Yahoo Finance EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 11th, 2020
EOS
EOS fell by 1.00% on Friday. Following on from al 1.15% fall on Thursday, EOS ended the day at $2.6259.
A bearish start to the day saw EOS fall from an early morning intraday high $2.6497 to a mid-morning intraday low $2.5752.
EOS fell through the first major support level at $2.5805 before finding support.
Off the back of late support, EOS broke back through to $2.63 levels before easing back.
At the time of writing, EOS was flat at $2.6260.
For the day ahead
EOS would need to avoid a fall through the $2.6169 pivot level to support a run at the first major resistance level at $2.6587.
Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.6497.
Barring an extended crypto rally, the first major resistance level and Friday’s high $2.6497 would likely cap any upside.
Failure to avoid a fall through the $2.6169 pivot would bring the first major support level at $2.5842 into play.
Barring another extended sell-off, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5424 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $2.5842
Major Resistance Level: $2.6587
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum slipped by 0.33% on Friday. Following on from a 2.07% decline on Thursday, Ethereum ended the day at $241.20.
It was also a bearish start to the day. Ethereum fell from an early morning intraday high $242.12 to mid-morning intraday low $235.56.
The pullback saw Ethereum fall through the first major support level at $236.80 before finding support. Late in the day, Ethereum moved back through to $241 levels to limit the loss on the day.
At the time of writing, Ethereum was down by 0.04% to $241.10. A mixed start to the day saw Ethereum rise to an early morning high $241.58 before falling to a low $241.05.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $239.60 pivot to support a run at the first major resistance level at $243.69.
Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $242.12.
Barring another extended crypto rally, the first major resistance level and Friday’s high should cap any upside.
Failure to avoid a fall through the $239.60 pivot would bring the first major support level at $237.13 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $233.07 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $237.13
Major Resistance Level: $243.69
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP slid by 1.69% on Friday. Following on from a 1.13% decline on Thursday, Ripple’s XRP ended the day at $0.19941.
A bearish start saw Ripple’s XRP fall from an early morning intraday high $0.20286 to an early morning intraday low $0.19238.
Ripple’s XRP fell through the first major support level at $0.1960 before finding support. Ripple’s XRP rallied moved back through to an afternoon high $0.19995 before easing back.
At the time of writing, Ripple’s XRP was down by 0.14% to $0.19914. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19957 to a low $0.19912.
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 $0.1980 pivot to support a run at the first major resistance level at $0.2041.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.20286.
Barring a broad-based crypto rally, the first major resistance level and Friday’s high $0.20286 should cap any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2087 before any pullback.
Failure to avoid a fall through the $0.1980 pivot would bring the first major support level at $0.1936 into play.
Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level sits at $0.1877.
Looking at the Technical Indicators
Major Support Level: $0.1936
Major Resistance Level: $0.2041
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
