Home Ripple EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 2nd, 2020 – Yahoo Finance

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 2nd, 2020 – Yahoo Finance

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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

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