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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 26th, 2020

By:
Bob Mason
Updated: Jun 26, 2020, 00:47 UTC

It's a bearish start to the day. Failure to move through the early highs will bring support levels into play early in the day.

Ripple, Dash coin, Bitcoin, Monero and Ethereum

EOS

EOS fell by 0.88% on Thursday. Following on from a 2.78% slide on Wednesday, EOS ended the day at $2.4824.

It was another bullish start to the day, with EOS rising to an early morning intraday high $2.5332 before hitting reverse.

Coming up well short of the first major resistance level at $2.5852, EOS slid to an early morning intraday low $2.4346.

EOS fell through the first major support level at $2.4419 before recovering to $2.50 levels going into the afternoon.

Through the 2nd half of the day, EOS it was bearish, however, with EOS falling back to sub-$2.47 levels before steadying.

At the time of writing, EOS was down by 0.15% to $2.4786. A bearish start to the day saw EOS fall from an early morning high $2.4829 to a low $2.4786.

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

EOS/USD 26/06/20 Daily Chart

For the day ahead

EOS would need to move through the $2.4835 pivot level to support a run at the first major resistance level at $2.5322.

Support from the broader market would be needed, however, for EOS to break out from $2.50 levels.

Barring another extended crypto rally, the first major resistance level would likely leave EOS short of $2.60 levels once more.

Failure to move through the $2.4835 pivot could see EOS fall further back.

A fall through sub-$2.45 levels would bring Thursday’s low $2.4346 and the first major support level at $2.4336 into play.

Barring an extended sell-off, EOS should steer clear of the second major support level at $2.3848. A key support level sitting at $2.40 will likely come into play on the day.

Looking at the Technical Indicators

Major Support Level: $2.4336

Major Resistance Level: $2.5322

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.92% on Thursday. Following on from a 3.55% slide on Wednesday, Ethereum ended the day at $232.29.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $235.24 before hitting reverse.

Falling short of the first major resistance level at $245.43, Ethereum slid to an early morning intraday low $227.05.

Finding support at the first major support level at $227.05, Ethereum bounced back to $235 levels going into the afternoon.

Through the 2nd half of the day, it was relatively range-bound. Ethereum managed an early afternoon high $234.68 before falling to a late low $231.04.

At the time of writing, Ethereum was down by 0.10% to $232.06. A bearish start to the day saw Ethereum fall from an early morning high $232.25 to a low $231.48.

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

ETH/USD 26/06/20 Daily Chart

For the day ahead

Ethereum would need to avoid a fall back through the $231.50 pivot to support a run at the first major resistance level at $236.00.

Support from the broader market would be needed, however, for Ethereum to break out from $235 levels.

Barring another extended crypto rally, the first major resistance level and Thursday’s high $235.24 should cap any upside.

In the event of another breakout, expect a run at the second major resistance level at $239.72 and $240 levels before any pullback.

Failure to avoid a fall through the $231.50 pivot could see Ethereum spend yet another day in the red.

A fall through to sub-$230 levels would bring the first major support level at $227.81 into play.

Barring another extended sell-off, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.34 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $227.81

Major Resistance Level: $236.00

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 1.02% on Thursday. Following on from a 2.91% slide on Wednesday, Ripple’s XRP ended the day at $0.18171.

It was also a bullish start to the day for Ripple’s XRP.  Ripple’s XRP rallied to an early morning intraday high $0.18425 before hitting reverse.

Falling well short of the first major resistance level at $0.1890, Ripple’s XRP tumbled to an early morning intraday low $0.17869.

Ripple’s XRP fell through the first major support level at $0.1800 before bouncing back to $0.18400 levels.

Through the 2nd half of the day, it was also relatively range-bound, with resistance at $0.1840 pinning Ripple’s XRP back.

In spite of a late fall to a low $0.18101, ripple’s XRP avoided a fall back through the first major support level at $0.1800.

At the time of writing, Ripple’s XRP was down by 0.20% to $0.18134. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18154 to a low $0.18134.

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

XRP/USD 26/06/20 Daily Chart

For the day ahead

Ripple’s XRP will need to move back through the $0.1815 pivot to support a run at the first major resistance level at $0.1844.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.1840 levels.

Barring a broad-based crypto rally, the first major resistance level and Thursdays’ high $0.18425 would likely cap any upside.

In the event of a breakout, Ripple’s XRP could eye $0.19 levels before any pullback. The second major resistance level at $0.1871 would likely pin Ripple’s XRP back, however.

Failure to move back through the $0.1815 pivot could see Ripple’s XRP spend another day in the red.

A fall through to sub-$0.18 levels would bring the first major support level at $0.1789 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.1750 levels. The second major support level at $0.1760 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.1789

Major Resistance Level: $0.1844

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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