EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 5th, 2020

EOS

EOS rose by 1.66% on Saturday. Following on from a 2.46% rally on Friday, EOS ended the day at $2.4611.

A bullish start to the day saw EOS rally from an intraday low $2.4210 to an early morning intraday high $2.4980 before pulling back.

EOS broke through the first major resistance level at $2.4657 to come up against resistance at $2.50.

The pullback saw EOS fall back through the first major resistance level to $2.43 levels before briefly revisiting $2.48 levels.

Late in the day, the first major resistance level pinned EOS back.

At the time of writing, EOS was up by 0.07% to $2.4628. A bullish start to the day saw EOS rise from an early morning low $2.4628 to a high $2.4644.

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

For the day ahead

EOS would need to avoid a fall through the $2.4600 pivot level to support a run at the first major resistance level at $2.4991.

Support from the broader market would be needed, however, for EOS to move back through to Saturday’s high $2.4980.

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

Failure to avoid a fall through the $2.4600 pivot could see EOS struggle on the day.

A fall through to sub-$2.45 levels would bring the first major support level at $2.4221 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.35 levels. The second major support level at $2.3830 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.4221

Major Resistance Level: $2.4991

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.94% on Saturday. Reversing a 0.61% loss from Friday, Ethereum ended the day at $229.34.

A relatively bullish start to the day saw Ethereum rise from an intraday low $224.5 to an early morning high $226.87.

Steering clear of the major support and resistance levels, Ethereum eased back to $225 levels before making a move.

A late afternoon breakout saw Ethereum rally to an intraday high $231.04 before easing back.

Ethereum broke through the first major resistance level at $227.44 and the second major resistance level at $229.83.

A bearish end to the day saw Ethereum fall back through the second major resistance level.

At the time of writing, Ethereum was up by 0.04% to $229.43. A bullish start to the day saw Ethereum rise from an early morning low $229.18 to a high $229.58.

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

For the day ahead

Ethereum would need to avoid a fall through the $228.30 pivot to support a run at the first major resistance level at $232.09.

Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $231.04.

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

Failure to avoid a fall through the $228.30 pivot would bring the first major support level at $225.55 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$215 levels. The second major support level at $221.75 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $225.55

Major Resistance Level: $232.09

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 1.09% on Saturday. Following on from a 1.02% gain on Friday, Ripple’s XRP ended the day at $0.17834.

A bullish start to the day saw Ripple’s XRP rally from an intraday low $0.1761 to an early morning high $0.1790.

Ripple’s XRP came up against the first major resistance level at $0.1789 before falling back to sub-$0.1770 levels.

Late in the day, Ripple’s XRP bounced back to an intraday high $0.17970 before falling back to sub-$0.1780 levels.

Late support saw Ripple’s XRP break back through the first major resistance level at $0.1775.

At the time of writing, Ripple’s XRP was down by 0.01% to $0.17833. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.17809 before rising to a high $0.17880.

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 $0.1780 pivot to support a run at the first major resistance level at $0.1800.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.1797.

Barring a broad-based crypto rally, Saturday’s high $0.1797 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 $0.1816 before any pullback.

Failure to avoid a fall through the $0.1780 pivot would bring the first major support level at $0.1764 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.1750 and the second major support level at $0.1745.

Looking at the Technical Indicators

Major Support Level: $0.1764

Major Resistance Level: $0.1800

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