EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 22nd, 2020

EOS

EOS fell by 0.92% on Sunday. Reversing a 0.46% gain from, Saturday, EOS ended the week down by 2.09% to $2.5166.

A bullish start to the day saw EOS rise to an early morning intraday high $2.5601 before hitting reverse.

Falling short of the first major resistance level at $2.5804, EOS slid to a late morning intraday low $2.5140.

Steering clear of the first major support level at $2.4767, EOS briefly recovered to $2.52 levels before sliding back.

At the time of writing, EOS was up by 0.13% to $2.5199. A mixed start to the day saw EOS fall to an early morning low $2.5134 before rising to a high $2.5212.

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

For the day ahead

EOS would need to move through the $2.53 pivot level to support a run at the first major resistance level at $2.5465.

Support from the broader market would be needed, however, for EOS to break out from $2.53 levels.

Barring an extended crypto rally, the first major resistance level at $2.5465 would likely limit any upside.

Failure to move through the $2.53 pivot could see EOS struggle on the day.

A fall through to sub-$2.51 levels would bring the first major support level at $2.5004 into play.

Barring an extended sell-off, EOS should avoid the second major support level at $2.4841 however.

Looking at the Technical Indicators

Major Support Level: $2.5004

Major Resistance Level: $2.5465

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.43% on Sunday. Reversing a 0.06% gain from Saturday, Ethereum ended the week down by 1.53% to $227.81.

A bullish start to the day saw Ethereum rise to an early morning intraday high $231.29 before hitting reverse.

Coming up against the first major resistance level at $231.15, Ethereum slid to a late intraday low $226.86.

Steering clear of the first major support level at $225.98, a recovery to $227 levels limited the loss on the day.

At the time of writing, Ethereum was up by 0.10% to $228.04. A mixed start to the day saw Ethereum fall to an early morning low $227.20 before rising to a high $228.07.

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

For the day ahead

Ethereum would need to move through the $229 pivot to support a run at the first major resistance level at $230.12.

Support from the broader market would be needed, however, for Ethereum to break out from $228 levels.

Barring an extended crypto rally, the first major resistance level at $230.12 and Sunday’s high should cap any upside.

Failure to move through the $229 pivot could see Ethereum spend the day in the red.

A fall through to sub-$227 levels would bring the first major support level at $226.67 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $225.53 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $226.67

Major Resistance Level: $230.12

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 1.19% on Sunday. Reversing a 0.48% gain from Saturday, Ripple’s XRP ended the week down by 2.28% to $0.18607.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.18882 before sliding into the red.

Coming up short of the first major resistance level at $0.1902, Ripple’s XRP slid to a late intraday low $0.18614.

Steering clear of the first major support level at $0.1854, briefly recovered to $0.1875 levels before sliding back.

At the time of writing, Ripple’s XRP was down by 0.08% to $0.18592. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18591 before striking a high $0.18609.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through the $0.1870 pivot to support a run at the first major resistance level at $0.1879.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.1870 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high 0.18882 would likely cap any upside.

Failure to move the $0.1870 pivot could see Ripple’s XRP spend a 4^th day in the red out of 5.

A fall back through the morning low $0.18591 would bring the first major support level at $0.1852 into play.

In the event of an extended crypto sell-off, the second major support level at $0.1843 would likely come into play. Ripple’s XRP should avoid the third major support level at $0.1817, however.

Looking at the Technical Indicators

Major Support Level: $0.1852

Major Resistance Level: $0.1879

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