EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 13th, 2020

EOS

EOS rose by 3.38% on Friday. Partially reversing Thursday’s 8.86% tumble, EOS ended the day at $2.5981.

A mixed start to the day saw EOS fall to an early morning intraday low $2.4891 before making a move.

Steering clear of the first major support level at $2.3705, EOS rallied to an early afternoon intraday high $2.6199.

Falling well short of the first major resistance level at $2.7227, EOS fell back to $2.56 levels before briefly revisiting $2.60.

At the time of writing, EOS was down by 0.54% to $2.5841. A bearish start to the day saw EOS fall from an early morning high $2.5978 to a low $2.5841.

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

For the day ahead

EOS would need to avoid sub-$2.57 levels to take bring the first major resistance level at $2.6490 into play.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.6199.

Barring an extended crypto rally, the first major resistance level at $2.6490 would likely limit any upside.

Failure to avoid a fall through the $2.57 pivot could see EOS reverse Friday’s gain.

A fall back through to sub-$2.55 levels would bring the first major support level at $2.5182 into play.

Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $2.4382.

Looking at the Technical Indicators

Major Support Level: $2.5182

Major Resistance Level: $2.6490

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 3.21% on Friday. Partially reversing a 7.22% slide from Thursday, Ethereum ended the day at $237.53.

A bearish start to the day saw Ethereum fall to an early morning intraday low $227.84 before finding support.

Steering clear of the first major support level at $220.15, Ethereum rallied to an early afternoon intraday high $239.54.

Falling short of the first major resistance level at $245.21, Ethereum fell back to sub-$234 levels before finding late support.

At the time of writing, Ethereum was down by 0.33% to $236.75. A bearish start to the day saw Ethereum fall from an early morning high $237.96 to a low $236.60.

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

For the day ahead

Ethereum would need to avoid sub-$235 levels to support a run at the first major resistance level at $242.10.

Support from the broader market would be needed, however, for Ethereum to break back through to $240 levels.

Barring an extended crypto rally, the first major resistance level at $242.10 should cap any upside.

Failure to avoid sub-$235 levels could see Ethereum fall take another hit on the day.

A fall through the $235 pivot would bring the first major support level at $230.40 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$225 and the second major support level at $223.27.

Looking at the Technical Indicators

Major Support Level: $230.40

Major Resistance Level: $242.10

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 2.66% on Friday. Partially reversing a 7.44% slide from Thursday, Ripple’s XRP ended the day at $0.19309.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.18686 before making a move.

Steering clear of the first major support level at $0.1801, Ripple’s XRP rallied to a midday intraday high $0.19490.

Coming up short of the first major resistance level at $0.2000, Ripple’s XRP fell back to a low $0.19151 before finding support.

At the time of writing, Ripple’s XRP was down by 0.28% to $0.19254. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19309 to a low $0.19244.

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

For the day ahead

Ripple’s XRP will need to avoid sub-$0.1915 levels to support a run at the first major resistance level at $0.1964.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.19490.

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

Failure to avoid a fall through the $0.1915 pivot could see Ripple’s XRP reverse Friday’s partial recovery.

A fall back through to sub-$0.19 levels would bring the first major support level at $0.1883 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1836.

Looking at the Technical Indicators

Major Support Level: $0.1883

Major Resistance Level: $0.1964

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