EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 7th, 2020

EOS

EOS rallied by 8.56% on Monday. Reversing a 2.10% fall from Sunday, EOS ended the day at $2.6164.

A mixed start to the day saw EOS fall to an early morning intraday low $2.4034 before making a move.

Steering clear of the first major support level at $2.3334, EOS rallied to a late afternoon high $2.6114.

EOS broke through the first major resistance level at $2.4805 and the second major resistance level at $2.5499 before pulling back.

The pullback saw EOS fall back to $2.55 levels late in the day before striking an intraday high $2.6400. In spite of the late breakout, EOS came up short of the third major resistance level at $2.6970.

At the time of writing, EOS was up by 0.20% to $2.6216. A bullish start to the day saw EOS rise from an early morning low $2.6108 to a high $2.6237.

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

For the day ahead

EOS would need to avoid a fall through the $2.5533 pivot level to support a run at the first major resistance level at $2.7031.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.6400.

Barring another extended crypto rally, the first major resistance level at $2.7031 would likely cap any upside.

Failure to avoid a fall through the $2.5533 pivot would bring the first major support level at $2.4665 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.40 levels. The second major support level sits at $2.3167.

Looking at the Technical Indicators

Major Support Level: $2.4665

Major Resistance Level: $2.7031

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 6.16% on Monday. Reversing a 0.73% fall from Sunday, Ethereum ended the day at $241.65.

A mixed start to the day saw Ethereum fall to an early morning intraday high $227.08 before making a move.

Steering clear of the first major support level at $224.14, Ethereum rallied to a late afternoon high $240.73.

Ethereum broke through the day’s major resistance levels before easing back to $237 levels. The pullback saw Ethereum fall back through the third major resistance level at $239.89.

Finding late support, Ethereum broke back through the third major resistance level to strike an intraday high $241.99.

At the time of writing, Ethereum was up by 0.42% to $242.66. A bullish start to the day saw Ethereum rise from an early morning low $241.26 to a high $243.01.

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

For the day ahead

Ethereum would need to avoid a fall through the $237 pivot to support a run at the first major resistance level at $246.73.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $243.01.

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

Failure to avoid a fall through the $237 pivot would bring the first major support level at $231.82 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$225 levels. The second major support level sits at $222.0.

Looking at the Technical Indicators

Major Support Level: $231.82

Major Resistance Level: $246.73

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rallied by 6.66% on Monday. Reversing a 0.49% fall from Sunday, Ripple’s XRP ended the day at $0.18898.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.17674 before making a move.

Steering clear of the first major support level at $0.1745, Ripple’s XRP rallied to a late afternoon high $0.18862.

Ripple’s XRP broke through the day’s major resistance levels before pulling back to $0.185 levels.

The pullback saw Ripple’s XRP fall through the third major resistance level at $0.1869 before striking an intraday high $0.18950.

At the time of writing, Ripple’s XRP was up by 0.16% to $0.18929. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18850 to a high $0.18965.

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 $0.1850 pivot to support a run at the first major resistance level at $0.1934.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.18965.

Barring another broad-based crypto rally, the first major resistance level would likely limit any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.1978 before any pullback.

Failure to avoid a fall through the $0.1850 pivot would bring the first major support level at $0.1806 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.1800 levels. The second major support level sits at $0.1723.

Looking at the Technical Indicators

Major Support Level: $0.1934

Major Resistance Level: $0.1806

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