Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 07/01/20
EOS
EOS rallied by 6.32% on Monday. Following on from a 1.14% gain on Sunday, EOS ended the day at $2.8533.
A bullish start to the day saw EOS rally from an early morning intraday low $2.6830 to a late intraday high $2.8601.
Steering clear of the major support levels, EOS broke through the first major resistance level at $2.7612 and the second major resistance level at $2.8318.
At the time of writing, EOS was down by 0.11% to $2.8501. A bullish start to the day saw EOS strike an early morning high $2.8812 before sliding to a low $2.8397.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through the morning high $2.8812 to support another run at the first major resistance level at $2.9146.
Support from the broader market would be needed, however, for EOS to break through to $2.90 levels.
Barring an extended broad-based crypto rally, the first major resistance level at $2.9146 would likely limit any upside on the day.
Failure to move back through to $2.88 levels could see EOS fall deeper into the red. A fall through to sub-$2.83 would bring the first major support level at $2.7375 into play.
Barring a crypto meltdown, however, EOS should steer clear of sub-$2.70 levels.
Looking at the Technical Indicators
Major Support Level: $2.7375
Major Resistance Level: $2.9146
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 6.56% on Monday. Following on from a 0.87% gain from Sunday, Ethereum ended the day at $144.19.
Bullish through the day, Ethereum rallied from an early morning intraday low $134.78 to a late intraday high $144.51.
Steering clear of the major support levels, Ethereum broke through the first major resistance level at $138.14 and second major resistance level at $140.97.
At the time of writing, Ethereum was down by 0.38% to $143.64. A mixed start to the day saw Ethereum rise to an early morning high $145.25 before falling to a low $143.25
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to break back through to $144 levels to support a run at the first major resistance level at $147.54.
Support from the broader market would be needed for Ethereum to break out from Monday’s high $144.51.
Barring a broad-based crypto rally, however, Ethereum would likely come up short of $147 levels on the day.
In the event of an extended rally, Ethereum could eye $150 levels and the second major resistance level at $150.89.
Failure to move back through $144 levels could see Ethereum fall deeper into the red. A pullback through the morning low to sub-$141 levels would bring the first major support level at $137.81 into play.
Barring a crypto sell-off, however, Ethereum should steer well clear of sub-$140 levels.
Looking at the Technical Indicators
Major Support Level: $137.81
Major Resistance Level: $147.54
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP surged by 14.57% on Monday. Following on from a 0.39% gain on Sunday, Ripple’s XRP ended the day at $0.2230.
Bullish through the day, Ripple’s XRP rallied from an early morning intraday low $0.19461 to a late intraday high $0.22444.
Ripple’s XRP broke through the day’s major resistance levels before easing back to $0.21 levels.
Holding above the third major resistance level at $0.2037, Ripple’s XRP found support late on to wrap up the day at $0.22 levels.
At the time of writing, Ripple’s XRP was down by 0.96% to $0.22087. A mixed start to the day saw Ripple’s XRP rally from an early morning low $0.21937 to a high $0.22555.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to move back through to $0.22555 levels to support a run at the first major resistance level at $0.2334.
Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.2300 levels.
Barring an extended rally through the day, resistance at $0.2300 would likely limit any upside on the day.
In the event of another broad-based crypto rally, a visit to $0.24 levels and the second major resistance level at $0.2438 could be on the cards.
Failure to move through the morning high $0.22555 could see Ripple’s XRP struggle throughout the day.
A fall through the morning low $0.21937 to sub-$0.2140 levels would bring the first major support level at $0.2036 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.20 levels.
Looking at the Technical Indicators
Major Support Level: $0.2036
Major Resistance Level: $0.2334
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
This article was originally posted on FX Empire
