EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 19th, 2020
EOS
EOS slipped by 0.04% on Saturday. Following on from a 0.19% loss from Friday, EOS ended the day at $2.5054.
It was a bearish start to the day. EOS fell to an early morning intraday low $2.4862 before finding support.
Steering clear of the first major support level at $2.4761, EOS struck a late morning intraday high $2.5213 before easing back.
Falling short of the first major resistance level at $2.5227, EOS fell back to end the day at sub-$2.51 levels.
At the time of writing, EOS was up by 0.19% to $2.5101. A bullish start to the day saw EOS rise from an early morning low $2.5075 to a high $2.5101.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.5043 pivot level to support a run at the first major resistance level at $2.5224.
Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.5213.
Barring an extended crypto rally, the first major resistance level and Saturday’s high $2.5213 would likely cap any upside.
Failure to avoid a fall through the $2.5043 pivot would bring the first major support level at $2.4873 into play.
Barring an extended sell-off, EOS should steer clear of sub-$2.45 levels. The second major support level at $2.4692 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2.4873
Pivot Level: $2.5043
First Major Resistance Level: $2.5224
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rose by 1.33% on Saturday. Reversing a 0.33% decline from Friday, Ethereum ended the day at $235.79.
It was another mixed start to the day. Ethereum fell to an early morning intraday low $232.34 before making a move.
Steering clear of the first major support level at $230.86, Ethereum rallied to a late intraday high $236.97.
Ethereum broke through the first major resistance level at $234.54 and the second major resistance level at $236.39.
A pullback late in the day saw Ethereum fall back through the second major resistance level to sub-$236 levels.
At the time of writing, Ethereum was up by 0.17% to $236.18. A mixed start to the day saw Ethereum fall to an early morning low $235.66 before rising to a high $236.18.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $235 pivot to support a run at the first major resistance level at $237.76.
Support from the broader market would be needed, however, for Ethereum to break out from Saturday’s high $236.97.
Barring an extended crypto rally, the first major resistance level should cap any upside.
Failure to avoid a fall through the $235 pivot would bring the first major support level at $233.03 into play.
Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $230.27 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $233.03
Pivot Level: $235.00
First Major Resistance Level: $237.76
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP
Ripple’s XRP rallied by 2.94% on Saturday. Following a 0.03% loss on Friday, Ripple’s XRP ended the day at $0.20019.
It was a relatively bearish start to the day. Ripple’s XRP fell to an early morning intraday low $0.19413 before making a move.
Steering clear of the first major support level at $0.1913, Ripple’s XRP struck a late afternoon intraday high $0.20232.
Ripple’s XRP broke through the first major resistance level at $0.1982 and the second major resistance level at $0.2018.
A late pullback saw Ripple’s XRP fall back to $0.19960 levels before wrapping up the day at $0.20 levels.
At the time of writing, Ripple’s XRP was up by 0.63% to $0.20145. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.19988 before striking a high $0.20150.
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 $0.1989 pivot to support a run at the first major resistance level at $0.2036.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.20232.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high should cap any upside.
In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2070 before any pullback. Resistance at $0.21 would likely cap any upside, however.
Failure to avoid a fall through the $0.1989 pivot would bring the first major support level at $0.1954 into play.
Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.19 levels. The second major support level at $0.1907 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.1954
Pivot Level: $0.1989
First Major Resistance Level: $0.2036
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
