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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 1st, 2020

EOS

EOS fell by 0.5% on Tuesday. Reversing a 0.51% gain from Monday, EOS ended June down by 11.31% to $2.3699. While down for the month, EOS gained 6.98% in the 2nd quarter.

Another mixed start to the day saw EOS rise to an early morning high $2.3906 before hitting reverse.

Falling short of the first major resistance level at $2.4230, EOS slid to an early afternoon intraday low $2.3462.

Steering clear of the first major support level at $2.3310, EOS briefly revisited $2.38 levels before sliding back into the red.

At the time of writing, EOS was down by 0.38% to $2.3610. A bearish start to the day saw EOS fall from an early morning high $2.3706 to a low $2.3593.

EOS left the major support and resistance levels untested early on.

EOS/USD 01/07/20 Daily Chart

For the day ahead

EOS would need to move through the $2.3690 pivot level to support a run at the first major resistance level at $2.3916.

Support from the broader market would be needed, however, for EOS to break back through to $2.39 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2.3906 would likely cap any upside.

Failure to move through the $2.3690 pivot could see EOS spend another day in the red.

A fall through to sub-$2.35 levels would bring the first major support level at $2.3472 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.30 levels. The second major support level at $2.3245 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.3472

Major Resistance Level: $2.3916

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.02% on Tuesday. Partially reversing a 1.28% gain from Monday, Ethereum ended June down by 2.57% to $225.48. While down for the month, Ethereum surged by 69.43% in the 2nd quarter.

Tracking the broader market, Ethereum rose to an early morning high $228.69 before hitting reverse.

Falling short of the first major resistance level at $231.53, Ethereum fell to an early afternoon intraday low $222.93.

Ethereum came within range of the first major support level at $222.53 before revisiting $226 levels.

At the time of writing, Ethereum was down by 0.21% to $225.01. A bearish start to the day saw Ethereum fall from an early morning high $225.50 to a low $224.11.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 01/07/20 Daily Chart

For the day ahead

Ethereum would need to move through the $225.70 pivot to support a run at the first major resistance level at $228.47.

Support from the broader market would be needed, however, for Ethereum to break back through to $228 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $228.69 should cap any upside.

Failure to move through the $225.70 pivot would bring the first major support level at $222.71 into play.

Barring another extended sell-off, Ethereum should steer clear of sub-$215 levels. The second major support level at $219.94 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $222.71

Major Resistance Level: $228.47

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 1.07% on Tuesday. Reversing a 0.16% gain from Monday, Ripple’s XRP ended the month down by 13.21% to $0.17569. While down for the month, Ripple’s XRP gained 0.91% in the 2nd quarter.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning high $0.17788 before hitting reverse.

Coming within range of the first major resistance level at $0.1795, Ripple’s XRP slid to an early afternoon intraday low $0.17497.

Finding support at the first major support level at $0.1752, Ripple’s XRP recovered to $0.177 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.45% to $0.17490. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.17531 to a low $0.17400.

Ripple’s XRP tested the first major support level at $0.1745 early on.

XRP/USD 01/07/20 Daily Chart

For the day ahead

Ripple’s XRP will need to move through the $0.1760 pivot to support a run at the first major resistance level at $0.1774.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.177 levels.

Barring a broad-based crypto rally, Tuesday’s high $0.17788 and the first major resistance level would likely limit any upside.

In the event of a breakout, Ripple’s XRP should break through the second major resistance level at $0.1791 and $0.18 levels before any pullback.

Failure to move through the $0.1760 pivot would bring the first major support level at $0.1745 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1733.

Looking at the Technical Indicators

Major Support Level: $0.1745

Major Resistance Level: $0.1774

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