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

EOS

EOS fell by 1.18% on Thursday. Following on from a 0.63% decline on Wednesday, EOS ended the day at $2.5045.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.5573 before hitting reverse.

Coming up short of the first major resistance level at $2.5705, EOS slid to a late morning intraday low $2.4314.

EOS fell through the first major support level at $2.5125 and the second major support level at $2.4818.

Finding support late in the day, EOS moved back through the second major support level to limit the daily loss.

At the time of writing, EOS was down by 0.09% to $2.5022. A mixed start to the day saw EOS fall from an early morning high $2.5039 to a low $2.5006.

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

For the day ahead

EOS would need to avoid a fall through the $2.4977 pivot level to support a run at the first major resistance level at $2.5641.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $2.5573.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $2.4977 pivot would bring the first major support level at $2.4382 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.40 levels. The second major support level sits at $2.3718.

Looking at the Technical Indicators

Major Support Level: $2.4382

Pivot Level: $2.4977

Major Resistance Level: $2.5641

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 2.07% on Thursday. Following on from a 0.86% fall on Wednesday, Ethereum ended the day at $233.41.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $239.16 before hitting reverse.

Falling short of the first major resistance level at $241.06, Ethereum slid to a late morning intraday low $229.77.

Ethereum fell through the first major support level at $235.98 and the second major support level at $233.63.

Finding support late in the day, Ethereum briefly revisited $234 levels before easing back.

At the time of writing, Ethereum was up by 0.03% to $233.48. A bullish start to the day saw Ethereum rise from an early morning low $233.46 to a high $233.87.

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

For the day ahead

Ethereum would need to move the $234.11 pivot to support a run at the first major resistance level at $238.46.

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

Barring an extended crypto rally, the first major resistance level and Thursday’s high $239.16 should cap any upside.

Failure to move through the $234.11 pivot would bring the first major support level at $229.07 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$220 levels. The second major support level at $224.72 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $229.07

Pivot Level: $234.11

Major Resistance Level: $238.46

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 1.58% on Thursday. Following on from a 0.92% drop on Wednesday, Ripple’s XRP ended the day at $0.19436.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.19772 before hitting reverse.

Falling short of the first major resistance level at $0.1978, Ripple’s XRP slid to a late morning intraday low $0.18857.

Ripple’s XRP fell through the day’s major support levels before finding support late in the day. A recovery to $0.1930 levels saw Ripple’s XRP break back through the third major support level at $0.1908. The second major support level at $0.1944 pinned Ripple’s XRP back.

At the time of writing, Ripple’s XRP was up by 0.01% to $0.19437. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.19478 before falling to a low $0.19437.

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 $0.1936 pivot to support a run at the first major resistance level at $0.1985.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.19772.

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

In the event of a breakout, Ripple’s XRP should test resistance at $0.20 before any pullback. The second major resistance level sits at $0.2027.

Failure to avoid a fall through the $0.1936 pivot would bring the first major support level at $0.1894 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.18 levels. The second major support level at $0.1844 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.1894

Pivot Level: $0.1936

Major Resistance Level: $0.1985

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