EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 21st, 2020

EOS

EOS rose by 0.46% on Saturday. Reversing a 0.39% decline from Friday, EOS ended the day at $2.5387.

It was yet another mixed start to the day. EOS rose to an early morning high $2.5389 before hitting reverse.

Falling short of the major resistance levels, EOS slid to a late morning intraday low $2.4563 before bouncing back.

The reversal saw EOS fall through the first major support level at $2.5027 and the second major support level at $2.4797.

An afternoon recovery saw EOS rally to a late intraday high $2.5600 before easing back to sub-$2.54 levels.

EOS briefly broke through the first major resistance level at $2.5493 late in the day.

At the time of writing, EOS was up by 0.28% to $2.5458. A bullish start to the day saw EOS rise from an early morning low $2.5400 to a high $2.5497

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

For the day ahead

EOS would need to avoid a fall back through the $2.5180 pivot level to support a run at the first major resistance level at $2.5804.

Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.5600.

Barring an extended crypto rally, the first major resistance level at $2.5804 would likely limit any upside.

Failure to avoid a fall through the $2.5180 pivot could see EOS struggle on the day.

A fall through the pivot would bring the first major support level at $2.4767 into play.

Barring another extended sell-off, EOS should avoid the second major support level at $2.4146, however.

Looking at the Technical Indicators

Major Support Level: $2.4767

Major Resistance Level: $2.5804

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by just 0.06% on Saturday. Partially reversing a 1.03% fall from Friday, Ethereum ended the day at $228.80.

A bullish start to the day saw Ethereum rise to an early morning intraday high $230.67 before hitting reverse.

Falling short of the first major resistance level at $231.56, Ethereum slid to a mid-afternoon intraday low $225.50.

Ethereum fell through the first major support level at $226.09 before bouncing back to $229 levels.

A late pullback saw Ethereum wrap up the day at $228 levels.

At the time of writing, Ethereum was up by 0.09% to $229.01. A bullish start to the day saw Ethereum rise from an early morning low $228.80 to a high $229.38.

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

For the day ahead

Ethereum would need to avoid a fall through the $228.30 pivot to support a run at the first major resistance level at $231.15.

Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $230.67.

Barring an extended crypto rally, the first major resistance level at $231.15 and Saturday’s high should cap any upside.

Failure to avoid a fall through the $228.15 pivot could see Ethereum spend the day in the red.

A fall through to sub-$228 levels would bring the first major support level at $225.98 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.15 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $225.98

Major Resistance Level: $231.15

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 0.48% on Saturday. Partially revising a 1.47% decline from Friday, Ripple’s XRP ended the day at $0.18827.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.18921 before sliding into the red.

Coming up short of the first major resistance level at $0.1896, Ripple’s XRP slid to a mid-afternoon intraday low $0.18449.

Ripple’s XRP fell through the first major support level at $0.1857 before finding late support.

A late recovery saw Ripple’s XRP return to $0.189 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.18844. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.18822 before rising to a high $0.18847.

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 $0.1870 pivot to support a run at the first major resistance level at $0.1902.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.18921

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid through the $0.1870 pivot could see Ripple’s XRP spend a 4^th day in 5 in the red.

A fall through the $0.1870 pivot would bring the first major support level at $0.1854 into play.

In the event of an extended crypto sell-off, the second major support level at $0.1826 would likely come into play. Ripple’s XRP should avoid sub-$0.18 levels and the third major support level at $0.1780, however.

Looking at the Technical Indicators

Major Support Level: $0.1854

Major Resistance Level: $0.1902

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