EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 19th, 2020

EOS

EOS fell by 1.19% on Thursday. Reversing a 0.64% gain from Wednesday, EOS ended the day at $2.5423.

It was another mixed start to the day. EOS rose to an early morning intraday high $2.5767 before hitting reverse.

Falling short of the first major resistance level at $2.6143, EOS slid to a late intraday low $2.5000.

The reversal saw EOS fall through the first major support level at $2.5259 before finding support late in the day.

EOS moved back through the first major support level to wrap up the day at $2.54 levels. The first major support level had limited the downside late in the day.

At the time of writing, EOS was down by 0.27% to $2.5354. A bearish start to the day saw EOS fall from an end of Thursday $2.5423 to an opening $2.5354.

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

For the day ahead

EOS would need to move through the $2.5397 pivot level to take bring the first major resistance level at $2.5793 into play.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $2.5767.

Barring an extended crypto rally, the first major resistance level at $2.5793 and Thursday’s high $2.5767 would likely limit any upside.

Failure to move through the $2.5397 pivot could see EOS struggle on the day.

A fall back through the morning low $2.5354 would bring the first major support level at $2.5026 into play.

Barring another crypto sell-off, however, EOS should steer clear of the second major support level at $2.4630.

Looking at the Technical Indicators

Major Support Level: $2.5026

Major Resistance Level: $2.5793

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.09% on Thursday. Following on from a 0.70% decline on Wednesday, Ethereum ended the day at $213.05.

A mixed start to the day saw Ethereum rise to an early morning intraday high $234.50 before sliding into the red.

Falling short of the first major resistance level at $237.97, Ethereum slid to a late intraday low $227.37.

The reversal saw fall through the first major support level at $228.74 before recovering to $231 levels.

At the time of writing, Ethereum was down by just 0.01% to $231.03. A mixed start to the day saw Ethereum fall to an early morning low $230.54 before rising to a high $231.07.

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

For the day ahead

Ethereum would need to avoid a fall back through the $231 pivot to support a run at the first major resistance level at $234.58.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $234.50.

Barring another extended crypto rally, the first major resistance level and Thursday’s high $234.5 should cap any upside.

Failure to avoid a fall through the $231 pivot could see Ethereum take another hit on the day.

A fall through to sub-$230 levels would bring the first major support level at $227.45 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.84 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $227.45

Major Resistance Level: $234.58

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 1.68% on Thursday. Reversing a 0.44% gain on Wednesday, Ripple’s XRP ended the day at $0.19004.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.19328 before hitting reverse.

Falling short of the first major resistance level at $0.1987, Ripple’s XRP slid to a late intraday low $0.18837.

Steering clear of the first major support level at $0.1882, Ripple’s XRP recovered to $0.19 levels to limit the loss on the day.

At the time of writing, Ripple’s XRP was up by 0.05% to $0.19013. A choppy start to the day saw Ripple’s XRP fall to an early morning low $0.18982 before rising to a high $0.19020.

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 back through the $0.1906 pivot to support a run at the first major resistance level at $0.1928.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.1920 levels.

Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $0.19328 would likely cap any upside.

Failure to avoid a fall through the $0.1906 pivot could see Ripple’s XRP spend a 2^nd consecutive day in the red.

A fall back through to sub-$0.1900 levels would bring the first major support level at $0.1878 into play.

In the event of an extended crypto sell-off, the second major support level at $0.1857 would likely come into play. Ripple’s XRP should avoid the third major support level at $0.1807, however.

Looking at the Technical Indicators

Major Support Level: $0.1878

Major Resistance Level: $0.1928

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