A mixed start to the day saw Ethereum fall to an early morning low $224.50 before rising to a high $225.34.

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

For the day ahead

Ethereum would need to move through the $226 pivot to support a run at the first major resistance level at $227.44.

Support from the broader market would be needed, however, for Ethereum to break back through to $227 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $228.26 should cap any upside.

Failure to move through the $226 pivot would bring the first major support level at $223.49 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$215 levels. The second major support level at $221.93 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $223.49

Major Resistance Level: $227.44

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 1.02% on Friday. Reversing a 1.02% fall from Thursday, Ripple’s XRP ended the day at $0.17656.

A bullish start to the day saw Ripple’s XRP rally from an early morning intraday low $0.17453 to a late morning intraday high $0.17899.

Ripple’s XRP broke through the first major resistance level at $0.1775 before falling back to sub-$0.1770 levels.

The first major resistance level at $0.1775 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.13% to $0.17679. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.17616 before rising to a high $0.17687.

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 $0.1767 pivot to support a run at the first major resistance level at $0.1789.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.178 levels.

Barring a broad-based crypto rally, Friday’s high $0.17899 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 $0.1812 before any pullback.

Failure to avoid a fall through the $0.1767 pivot would bring the first major support level at $0.1744 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.17 levels. The second major support level at $0.1722 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.1744

Major Resistance Level: $0.1789

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