EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 17th, 2020

EOS

EOS rose by 0.83% on Tuesday. Partially reversing a 1.39% fall from Monday. EOS ended the day at $2.5561.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.5219 before making a move.

Steering clear of the first major support level at $2.4469, EOS rose to an early morning intraday $2.5652 before easing back.

Falling short of the first major resistance level at $2.5964, EOS fell back to sub-$2.54 levels before a return to $2.56 levels.

An early afternoon pullback to sub-$2.53 levels and into the red was brief, with EOS moving back through $2.55 levels late on.

At the time of writing, EOS was up by 0.04% to $2.5570.  It was a relatively bullish start to the day. EOS rose from an early morning low $2.5564 to a high $2.5589 before easing back.

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

For the day ahead

EOS would need to avoid a fall through the $2.5480 pivot level to take bring the first major resistance level at $2.5736 into play.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.5652.

Barring an extended crypto rally, the first major resistance level at $2.5736 would likely limit any upside.

Failure to avoid a fall through the $2.5480 pivot could see EOS struggle on the day.

A fall back through the pivot would bring the first major support level at $2.5303 into play.

Barring another crypto sell-off, however, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5044 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.5303

Major Resistance Level: $2.5736

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.90% on Tuesday. Reversing a 0.16% fall from Monday, Ethereum ended the day at $235.34.

A mixed start to the day saw Ethereum fall to an early morning intraday low $228.78 before making a move.

Steering clear of the first major support level at $221.18, Ethereum rallied to an early afternoon intraday high $236.02.

Falling short of the first major resistance level at $237.39, Ethereum fell back to $231 levels before wrapping up the day at $235 levels.

At the time of writing, Ethereum was down by 0.13% to $235.03. A mixed start to the day saw Ethereum rise to an early morning high $235.77 before falling to a low $234.81.

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

For the day ahead

Ethereum would need to avoid a fall through the $233.40 pivot to support a run at the first major resistance level at $237.98

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $236.02.

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

Failure to avoid a fall through the $233.40 pivot could see Ethereum take another hit on the day.

A fall through to sub-$233 levels would bring the first major support level at $230.74 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of the second major support level at $226.14.

Looking at the Technical Indicators

Major Support Level: $230.74

Major Resistance Level: $237.87

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slipped by 0.08% on Tuesday. Following a trend-bucking 1.11% gain on Monday, Ripple’s XRP ended the day at $0.19247.

A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.19103 before finding support.

Steering clear of the first major support level at $0.1853, Ripple’s XRP rallied to an early morning intraday high $0.19409.

Falling short of the first major resistance level at $0.1966, Ripple’s XRP fell back to an afternoon intraday low $0.19007. Once more, Ripple’s XRP steered clear of the major support level at $0.1853.

Finding support from the broader market, however, Ripple’s XRP recovered to $0.1920 levels to end the day relatively flat.

At the time of writing, Ripple’s XRP was down by 0.02% to $0.19243. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.19264 before falling to a low $0.19222.

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 $0.1922 pivot to support a run at the first major resistance level at $0.1944.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.19409.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high would likely cap any upside.

Failure to avoid a fall through the $0.1922 pivot could see Ripple’s XRP return to the red.

A fall back through to sub-$0.1920 levels would bring the first major support level at $0.1903 into play.

Barring another crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1882.

In the event of a sell-off, the third major support level at $0.1842 would likely come into play.

Looking at the Technical Indicators

Major Support Level: $0.1903

Major Resistance Level: $0.1944

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