Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 2nd, 2020
EOS
EOS rose by 0.35% on Wednesday. Partially reversing a 0.5% decline from Tuesday, EOS ended the day at $2.3788.
A bearish start to the day saw EOS fall to an early morning intraday low $2.3592 before making a move.
Steering clear of the first major support level at $3.3472, EOS rallied to a late afternoon intraday high $2.4067.
EOS broke through the first major resistance level at $2.3916 before sliding back to sub-$2.37 levels and into the red.
Finding late support, EOS came up against the first major resistance level, with a high $2.3913 before easing back.
At the time of writing, EOS was up by 0.17% to $2.3828. A mixed start to the day saw EOS fall to an early morning low $2.3764 before rising to a high $2.3828.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.3820 pivot level to support a run at the first major resistance level at $2.4039.
Support from the broader market would be needed, however, for EOS to break back through to $2.40 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2.4067 would likely cap any upside.
Failure to avoid a fall through the $2.3690 pivot could see EOS struggle on the day.
A fall through to sub-$2.37 levels would bring the first major support level at $2.3564 into play.
Barring another extended sell-off, EOS should continue to steer clear of sub-$2.30 levels. The second major support level at $2.3341 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $2.3564
Major Resistance Level: $2.4039
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 2.45% on Wednesday. Reversing a 1.02% fall from Tuesday, Ethereum ended the day at $231.03.
Tracking the broader market, Ethereum slipped to an early morning intraday low $224.11 before making a move.
Steering clear of the first major support level at $222.71, Ethereum rallied to a late afternoon intraday high $232.77.
Ethereum broke through the first major resistance level at $228.47 and the second major resistance level at $231.46.
A late pullback saw Ethereum fall back to sub-$230 levels before returning to $231 levels. The second major resistance level capped the upside late on.
At the time of writing, Ethereum was up by 0.23% to $231.56. A mixed start to the day saw Ethereum fall to an early morning low $231.00 before rising to a high $231.69.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $229.30 pivot to support a run at the first major resistance level at $234.50.
Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $232.77.
Barring another extended crypto rally, the first major resistance level at $234.88 should cap any upside.
Failure to avoid a fall through the $229.30 pivot would bring the first major support level at $225.84 into play.
Barring another extended sell-off, Ethereum should steer clear of sub-$215 levels. The second major support level at $220.64 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $225.84
Major Resistance Level: $234.50
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 0.77% on Wednesday. Partially reversing a 1.07% fall from Tuesday, Ripple’s XRP ended the day at $0.17666.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.17400 before making a move.
Finding support at the first major support level at $0.1745, Ripple’s XRP rallied to a late afternoon intraday high $0.17840.
Ripple’s XRP broke through the first major resistance level at $0.1774 before sliding back to sub-$0.1760 levels.
A late recovery saw Ripple’s XRP move back through to $0.1777 levels before easing back. The first major resistance level capped the upside late on.
At the time of writing, Ripple’s XRP was up by 0.15% to $0.17693. A mixed start to the day saw fall to an early morning low $0.17636 before rising to a high $0.17700.
Ripple’s XRP tested the first major support level at $0.1745 early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $0.1764 pivot to support a run at the first major resistance level at $0.1787.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.1784.
Barring a broad-based crypto rally, Wednesday’s high and the first major resistance level at $0.1787 would likely limit any upside.
In the event of a breakout, Ripple’s XRP should break through the second major resistance level at $0.1808 before any pullback.
Failure to avoid a fall through the $0.1764 pivot would bring the first major support level at $0.1743 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1720.
Looking at the Technical Indicators
Major Support Level: $0.1743
Major Resistance Level: $0.1787
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
