EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 15th, 2020

EOS

EOS fell by 1.59% on Sunday. Reversing a 0.36% gain from Saturday, EOS ended the week down by 8.62% to $2.5691.

It was a bearish start to the day. EOS fell from an early morning intraday high $2.6105 to an early afternoon intraday low $2.5252.

EOS fell through the first major support level at $2.5672 and the second major support level at $2.5280.

Finding support late in the day, EOS broke back through the major support levels to wrap up the week at $2.569 levels.

At the time of writing, EOS was down by 0.22% to $2.5634. Another bearish start to the day saw EOS fall from an early morning high $2.5703 to a low $2.5615.

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

For the day ahead

EOS would need to move through the $2.57 pivot level to take bring the first major resistance level at $2.6113 into play.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $2.6105.

Barring an extended crypto rally, the first major resistance level at $2.6113 would likely limit any upside.

Failure to move through the $2.5680 pivot could see EOS in the red for a 2^nd consecutive day.

A fall through to sub-$2.55 levels would bring the first major support level at $2.5260 into play.

Barring another crypto sell-off, however, EOS should steer well clear of the second major support level at $2.4830.

Looking at the Technical Indicators

Major Support Level: $2.5260

Major Resistance Level: $2.6113

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 2.87% on Sunday. Reversing a 0.25% gain from Saturday, Ethereum ended the week down by 5.49% to $231.34.

A mixed start to the day saw Ethereum rise to an early morning intraday high $238.59 before hitting reverse.

Falling short of the first major resistance level at $239.94, Ethereum slid to a late intraday low $229.75.

The reversal saw Ethereum fall through the first major support level at $235.25 and the second major support level at $232.34.

Finding late support, Ethereum moved back through to $231 levels to reduce the deficit on the day.

At the time of writing, Ethereum was down by 0.51% to $230.15. A bearish start to the day saw Ethereum fall from an early morning high $231.34 to a low $229.95.

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

For the day ahead

Ethereum would need to move through to $233.20 levels to support a run at the first major resistance level at $236.70.

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

Barring an extended crypto rally, the first major resistance level and Sunday’s high $238.59 should cap any upside.

Failure to move through the $233.20 pivot could see Ethereum take a hit on the day.

A fall back through to sub-$230 would bring the first major support level at $227.86 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of the second major support level at $224.39.

Looking at the Technical Indicators

Major Support Level: $227.86

Major Resistance Level: $236.70

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 1.07% on Sunday. Following on from a 0.30% decline on Saturday, Ripple’s XRP ended the week down by 6.41% to $0.19040.

It was a bearish start to the day. Ripple’s XRP slid from an early morning intraday high $0.19263 to a late intraday low $0.18875.

Ripple’s XRP fell through the first major support level at $0.1909 and the second major support level at $0.1894.

Finding late support, Ripple’s XRP briefly revisited $0.191 levels before falling back through the first major support level.

At the time of writing, Ripple’s XRP was down by 0.13% to $0.19015. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19041 to a low $0.18988.

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 to $0.1910 levels to support a run at the first major resistance level at $0.1924.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.19041.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $0.19263 would likely cap any upside.

Failure to move through the $0.1910 pivot could see Ripple’s XRP spend a 3^rd day in the red.

A fall back through the morning low $0.18988 would bring the first major support level at $0.1886 into play.

In the event of extended crypto sell-off, the second major support level at $0.1867 would likely come into play.

Looking at the Technical Indicators

Major Support Level: $0.1886

Major Resistance Level: $0.1924

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