EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 24th, 2020

EOS

EOS fell by 0.66% on Tuesday. Partially reversing a 3.10% rally from Monday, EOS ended the day at $2.5742.

It was a bullish start to the day, with EOS rising to an early morning intraday high $2.6038 before hitting reverse.

Falling well short of the first major resistance level at $2.6328, EOS slid to a mid-morning intraday low $2.5581.

Steering clear of the first major support level at $2.5316, EOS recovered to $2.59 levels by the late afternoon.

Failing to break back through to $2.60 levels, however, left EOS struggling late in the day. EOS fell back to sub-$2.57 levels before wrapping up the day at $2.57 levels.

At the time of writing, EOS was up by 0.02% to $2.5746. A mixed start to the day saw EOS rise from an early morning low $2.5746 to a high $2.5778 before easing back.

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

For the day ahead

EOS would need to move through the $2.5790 pivot level to support a run at the first major resistance level at $2.5993.

Support from the broader market would be needed, however, for EOS to break back through to $2.59 levels.

Barring another extended crypto rally, the first major resistance level and Tuesday’s high $2.6038 would likely limit any upside.

Failure to move through the $2.5790 pivot could see EOS fall further back.

A fall through to sub-$2.57 levels would bring the first major support level at $2.5536 into play.

Barring an extended sell-off, EOS should avoid sub-$2.50. The second major support level at $2.5330 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $2.5536

Major Resistance Level: $2.5993

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.05% on Tuesday. Partially reversing Monday’s 6.82% rally, Ethereum ended the day at $243.12.

A mixed start to the day saw Ethereum fall to an early morning intraday low $240.73 before finding support.

Steering clear of the first major support level at $231.3, Ethereum rose to a late intraday high $244.80 before easing back.

Falling well short of the first major resistance level at $251.05, Ethereum fell back to sub-$243 and into the red. In spite of a final hour recovery to $243 levels, Ethereum failed to close out the day in the green.

At the time of writing, Ethereum was up by 0.07% to $243.30. A mixed start to the day saw Ethereum fall to an early morning low $242.89 before striking a high $243.45.

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

For the day ahead

Ethereum would need to avoid a fall through the $242.90 pivot to support a run at the first major resistance level at $245.04.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $244.80.

Barring another extended crypto rally, the first major resistance level at $245.04 and Tuesday’s high should cap any upside.

In the event of another breakout, expect a breakthrough the second major resistance level at $246.95 to bring $250 into play.

Failure to avoid a fall through the $242.90 pivot could see Ethereum spend the day in the red.

A fall through to sub-$242 levels would bring the first major support level at $240.97 into play.

In the event of an extended sell-off, however, expect the second major support level at $238.81 to come into play.

Looking at the Technical Indicators

Major Support Level: $240.97

Major Resistance Level: $245.04

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 0.15% on Tuesday. Following a 1.91% on Monday, Ripple’s XRP ended the day at $0.18915.

It was a choppy start to the day for Ripple’s XRP.  Ripple’s XRP rose to an early morning intraday high $0.19067 before hitting reverse.

Falling short of the first major resistance level at $0.1914, Ripple’s XRP fell to a late morning intraday low $0.18851.

Steering well clear of the first major support level at $0.1867, Ripple’s XRP recovered to a late high $0.19014.

A return to $0.19 levels was brief, however, with Ripple’s XRP seeing a late pullback to end the day in the red.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.18932. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18918 before rising to a high $0.18941.

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 $0.1895 pivot to support a run at the first major resistance level at $0.1904.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.19 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesdays’ high $0.19067 would likely cap any upside.

In the event of a breakout, Ripple’s XRP could eye $0.20 levels before any pullback.

Failure to move through $0.1895 pivot could see Ripple’s XRP spend the day in the red.

A fall through the morning low $0.18918 would bring the first major support level at $0.1882 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid the third major support level at $0.1851. The second major support level at $0.1873 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.1882

Major Resistance Level: $0.1904

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