Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 26th, 2020
EOS
EOS fell by 0.88% on Thursday. Following on from a 2.78% slide on Wednesday, EOS ended the day at $2.4824.
It was another bullish start to the day, with EOS rising to an early morning intraday high $2.5332 before hitting reverse.
Coming up well short of the first major resistance level at $2.5852, EOS slid to an early morning intraday low $2.4346.
EOS fell through the first major support level at $2.4419 before recovering to $2.50 levels going into the afternoon.
Through the 2nd half of the day, EOS it was bearish, however, with EOS falling back to sub-$2.47 levels before steadying.
At the time of writing, EOS was down by 0.15% to $2.4786. A bearish start to the day saw EOS fall from an early morning high $2.4829 to a low $2.4786.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through the $2.4835 pivot level to support a run at the first major resistance level at $2.5322.
Support from the broader market would be needed, however, for EOS to break out from $2.50 levels.
Barring another extended crypto rally, the first major resistance level would likely leave EOS short of $2.60 levels once more.
Failure to move through the $2.4835 pivot could see EOS fall further back.
A fall through sub-$2.45 levels would bring Thursday’s low $2.4346 and the first major support level at $2.4336 into play.
Barring an extended sell-off, EOS should steer clear of the second major support level at $2.3848. A key support level sitting at $2.40 will likely come into play on the day.
Looking at the Technical Indicators
Major Support Level: $2.4336
Major Resistance Level: $2.5322
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 0.92% on Thursday. Following on from a 3.55% slide on Wednesday, Ethereum ended the day at $232.29.
It was a mixed start to the day. Ethereum rose to an early morning intraday high $235.24 before hitting reverse.
Falling short of the first major resistance level at $245.43, Ethereum slid to an early morning intraday low $227.05.
Finding support at the first major support level at $227.05, Ethereum bounced back to $235 levels going into the afternoon.
Through the 2nd half of the day, it was relatively range-bound. Ethereum managed an early afternoon high $234.68 before falling to a late low $231.04.
At the time of writing, Ethereum was down by 0.10% to $232.06. A bearish start to the day saw Ethereum fall from an early morning high $232.25 to a low $231.48.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall back through the $231.50 pivot to support a run at the first major resistance level at $236.00.
Support from the broader market would be needed, however, for Ethereum to break out from $235 levels.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $235.24 should cap any upside.
In the event of another breakout, expect a run at the second major resistance level at $239.72 and $240 levels before any pullback.
Failure to avoid a fall through the $231.50 pivot could see Ethereum spend yet another day in the red.
A fall through to sub-$230 levels would bring the first major support level at $227.81 into play.
Barring another extended sell-off, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.34 should limit any downside on the day.
Looking at the Technical Indicators
Major Support Level: $227.81
Major Resistance Level: $236.00
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 1.02% on Thursday. Following on from a 2.91% slide on Wednesday, Ripple’s XRP ended the day at $0.18171.
It was also a bullish start to the day for Ripple’s XRP. Ripple’s XRP rallied to an early morning intraday high $0.18425 before hitting reverse.
Falling well short of the first major resistance level at $0.1890, Ripple’s XRP tumbled to an early morning intraday low $0.17869.
Ripple’s XRP fell through the first major support level at $0.1800 before bouncing back to $0.18400 levels.
Through the 2nd half of the day, it was also relatively range-bound, with resistance at $0.1840 pinning Ripple’s XRP back.
In spite of a late fall to a low $0.18101, ripple’s XRP avoided a fall back through the first major support level at $0.1800.
At the time of writing, Ripple’s XRP was down by 0.20% to $0.18134. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18154 to a low $0.18134.
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 the $0.1815 pivot to support a run at the first major resistance level at $0.1844.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.1840 levels.
Barring a broad-based crypto rally, the first major resistance level and Thursdays’ high $0.18425 would likely cap any upside.
In the event of a breakout, Ripple’s XRP could eye $0.19 levels before any pullback. The second major resistance level at $0.1871 would likely pin Ripple’s XRP back, however.
Failure to move back through the $0.1815 pivot could see Ripple’s XRP spend another day in the red.
A fall through to sub-$0.18 levels would bring the first major support level at $0.1789 into play.
Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.1750 levels. The second major support level at $0.1760 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $0.1789
Major Resistance Level: $0.1844
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
