EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 7th, 2020

EOS

EOS rose by 1.05% on Thursday. Following a 0.71% gain on Wednesday, EOS ended the day at $3.0878.

A bearish start to the day saw EOS fall to an early morning intraday low $3.0001 before making a move.

Finding support at the first major support level at $3.0021, EOS rallied to a late intraday high $3.1789.

EOS broke through the first major resistance level at $3.0992 and the second major resistance level at $3.1475.

A late pullback saw EOS slide to $3.05 levels before briefly revisiting $3.10 levels. The first major resistance level at $3.0992 capped the upside late on.

At the time of writing, EOS was down by 0.02% to $3.0871. A mixed start to the day saw EOS fall to an early morning low $3.0805 before striking a high $3.0871.

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

EOS/USD 07/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $3.0889 pivot level to support a run at the first major resistance level at $3.1778.

Support from the broader market would be needed, however, for EOS to break back through to $3.17 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $3.1789 would likely cap any upside.

Failure to move through the $3.0889 pivot would bring the first major support level at $2.990 into play.

Barring an extended sell-off, EOS should steer clear of the second major support level at $2.9101.

Looking at the Technical Indicators

First Major Support Level: $2.990

Pivot Level: $3.0889

First Major Resistance Level: $3.1778

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.48% on Thursday. Partially reversing a 2.94% gain from Wednesday, Ethereum ended the day at $395.28.

A mixed start to the day saw Ethereum rise to an early morning intraday high $404.03 before seeing red.

Falling short of the first major resistance level at $411.52, Ethereum fell to a late intraday low $391.00.

Steering clear of the first major support level at $387.38, Ethereum recovered to $395 levels to limit the downside.

At the time of writing, Ethereum was down by 0.06% to $395.05. A mixed start to the day saw Ethereum fall to an early morning low $394.19 before rising to a high $395.34.

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

ETH/USD 07/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $396.77 pivot to support a run at the first major resistance level at $402.54.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to move through the $396.77 pivot would bring the first major support level at $389.51 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of the second major support level at $383.74.

Looking at the Technical Indicators

First Major Support Level: $389.51

Pivot Level: $396.77

First Major Resistance Level: $402.54

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 0.19% on Thursday. Following on from a 0.38% gain on Wednesday, Ripple’s XRP ended the day at $0.30296.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.29712 before finding support.

Steering clear of the first major support level at $0.2929, Ripple’s XRP rose to a mid-afternoon intraday high $0.3112.

Ripple’s XRP broke through the first major resistance level at $0.3099 before falling back to sub-$0.30 levels.

Finding late support, Ripple’s XRP moved back through to $0.3029 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.18% to $0.3024. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.30303 to a low $0.30171.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 07/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.3038 pivot to support a run at the first major resistance level at $0.3104.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.31 levels.

Barring another broad-based crypto rally, the first major resistance level and Thursday’s high $0.3112 should cap any upside.

In the event of a breakout, the 23.6% FIB of 0.3134 and the second major resistance level at $0.3178 could come into play.

Failure to move through the $0.3038 pivot would bring the first major support level at $0.2963 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels, however. The second major support level sits at $0.2897.

Looking at the Technical Indicators

First Major Support Level: $0.2963

Pivot Level: $0.3038

First Major Resistance Level: $0.3104

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

The Crypto Daily – Movers and Shakers – August 6th, 2020

Bitcoin, BTC to USD, rallied by 4.91% on Wednesday. Reversing a 0.38% decline from, Bitcoin ended the day at $11,735.8.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $11,085 before making a move.

Steering clear of the first major support level at $10,993, Bitcoin rallied to a late intraday $11,800 before easing back.

Bitcoin broke through the first major resistance level at $11,386 and the second major resistance level at $11,587.

A late pullback saw Bitcoin briefly fall through the second resistance level before wrapping up the day at $11,700 levels.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was another mixed day for the majors on Wednesday.

Binance Coin and Monero’s XMR rose by 4.48% and 3.59% to lead the pack.

Bitcoin Cash ABC (+2.71%), Bitcoin Cash SV (+2.89%), EOS (+0.71%), Ethereum (+2.94%), Litecoin (+2.29%), Ripple’s XRP (+0.38%) also found support.

It was a bearish day for the rest of the majors, however.

Cardano’s ADA (-0.99%), Stellar’s Lumen (-2.66%), Tezos (-4.04%), and Tron’s TRX (-0.68%) saw red.

In the current week, the crypto total market cap rose from a Monday low $323.88bn to a Wednesday high $352.79bn. At the time of writing, the total market cap stood at $344.35bn.

Bitcoin’s dominance fell from a Monday high 62.46% to a Tuesday low 61.24%. At the time of writing, Bitcoin’s dominance stood at 62.38%.

This Morning

At the time of writing, Bitcoin was down by 0.82% to $11,639.5. A mixed start to the day saw Bitcoin rise to an early morning high $11,799.0 before falling to a low $11,605.0.

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

Elsewhere, it was a mixed start to the day. Tezos bucked the trend early on, rising by 1.49%.

It was a bearish start for the rest of the majors, however. At the time of writing, Binance Coin was down by 1.59% to lead the way down.

BTC/USD 06/08/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,540 pivot to support a run at the first major resistance level at $11,996.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $11,800.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, the second major resistance level at $12,255 would come into play.

Failure to avoid a fall through the $11,540 pivot level would bring the first major support level at $11,280 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,000 levels. The second major support level sits at $10,825.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 6th, 2020

EOS

EOS rose by 0.71% on Wednesday. Reversing a 0.53% decline from Tuesday, EOS ended the day at $3.0510.

A bearish start to the day saw EOS fall to an early morning intraday low $3.0015 before making a move.

Steering clear of the first major support level at $2.9556, EOS rallied to a late afternoon intraday high $3.0986.

Falling short of the first major resistance level at $3.1055, EOS slid back to a low $3.0055 before finding late support.

A final hour move back through to $3.05 levels delivered the upside on the day.

At the time of writing, EOS was down by 0.16% to $3.0460. A mixed start to the day saw EOS rise to an early morning high $3.0670 before falling to a low $3.0447.

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

EOS/USD 06/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $3.0504 pivot level to support a run at the first major resistance level at $3.0992.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.0986.

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

Failure to move through the $3.0504 pivot would bring the first major support level at $3.0021 into play.

Barring an extended sell-off, EOS should steer clear of the second major support level at $2.9533.

Looking at the Technical Indicators

First Major Support Level: $3.0021

Pivot Level: $3.0504

First Major Resistance Level: $3.0992

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 2.94% on Wednesday. Following on from a 0.92% gain from Tuesday, Ethereum ended the day at $401.21.

A mixed start to the day saw Ethereum fall to an early morning intraday low $383.86 before making a move.

Steering clear of the first major support level at $379.11, Ethereum rallied to a late intraday high $408.00.

Ethereum broke through the first major resistance level at $402.08 before sliding back to sub-$400 levels.

Finding late support, however, Ethereum moved back through to $401 levels to end the day in the green.

At the time of writing, Ethereum was down by 0.61% to $398.80. A mixed start to the day saw Ethereum rise to an early morning high $404.03 before falling to a low $398.13.

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

ETH/USD 06/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $397.69 pivot to support a run at the first major resistance level at $411.52.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $408.00.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $397.69 pivot would bring the first major support level at $387.38 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$380 levels. The second major support level sits at $373.55.

Looking at the Technical Indicators

First Major Support Level: $387.38

Pivot Level: $397.69

First Major Resistance Level: $411.52

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 0.38% on Wednesday. Following a 2.90% fall on Tuesday, Ripple’s XRP ended the day at $0.30239.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.29086 before finding support.

Steering clear of the first major support level at $0.2880, Ripple’s XRP rose to an early afternoon intraday high $0.30795.

Falling short of the first major resistance level at $0.3157, Ripple’s XRP fell back to sub-$0.30 levels before finding late support.

At the time of writing, Ripple’s XRP was down by 0.32% to $0.30141 A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.30353 before falling to a low $0.30070

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 06/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.3004 pivot to support a run at the first major resistance level at $0.3099.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.30795.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, the 23.6% FIB of 0.3134 and the second major resistance level at $0.3175 could come into play.

Failure to avoid a fall through the $0.3004 pivot would bring the first major support level at $0.2929 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels, however. The second major support level sits at $0.2833.

Looking at the Technical Indicators

First Major Support Level: $0.2929

Pivot Level: $0.3004

First Major Resistance Level: $0.3099

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

The Crypto Daily – Movers and Shakers – August 5th, 2020

 

Bitcoin, BTC to USD, fell by 0.38% on Tuesday. Partially reversing a 1.52% gain from Monday, Bitcoin ended the day at $11,184.0.

It was a bullish start to the day. Bitcoin rose to an early morning intraday high $11,396.0 before hitting reverse.

Falling short of the first major resistance level at $11,474, Bitcoin slid to an early afternoon intraday low $11,003.0.

Steering clear of the first major support level at $10,961, Bitcoin briefly revisited $11,260 levels before falling back into the red.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the majors on Tuesday.

Tezos rallied by 6.32% to lead the way.

Binance Coin (+0.95%), Bitcoin Cash SC (+5.76%), Cardano’s ADA (+4.42%), Ethereum (+0.92%), Stellar’s Lumen (+5.51%), and Tron’s TRX (+2.35%) also found support.

It was a bearish day for the rest of the majors, however.

Bitcoin Cash ABC (-2.10%), EOS (-0.53%), Litecoin (-1.54%), Monero’s XMR (-2.32%), and Ripple’s XRP (-2.90%) saw red on the day.

At the start of the week, the crypto total market cap rose from a Monday low $323.12bn to a Monday high $345.20bn. At the time of writing, the total market cap stood at $333.57bn.

Bitcoin’s dominance fell from a Monday high 62.43% to a Tuesday low 61.21%. At the time of writing, Bitcoin’s dominance stood at 61.74%.

This Morning

At the time of writing, Bitcoin was down by 0.26% to $11,155.0. A bearish start to the day saw Bitcoin fall from an early morning high $11,213.1 to a low $11.085.0.

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

Elsewhere, it was a mixed start to the day. Bitcoin Cash SV bucked the trend early on, rising by 0.03%.

It was a bearish start for the rest of the majors, however. At the time of writing, Tezos (-2.93%), Stellar’s Lumen (-2.86%), and Ripple’s XRP (-2.64%) led the way down.

BTC/USD 05/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,194 pivot to support a run at the first major resistance level at $11,386.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,300 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $11,396 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,587. Expect plenty of resistance at $11,500, however.

Failure to move through the $11,194 pivot level would bring the first major support level at $10,993 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,800 levels on the day. The second major support level at $10,801 should limit any downside.

 

 

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 5th, 2020

EOS

EOS fell by 0.53% on Tuesday. Following Monday’s 3.58% rally, EOS ended the day at $3.0339.

A bullish start to the day saw EOS rise to an early morning intraday high $3.0987 before hitting reverse.

Falling short of the first major resistance level at $3.1435, EOS fell to an early afternoon intraday low $2.9488.

Steering clear of the first major support level at $2.9262, EOS revisited $3.00 levels before easing back into the red.

At the time of writing, EOS was down by 0.68% to $3.0133. A bearish start to the day saw EOS fall from an early morning high $3.0311 to a low $3.0015.

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

EOS/USD 05/08/20 Hourly Chart

For the day ahead

EOS would need to move the $3.0271 pivot level to support a run at the first major resistance level at $3.1055.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $3.0987.

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

Failure to move through the $3.0271 pivot would bring the first major support level at $2.9556 into play.

Barring an extended sell-off, EOS should steer clear of the second major support level at $2.8772

Looking at the Technical Indicators

First Major Support Level: $2.9556

Pivot Level: $3.0271

First Major Resistance Level: $3.1055

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.92% on Tuesday. Following on from a 3.77% rally on Monday, Ethereum ended the day at $389.82.

A bullish start to the day saw Ethereum rally to an early morning intraday high $403.64 before hitting reverse.

Ethereum broke through the first major resistance level at $401.83 before sliding to an early afternoon intraday low $380.67.

Steering clear of the first major support level at $368.48, Ethereum revisited $390 levels before easing back.

At the time of writing, Ethereum was down by 0.81% to $386.65. A bearish start to the day saw Ethereum fall from an early morning high $392.24 to a low $383.86.

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

ETH/USD 05/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $391.38 pivot to support a run at the first major resistance level at $402.08.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $391.38 pivot would bring the first major support level at $379.11 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level at $368.41 and the 38.2% FIB of $367 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $379.11

Pivot Level: $391.38

First Major Resistance Level: $402.08

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 2.90% on Tuesday. Partially reversing Monday’s 7.58% rally, Ripple’s XRP ended the day at $0.30124.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.3190 before hitting reverse.

Falling short of the first major resistance level at $0.3249, Ripple’s XRP fell to an early afternoon intraday low $0.29026.

While steering clear of the first major support level at $0.2892, Ripple’s XRP fell through the 23.6% FIB of $0.3134.

Finding late support, Ripple’s XRP recovered to $0.30 levels to cut the deficit on the day.

At the time of writing, Ripple’s XRP was down by 1.46% to $0.29685. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.30239 to a low $0.29418

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 05/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.3035 pivot to support a run at the 23.6% FIB of 0.3134 and the first major resistance level at $0.3167.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.31 levels.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP could revisit $0.32 levels before any pullback.

Failure to move through the $0.3035 pivot would bring the first major support level at $0.2880 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.28 levels, however. The second major support level sits at $0.2748.

Looking at the Technical Indicators

First Major Support Level: $0.2880

Pivot Level: $0.3035

First Major Resistance Level: $0.3167

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

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 4th, 2020

EOS

EOS rallied by 3.58% on Monday. Partially reversing Sunday’s 10.93% meltdown, EOS ended the day at $3.0463.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.9022 before making a move.

Steering clear of the first major support level at $2.4578, EOS rallied to a late afternoon intraday high $3.1185.

Falling short of the first major resistance level at $3.4546, EOS fell back to $3.01 levels before finding late support.

EOS moved back through to $3.04 levels to deliver the upside on the day.

At the time of writing, EOS was up by 0.67% to $3.0667. A relatively bullish start to the day saw EOS rise from an early morning low $3.0500 to a high $3.0667.

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

EOS/USD 04/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.0223 pivot level to support a run at the first major resistance level at $3.1425.

Support from the broader market would be needed, however, for EOS to break back through to $3.10 levels.

Barring another extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $3.0223 pivot would bring the first major support level at $2.9262 into play.

Barring an extended sell-off, EOS should steer well clear of the second major support level at $2.8060

Looking at the Technical Indicators

First Major Support Level: $2.9262

Pivot Level: $3.0223

First Major Resistance Level: $3.1425

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 3.77% on Monday. Reversing a 3.92% loss from Sunday, Ethereum ended the day at $386.22.

Tracking the broader market, Ethereum dipped to an early morning intraday low $366.34 before finding support.

Finding support at the 38.2% FIB of $367, Ethereum rallied to an early afternoon intraday high $399.69.

Falling short of the first major resistance level at $416.22, Ethereum fell back to $382 levels before finding late support.

A late move back through to $386 levels delivered the upside on the day.

At the time of writing, Ethereum was up by 0.75% to $389.11. A bullish start to the day saw Ethereum rise from an early morning low $386.20 to a high $389.98.

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

ETH/USD 04/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $384 pivot to support a run at the first major resistance level at $402.

Support from the broader market would be needed, however, for Ethereum to break out form Monday’s high $399.69.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $384 pivot would bring the first major support level at $368.5 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$350 levels. The 38.2% FIB of $367 and the second major support level at $350.73 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $368.5

Pivot Level: $384

First Major Resistance Level: $402

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 7.58% on Monday. Reversing a 1.25% loss from Sunday, Ripple’s XRP ended the day at $0.30974.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.28383 before making a move.

Steering clear of the first major support level at $0.2441, Ripple’s XRP rallied to a late afternoon intraday high $0.31950.

While falling short of the first major resistance level at $0.3287, Ripple’s XRP broke through the 23.6% FIB of $0.3134.

A late pullback saw Ripple’s XRP fall back to $0.3060 levels before wrapping up the day at $0.3090 levels.

At the time of writing, Ripple’s XRP was up by 2.37% to $0.31707. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.31016 to a high $0.31707.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 04/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.3044 pivot to support a run at the 23.6% FIB and the first major resistance level at $0.3249.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.3195.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP would make a run at the second major resistance level at $0.3400.

Failure to avoid a fall through the $0.3044 pivot would bring the first major support level at $0.2892 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.28 levels, however. The second major support level sits at $0.2687.

Looking at the Technical Indicators

First Major Support Level: $0.2892

Pivot Level: $0.3044

First Major Resistance Level: $0.3249

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

Bitcoin Shots to A New Yearly Highs in July

Indeed, the flagship cryptocurrency endured a prolonged stagnation period. It traded mostly within a narrow range defined by the $9,000 support and the $9,500 resistance level. But on July 22nd, the bears gave up and could no longer contain Bitcoin from achieving its upside potential. Thus, its price finally broke out of the consolidation phase, indicating that it was the beginning of a new bullish cycle.

As the buying pressure behind Bitcoin rose exponentially, so did its market value. BTC shot up over 20%, smashing through the infamous $10,000 resistance barrier. The high levels of demand were so significant on July 27th that it allowed the pioneer cryptocurrency to rise to a new yearly high of $11,488. This day was the most profitable 24 hours period of the month.

Investors appear to have taken advantage of the bullish price action to realize profits. The spike in selling pressure triggered a 7.9% correction on July 28th, which saw Bitcoin drop to a low of $10,580. As the month came to an end, sidelined investors seem to have re-entered the market, pushing prices back up. BTC was able to close July at $11,343.68, providing a monthly return of 22.86%.

Ethereum Enters Massive Bull Rally

Like Bitcoin, most of Ethereum’s price action took place in the last nine days of July. The smart contracts giant kicked off the month at $225.56 and immediately started making a series of higher highs and higher lows. This price behavior, accompanied by the boom in the DeFi sector and speculation over ETH 2.0, saw many investors grow optimistic about Ether.

Despite the positivism around this altcoin, the $245 resistance level was able to absorb any upward pressure impeding it from advancing further. On July 8th, for instance, Ethereum rose to this hurdle, but it was quickly rejected. The rejection was followed by a 7% correction pushing Ether down to $229.84.

It was not until July 22nd that Ethereum finally turned the $245 resistance wall into support. Moving past this major barrier was the catalyst that triggered FOMO (fear of missing out) among investors. As buy orders began to pile up, the second-largest cryptocurrency by market cap entered an impressive bull rally.

Ethereum skyrocketed by 42.46% to reach a new yearly high of $349.83 on July 31st. Only a few hours before the monthly close, Ether’s price dropped by 0.97%. As a result, ETH was able to end July at $346.42 and provide investors a monthly return of 53.58%.

Further Gains on the Horizon

The price action seen throughout July sent investors into “extreme greed.” Historical data reveals that when greed reigns the crypto market, exhaustion points are reached, followed by steep corrections. Although everything seems to indicate that Bitcoin and Ethereum have entered a new bull market, investors must be aware of the high probability of a retracement.

If this were to happen, market participants would likely take the opportunity to “buy the dip” and grow their long positions. A new influx of capital could propel these cryptocurrencies towards new yearly highs. As the crypto market currently stands, there are more reasons to be bullish than bearish, but it is imperative to use stop-loss orders to avoid adverse conditions.

Konstantin Anissimov, Executive Director at CEX.IO

The Crypto Daily – Movers and Shakers – August 3rd, 2020

Bitcoin, BTC to USD, slid by 6.36% on Sunday. Reversing a 4.01% rally from Saturday, Bitcoin ended the week up by 11.11% to $11,053.8.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $12,097 before hitting reverse.

Bitcoin broke through the first major resistance level at $12,022.8 before sliding to an early morning intraday low $10,548.0.

Bitcoin fell through the first major support level at $11,406.8 and the second major support level at $11,008.9.

Steering clear of the third major support level at $10,392.9, Bitcoin briefly revisited $11,300 levels before easing back.

Bitcoin broke back through the second major support level to limit the loss on the day.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Sunday.

Bitcoin Cash ABC (-11.53%), Bitcoin Cash SV (-11.14%), EOS (-10.93%) led the way down.

Cardano’s ADA (-7.16%), Litecoin (-8.02%), and Tron’s TRX (-7.24%) also saw heavy losses

Binance Coin (-3.10%), Ethereum (-3.92%), Monero’s XMR (-5.16%), Ripple’s XRP (-1.25%), Stellar’s Lumen (-4.85%), and Tezos (-4.89%) saw relatively modest losses on the day.

While it was a bearish Sunday, it was a mixed week.

Ripple’s XRP rallied by 33.5% to lead the way.

Bitcoin Cash ABC (+13.82%), Bitcoin Cash SV (+15.09%), Ethereum (+19.52%), and Litecoin (+17.95%) also found strong support.

Binance Coin (+7.10%), EOS (+8.23%), Monero’s XMR (+8.71%), Stellar’s Lumen (+3.29%), and Tron’s TRX (+2.29%) trailed the front runners.

Cardano’s ADA (-9.99%) and Tezos (-3.19%) bucked the trend in the week, however.

In the week, the crypto total market cap rose from a Monday low $284.79bn to a Sunday high $362.06bn. At the time of writing, the total market cap stood at $331.14bn.

Bitcoin’s dominance rose to a Tuesday high 64.58% before sliding to a Sunday low 61.66%. At the time of writing, Bitcoin’s dominance stood at 62.07.

This Morning

At the time of writing, Bitcoin was up by 0.69% to $11,130.5. A mixed start to the day saw Bitcoin fall to an early morning low $10,943.0 before rising to a high $11,169.0.

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

Elsewhere, it was a bullish start to the day. Stellar’s Lumen was up by 2.46%, at the time of writing, to lead the way.

BTC/USD 03/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,233 pivot to support a run at the first major resistance level at $11,918.

Support from the broader market would be needed, however, for Bitcoin to break out from $11,500 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,782.

Failure to move through the $11,233 pivot level would bring the first major support level at $10,369 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,500 levels on the day.

 

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 3rd, 2020

EOS

EOS slid by 10.93% on Sunday. Reversing a 6.71% gain from Saturday, EOS ended the week up by 8.23% to $2.9409.

It was a choppy start to the day. EOS rose to an early morning intraday high $3.4852 before hitting reverse.

EOS broke through the first major resistance level at $3.4029 before tumbling to an early morning intraday low $2.4884.

The sell-off saw EOS slide through the day’s major support levels before briefly revisiting $3.0 levels.

EOS moved back through the third major support level at $2.7121 and the second major support level at $2.9748.

It was a bearish 2nd half of the day, however. EOS fell back through the second major support level to end the day in the deep red.

At the time of writing, EOS was up by 0.75% to $2.9631. A mixed start to the day saw EOS fall to an early morning low $2.9022 before rising to a high $2.9631.

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

EOS/USD 03/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.9715 pivot level to support a run at the first major resistance level at $3.4546.

Support from the broader market would be needed, however, for EOS to break back through to $3.40 levels.

Barring another extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $2.9715 pivot would bring the first major support level at $2.4578 into play.

Barring an extended sell-off, EOS should steer well clear of the second major support level at $1.9747.

Looking at the Technical Indicators

First Major Support Level: $2.4578

Pivot Level: $2.9715

First Major Resistance Level: $3.4546

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 3.92% on Sunday. Partially reversing an 11.69% rally from Saturday, Ethereum ended the week up by 19.52% to $371.21.

Tracking the broader market, Ethereum rallied to an early morning intraday high $415.00 before hitting reverse.

Ethereum broke through the first major resistance level at $406.35 before tumbling to an early morning intraday low $325.75.

The selloff saw Ethereum fall through the first major support level at $356.1 before finding support.

More significantly, Ethereum also fell through the 38.2% FIB of $367 before the partial recovery.

Ethereum moved back through to $389 levels before falling back to end the day at sub-$380.

At the time of writing, Ethereum was up by 1.00% to $375.93. A mixed start to the day saw Ethereum fall to an early morning low $366.34 before rising to a high $376.63.

While leaving the major support and resistance levels untested, Ethereum found support at the 38.2% FIB of $367 early on.

ETH/USD 03/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $371 pivot to support a run at the first major resistance level at $416.22.

Support from the broader market would be needed, however, for Ethereum to break out form Saturday’s high $415.00.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $371 pivot would bring the first major support level at $326.97 into play.

Barring another extended sell-off, however, Ethereum should steer well clear of the second major support level at $281.74.

Looking at the Technical Indicators

First Major Support Level: $326.97

Pivot Level: $371

First Major Resistance Level: $416.22

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 1.25% on Sunday. Following a 12.06% rally on Saturday, Ripple’s XRP ended the week up by 33.50% to $0.28764.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.3262 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.3071 and the second major resistance level at $0.3233.

The reversal saw Ripple’s XRP slide through the first major support level at $0.2653 to an intraday low $0.24158.

Steering clear of sub-$0.24 support levels, Ripple’s XRP revisited $0.30 levels before falling back into the red.

In spite of the bearish day, Ripple’s XRP moved back through the first major support level to limit the loss.

At the time of writing, Ripple’s XRP was up by 2.95% to $0.29612. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28383 before rising to a high $0.29661.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 03/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2851 pivot to support a run at the first major resistance level at $0.3287.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Saturday’s high $0.3262.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP could make a run at the second major resistance level at $0.0.3698.

Failure to avoid a fall through the $0.2851 pivot would bring the first major support level at $0.2441 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.24 levels, however.

Looking at the Technical Indicators

First Major Support Level: $0.24441

Pivot Level: $0.2851

First Major Resistance Level: $0.3287

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

The Crypto Daily – Movers and Shakers – August 2nd, 2020

Bitcoin, BTC to USD, rallied by 4.01% on Saturday. Following a 2.04% gain on Friday, Bitcoin ended the day at $11,804.7.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $11,227 before making a move.

Steering clear of the first major support level at $11,080, Bitcoin rallied to a late intraday high $11,843.0.

Bitcoin broke through the first major resistance level at $11,530 and the second major resistance level at $11,710.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Saturday.

Ethereum (+11.69%), Ripple’s XRP (+12.06%), and Stellar’s Lumen (+10.76%) led the way.

Bitcoin Cash ABC (+6.05%), Bitcoin Cash SV (+5.97%), EOS (+6.71%), Litecoin (+6.01%), Monero’s XMR (+5.94%), and Tezos (+6.87%) also found strong support.

Binance Coin (+4.64%), Cardano’s ADA (+3.79%), and Tron’s TRX (+3.92%) trailed the front runners on the day.

In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Saturday high $349.72bn. At the time of writing, the total market cap stood at $348.82bn.

Bitcoin’s dominance rose from a Monday low 62.44% to a Tuesday high 64.58% before sliding back. At the time of writing, Bitcoin’s dominance stood at 62.69.

This Morning

At the time of writing, Bitcoin was down by 0.04% to $11,800. A mixed start to the day saw Bitcoin fall to an early morning low $11,788 before rising to a high $11,845.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.09%), Ethereum (+0.45%), Monero’s XMR (+0.30%), Stellar’s Limen (+0.58%), and Tron’s TRX (+0.87%) found early support.

It was a bearish start for the rest of the majors, however, with Litecoin down by 0.87% to lead the way down.

BTC/USD 02/08/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,625 pivot to support a run at the first major resistance level at $12,023.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $11,843.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,241.

Failure to avoid a fall through the $11,625 pivot level would bring the first major support level at $11,407 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $11,009 and sub-$11,000 levels.

The Crypto Daily – Movers and Shakers – August 1st, 2020

Bitcoin, BTC to USD, rallied by 2.04% on Friday. Following a 0.05% gain on Thursday, Bitcoin ended the month up by 24.04% to $11,350.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $10,990 before making a move.

Steering clear of the first major support level at $10,923.2, Bitcoin rose to a late afternoon intraday high $11,440.0.

Bitcoin broke through the first major resistance level at $11,255.4 and the second major resistance level at $11,387.8.

A late pullback saw Bitcoin fall back through the resistance levels before finding support.

Bitcoin broke back through the first major resistance level to wrap up the day at $11,350 levels.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Binance Coin (+7.76%), Bitcoin Cash SV (+7.19%), and Ripple’s XRP (+6.22%) led the way.

Bitcoin Cash ABC (+2.22%), Ethereum (+3.46%), Litecoin (+2.46%), and Monero’s XMR (+4.39%), also found strong support.

EOS (+1.36%), Stellar’s Lumen (+0.73%), Tezos (+1.44%), and Tron’s TRX (+1.93%) trailed the front runners.

Cardano’s ADA bucked the trend, however, falling by 1.17%.

It was a bullish July for the crypto market.

Cardano’s ADA surged by 67.38% to lead the majors.

Bitcoin Cash SV (+46.21%), Ethereum (+53.82%), Litecoin (+41.45%), Ripple’s XRP (+48.21%), and Stellar’s Lumen (+45.72%) also found strong support.

Binance Coin (+34.44%), Bitcoin Cash ABC (+34.87%), EOS (+30.56%), Monero’s XMR (33.17%), Tezos (+20.69%), and Tron’s TRX (+20.39%) trailed the front runners.

In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Monday high $335.81bn. At the time of writing, the total market cap stood at $326.94bn.

Bitcoin’s dominance rose from a Monday low 62.44% to a Tuesday high 64.58% before easing back. At the time of writing, Bitcoin’s dominance stood at 63.53.

This Morning

At the time of writing, Bitcoin was down by 0.82% to $11,257.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,398 before falling to a low $11,238.0.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Bitcoin Cash ABC (+0.14%), Cardano’s ADA (+0.21%), and Stellar’s Lumen (+0.69%) found early support.

It was a bearish start for the rest of the majors, however. Ripple’s XRP was down by 1.44% to lead the way down.

BTC/USD 01/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,260 pivot to support a run at the first major resistance level at $11,530.

Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $11,440.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,710.

Failure to move through the $11,260 pivot level would bring the first major support level at $11,080 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,000 levels and the second major support level at $10,810.

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

EOS

EOS rose by 1.36% on Friday, Following on from a 0.90% gain on Thursday, EOS ended the month up by 30.56% to $3.0950.

It was a mixed start to the day. EOS fell to an early morning intraday low $3.0163 before making a move.

Steering clear of the first major support level at $2.9763, EOS rallied to a late afternoon intraday high $3.1481

EOS broke through the first major resistance level at $3.1191 before easing back to sub-$3.10 levels.

At the time of writing, EOS was down by 0.17% to $3.0896. A mixed start to the day saw EOS rise to an early morning high $3.1155 before falling to a low $3.0896.

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

EOS/USD 01/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.0865 pivot level to support a run at the first major resistance level at $3.1566.

Support from the broader market would be needed, however, for EOS to break back out from Friday’s high $3.1481.

Barring another extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $3.0865 pivot would bring the first major support level at $3.0248 into play.

Barring an extended sell-off, EOS should steer clear of the second major support level at $2.9547.

Looking at the Technical Indicators

First Major Support Level: $3.0248

Pivot Level: $3.0865

First Major Resistance Level: $3.1566

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 3.46% on Friday. Following on from a 5.39% rally on Thursday, Ethereum ended the month up by 53.82% to $346.86.

Another mixed start saw Ethereum fall to an early morning intraday low $328.35 before making a move.

Steering clear of the first major support level at $319.09, Ethereum rallied to a late intraday high $349.74.

Ethereum broke through the first major resistance level at $346.97 to test resistance at $350 before easing back.

Ethereum slipped back through the first major resistance level at $346.97 late in the day.

At the time of writing, Ethereum was down by 0.28% to $345.88. A mixed start to the day saw Ethereum rise to an early morning high $347.99 before falling to a low $345.56.

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

ETH/USD 01/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $341.65 pivot to support a run at the first major resistance level at $354.95.

Support from the broader market would be needed, however, for Ethereum to break out form Friday’s high $349.74.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $341.65 pivot would bring the first major support level at $333.56 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $320.26.

Looking at the Technical Indicators

First Major Support Level: $333.56

Pivot Level: $341.65

First Major Resistance Level: $354.95

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 6.22% on Friday. Following on from a 0.36% gain on Thursday, Ripple’s XRP ended the month up by 48.21% to $0.25983.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.24201 before finding support.

Steering clear of the first major support level at $0.2359, Ripple’s XRP rallied to a late intraday high $0.26078.

Ripple’s XRP broke through the first major resistance level at $0.2517 and the second major resistance level at $0.2587.

On the day, it was the first visit to $0.26 levels since early February before wrapping up the day at $0.2590 levels.

At the time of writing, Ripple’s XRP was down by 0.28% to $0.25909. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.26021 before falling to a low $0.25833.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 01/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2542 pivot to support a run at the first major resistance level at $0.2664.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.26078.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP would likely test the second major resistance level at $0.0.2730 before any pullback.

Failure to avoid a fall through the $0.2542 pivot would bring the first major support level at $0.2476 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.25 levels, however.

Looking at the Technical Indicators

First Major Support Level: $0.2476

Pivot Level: $0.2542

First Major Resistance Level: $0.2664

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

The Crypto Daily – Movers and Shakers – July 31st, 2020

Bitcoin, BTC to USD, rose by 0.05% on Thursday. Following on from a 1.70% gain on Wednesday, Bitcoin ended the day at $11,123.0.

A bearish start to the day saw Bitcoin fall to an early afternoon intraday low $10,855.8 before making a move.

Finding support at the first major support level at $10,852, Bitcoin rose to a late high $11,186.1.

Falling well short of the first major resistance level at $11,380, Bitcoin fell back to sub-$11,100 levels and into the red.

Finding late support, however, Bitcoin move struck a final hour intraday high $11,188 before easing back.

In spite of the pullback, Bitcoin closed out the day in the green.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Thursday.

Ethereum rallied by 5.39% to lead the way.

Bitcoin Cash ABC (+2.43%), Bitcoin Cash SV (+1.52%), Litecoin (+2.92%), Monero’s XMR (+2.58%), and Stellar’s Lumen (+1.72%) also found strong support.

Binance Coin (+0.55%), Cardano’s ADA (+0.62%), EOS (+0.90%), Ripple’s XRP (+0.36%), Tezos (+0.90%), and Tron’s TRX (+0.32%) tailed the front runners.

In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Monday high $335.81bn. At the time of writing, the total market cap stood at $321.79bn.

Bitcoin’s dominance rose from a Monday low 62.43% to a Tuesday high 64.57% before easing back. At the time of writing, Bitcoin’s dominance stood at 63.58.

This Morning

At the time of writing, Bitcoin was down by 0.16% to $11,105.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,149.3 before falling to a low $11,100.3.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (+0.51%), Monero’s XMR (+0.22%), and Tezos (+0.01%) bucked the trend early on.

It was a bearish start for the rest of the majors, with Bitcoin Cash SV down by 0.58% to lead the way down.

BTC/USD 31/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,056 pivot to support a run at the first major resistance level at $11,255.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $11,189.2.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,388.

Failure to avoid a fall through the $11,056 pivot level would bring the first major support level at $10,923 into play.

Barring an extended crypto sell-off, however, Bitcoin should continue to steer clear of sub-$10,800 levels and the second major support level at $10,723.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 31st, 2020

EOS

EOS rose by 0.90% on Thursday. Following on from a 0.79% gain on Wednesday, EOS ended the day at $3.0540.

It was a bearish start to the day. EOS fell to a mid-morning intraday low $2.9638 before making a move.

Steering clear of the first major support level at $2.9367, EOS rallied to a late intraday high $3.1066.

Falling short of the first major resistance level at $3.1410, EOS slipped back to wrap up the day at sub-$3.10 levels.

At the time of writing, EOS was up by 0.15% to $3.0585. A bullish start to the day saw EOS rise from an early morning low $3.0535 to a high $3.0652.

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

EOS/USD 31/07/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.0415 pivot level to support a run at the first major resistance level at $3.1191.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $3.1066.

Barring another extended crypto rally, the first major resistance level at $3.1191 would likely cap any upside.

Failure to avoid a fall through the $3.0415 pivot would bring the first major support level at $2.9763 into play.

Barring an extended sell-off, EOS should steer well clear of sub-$2.90 levels and the second major support level at $2.8987.

Looking at the Technical Indicators

First Major Support Level: $2.9763

Pivot Level: $3.0415

First Major Resistance Level: $3.1191

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 5.39% on Thursday. Following a modest 0.20% rise from on Wednesday, Ethereum ended the day at $335.31.

A mixed start saw Ethereum fall to an early morning intraday low $314.52 before making a move.

Steering clear of the first major support level at $311.93, Ethereum rallied to a late intraday high $342.40.

Ethereum broke through the first major resistance level at $325.12 and the second major resistance level at $332.08.

Coming up short of the third major resistance level at $345.27, Ethereum eased back to sub-$340 levels.

At the time of writing, Ethereum was up by 0.08% to $335.58. A bullish start to the day saw Ethereum rise from an early morning low $335.18 to a high $336.99.

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

ETH/USD 31/07/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $330.74 pivot to support a run at the first major resistance level at $347.

Support from the broader market would be needed, however, for Ethereum to break out form Thursday’s high $342.40.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $330.74 pivot would bring the first major support level at $319 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $302.86.

Looking at the Technical Indicators

First Major Support Level: $319

Pivot Level: $330.74

First Major Resistance Level: $347

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 0.36% on Thursday. Following on from Wednesday’s 5.57% rally, Ripple’s XRP ended the day at $0.24462.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.23425 before finding support.

Steering clear of the first major support level at $0.2320, Ripple’s XRP rose to a late intraday high $0.25000.

Falling short of the first major resistance level at $0.2530, Ripple’s XRP eased back to limit the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.03% to $0.24454. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.24602 before falling to a low $0.24443.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 31/07/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2430 pivot to support a run at the first major resistance level at $0.2517.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.2500.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2587 before any pullback.

Failure to avoid a fall through the $0.2430 pivot would bring the first major support level at $0.2359 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.23 levels and the second major support level at $0.2272.

Looking at the Technical Indicators

First Major Support Level: $0.2359

Pivot Level: $0.2430

First Major Resistance Level: $0.2517

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

Bitcoin’s Bulls Lost Control of the Price Action

The flagship cryptocurrency opened at $10,939.06, but quickly dropped by 0.87% to hit an intraday low of $10,844.34. This price hurdle served as stiff support, which encouraged the bulls to step back into the market. Consequently, Bitcoin started to trend upwards. 

Consistent with the characteristics of an ascending parallel channel, each time BTC rose to the upper boundary of this technical pattern, this resistance barrier was able to reject it, triggering a pullback towards the lower border. From this point, the pioneer cryptocurrency bounced back to the top, and the whole sequence repeated. 

By 21:30 UTC, Bitcoin had surged to hit an intraday high of $11,364.80, representing a 4.80% increase from the daily low previously mentioned. Although many believed that this cryptocurrency was bound to rise towards $12,000, this price hurdle was able to hold and prevented it from advancing further. 

Consequently, BTC retraced and broke below the lower boundary of the ascending parallel channel. Moving past this significant support barrier appears to have caused panic among market participants, which resulted in a 2.28% correction that pushed prices below the $11,000 mark. However, Bitcoin was able to rebound a few minutes before the end of the day to close at $11,078.57, providing investors a daily return of 1.28%. 

Ethereum Provided Miniscule Returns

Like Bitcoin, Ethereum also enjoyed bullish momentum throughout Wednesday, July 29th. Even though it opened the day on a negative posture as its price dropped from $317.19 to $313, the buying pressure increased, allowing it to recover the losses incurred. Indeed, Ether surged by 4.17% to hit an intraday high of $325.99 by 8:30 UTC. 

This price point quickly rejected the upward price action, which caused ETH to retrace by 1.77%. From that point on, the second-largest cryptocurrency by market cap consolidated within a narrow trading range. This consolidation period was defined by the $321.21 support and the $323.60 resistance level. 

Only an hour before the daily close, the $321.21 support level failed to continue holding. As a result, Ethereum took a 1.79% nosedive to trade at $315.73, but a significant number of buy orders were triggered around this level. The smart contracts giant bounced back and closed the day at $318.12 to provide ETH holders a daily return of 0.29%. 

Technical Indexes Flash Sell Signals

The Tom DeMark (TD) sequential indicator continues suggesting that Bitcoin and Ethereum are bound to retrace. On BTC’s 12-hour chart, for instance, the TD recently presented a sell signal in the form of a green nine candlestick. Meanwhile, a bearish formation was provided in the form of an aggressive 13 candlestick on ETH’s 12-hour chart. 

Following the bullish impulse that the top two cryptocurrencies by market cap experienced over the past week, the bearish formations presented by the TD index must be taken seriously. An eventual pullback could help maintain the uptrend of these cryptocurrencies healthy and provide an opportunity for sidelined investors to get back into the market. A new capital influx could propel Bitcoin and Ethereum towards new yearly highs. 

Konstantin Anissimov, Executive Director at CEX.IO

The Crypto Daily – The Movers and Shakers – July 30th, 2020

Bitcoin, BTC to USD, rose by 1.70% on Wednesday. Reversing a 1.02% fall from Tuesday, Bitcoin ended the day at $11,117.

It was another mixed start to the day. Bitcoin fell to an early morning intraday low $10,851 before making a move.

Steering clear of the first major support level at $10,594, Bitcoin rallied to a late intraday high $11,355.

Bitcoin broke through the first major resistance level at $11,267 before easing back to sub-$11,200 levels.

The late pullback saw Bitcoin fall back through the first major resistance level at $11,267.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday.

Cardano’s ADA slid by 6.46% to lead the way down.

Bitcoin Cash SV (-2.54%), Monero’s XMR (-2.76%), and Stellar’s Lumen (-2.36%) also saw relatively heavy losses.

Binance Coin (-1.53%), Bitcoin Cash ABC (-1.06%), Litecoin (-1.20%), Tezos (-1.88%) and Tron’s TRX (-0.12%) saw more modest losses on the day.

It was a bullish day for the rest of the majors, however.

Ripple’s XRP rallied by 5.57% to lead the way.

EOS (+0.79%) and Ethereum (+0.20%) also found support.

In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Monday high $335.81bn. At the time of writing, the total market cap stood at $318.81bn.

Bitcoin’s dominance rose from a Monday low 62.43% to a Tuesday high 64.57% before easing back. At the time of writing, Bitcoin’s dominance stood at 64.14.

This Morning

At the time of writing, Bitcoin was down by 0.35% to $11,077.8. A bearish start to the day saw Bitcoin fall from an early morning high $11,117.4 to a low $11,004.0.

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

Elsewhere, it was a mixed start to the day.

At the time of writing, Monero’s XMR and Bitcoin Cash SV were up by 1.04% and 0.92% respectively to lead the way.

Binance Coin (+0.05%), Ethereum (+0.16%), and Stellar’s Lumen (+0.23%) also found early support.

It was a bearish start for the rest of the majors, with Ripple’s XRP down by 1.10% to lead the way down.

BTC/USD 30/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,116 pivot to support a run at the first major resistance level at $11,380.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $11,355.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,601.

Failure to move through the $11,116 pivot level would bring the first major support level at $10,852 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,800 levels and the second major support level at $10,588.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 30th 2020

EOS

EOS rose by 0.79% on Wednesday. Following on from a 5.06% rally on Tuesday, EOS ended the day at $3.0292.

It was another mixed start to the day. EOS fell to an early morning intraday low $2.9560 before making a move.

Steering clear of the first major support level at $2.8319, EOS rallied to a late morning intraday high $3.1603.

EOS broke through the first major resistance level at $3.1288 before falling back to an afternoon low $3.0200.

Steering clear of sub-$3.00 levels, EOS found late support briefly revisit $3.11 levels before wrapping up the day at $3.02 levels.

At the time of writing, EOS was down by 0.48% to $3.0148. A bearish start to the day saw EOS fall from an early morning high $3.0286 to a low $2.9762

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

EOS/USD 30/07/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.0485 pivot level to support a run at the first major resistance level at $3.1410.

Support from the broader market would be needed, however, for EOS to break back through to $3.10 levels.

Barring another extended crypto rally, the first major resistance level at $3.1410 would likely cap any upside.

Failure to move through the $3.0485 pivot would bring the first major support level at $2.9367 into play.

Barring an extended sell-off, EOS should steer well clear of sub-$2.90 levels and the second major support level at $2.8442.

Looking at the Technical Indicators

First Major Support Level: $2.9367

Pivot Level: $3.0485

First Major Resistance Level: $3.1410

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.20% on Wednesday. Reversing a 1.49% fall from Tuesday, Ethereum ended the day at $318.16.

A mixed start saw Ethereum fall to an early morning intraday low $312.66 before finding support.

Steering clear of the first major support level at $306.81, Ethereum rose to an early afternoon intraday high $325.85.

Falling short of the first major resistance level at $327.86, Ethereum fell back to sub-$320 levels before finding late support.

A move back through to $323 levels was brief, however, with Ethereum falling back to sub-$320 late in the day.

At the time of writing, Ethereum was down by 0.35% to $317.06. A bearish start to the day saw Ethereum fall from an early morning high $318.16 to a low $315.38.

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

ETH/USD 30/07/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $319 pivot to support a run at the first major resistance level at $325.

Support from the broader market would be needed, however, for Ethereum to break back through to $325 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $325.85 should cap any upside.

Failure to move through the $319 pivot would bring the first major support level at $312 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $306.

Looking at the Technical Indicators

First Major Support Level: $312

Pivot Level: $319

First Major Resistance Level: $325

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 5.57% on Wednesday. Following on from a 2.67% gain on Tuesday, Ripple’s XRP ended the day at $0.2437.

A bullish start to the day saw Ripple’s XRP rally to an early morning high $0.24459 before easing back.

Ripple’s XRP broke through the first major resistance level at $0.2379 before falling to an afternoon low $0.2369.

Finding late support, however, Ripple’s XRP rallied to a late intraday high $0.24988. Ripple’s XRP broke through the first major resistance level and the second major resistance level at $0.2451 before pulling back.

The late pullback saw Ripple’s XRP fall back through the second major resistance level.

At the time of writing, Ripple’s XRP was down by 1.48% to $0.24010. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.24382 to a low $0.24010.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 30/07/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move back through the $0.2412 pivot to support a run at the first major resistance level at $0.2530.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.25049.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2622 before any pullback.

Failure to move back through the $0.2412 pivot would bring the first major support level at $0.2320 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.23 levels and the second major support level at $0.2202.

Looking at the Technical Indicators

First Major Support Level: $0.2320

Pivot Level: $0.2412

First Major Resistance Level: $0.2530

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

The Crypto Daily – Movers and Shakers – July 29th, 2020

Bitcoin, BTC to USD, fell by 1.02% on Tuesday. Following Monday’s 11.01% breakout, Bitcoin ended the day at $10,932.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,263 before hitting reverse.

Falling short of the first major resistance level at $11,634, Bitcoin fell to a late morning intraday low $10,590.

Steering clear of the first major support level at $10,200, Bitcoin moved back through to $11,200 levels.

A bearish end to the day, however, saw Bitcoin give up the $11,000 handle to end the day in the red.

The near-term bullish trend remained intact, supported by the latest run at $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Ethereum joined Bitcoin in the red, with a 1.49% loss.

It was a bullish day for the rest of the majors, however.

Bitcoin Cash ABC and Cardano’s ADA led the way, with gains of 7.54% and 7.83% respectively.

Bitcoin Cash SV (+3.73%), EOS (+5.06%), Litecoin (+4.61%), Monero’s XMR (+3.77%), and Stellar’s Lumen (+3.66%) also found strong support.

Binance Coin (+2.27%), Ripple’s XRP (+2.67%), Tezos (+0.47%), and Tron’s TRX (+2.26%) trailed the front runners.

At the start of the week, the crypto total market cap rose from a Monday low $285.49bn to a high $335.80bn. At the time of writing, the total market cap stood at $315.11bn.

Bitcoin’s dominance rose from a Monday low 62.43% to a Tuesday high 64.57% before easing back. At the time of writing, Bitcoin’s dominance stood at 63.88%.

This Morning

At the time of writing, Bitcoin was down by 0.06% to $10,925. A mixed start to the day saw Bitcoin rise to an early morning high $10,994 before falling to a low $10,915.6.

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

Elsewhere, it was a mixed start to the day. Tezos was up by 0.10%, at the time of writing, to buck the trend.

It was a bearish start for the rest of the majors, however.

Cardano’s ADA was down by 1.85% to lead the way down.

BTC/USD 29/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $10,928 pivot to support a run at the first major resistance level at $11,267.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,200 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $11,263 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,601.

Failure to move back through the $10,928 pivot level would bring the first major support level at $10,594 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the second major support level at $10,255.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 29th, 2020

EOS

EOS rallied by 5.06% on Tuesday. Following on from a 5.07% gain on Monday, EOS ended the day at $3.0048.

It was another mixed start to the day. EOS rose to an early morning high $2.9204 before hitting reverse.

Falling short of the first major resistance level at $2.9785, EOS slid to a late morning intraday low $2.7830.

Steering clear of the first major support level at $2.6879, EOS rallied to a late intraday high $3.0799.

EOS broke through the first major resistance level at $2.9785 before easing back.

At the time of writing, EOS was up by 0.30% to $3.0137. A bullish start to the day saw EOS rise from an early morning low $3.0040 to a high $3.0191.

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

EOS/USD 29/07/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.9559 pivot level to support a run at the first major resistance level at $3.1288.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $3.0799.

Barring another extended crypto rally, the first major resistance level at $3.1288 would likely cap any upside.

Failure to avoid a fall through the $2.9559 pivot would bring the first major support level at $2.8319 into play.

Barring an extended sell-off, EOS should steer well clear of sub-$2.80 levels. The first major support level at $2.8319 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.8319

Pivot Level: $2.9559

First Major Resistance Level: $3.1288

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.49% on Tuesday. Partially reversing a 3.47% gain from Monday, Ethereum ended the day at $317.59.

A bullish start saw Ethereum rise to an early morning intraday high $327.34 before hitting reverse.

Falling short of the first major resistance level at $333.93, Ethereum fell to a late morning intraday low $306.29.

The pullback saw Ethereum fall through the first major support level at $310.97 before moving back to $323 levels.

A bearish end to the day, however, left Ethereum at sub-$320 levels and in the red.

At the time of writing, Ethereum was up by 0.54% to $319.29. A bullish start to the day saw Ethereum rise from an early morning low $317.52 to a high $319.50.

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

ETH/USD 29/07/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $317 pivot to support a run at the first major resistance level at $327.86.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $327.34.

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

Failure to avoid a fall through the $317 pivot would bring the first major support level at $306.81 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The first major support level should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $306.81

Pivot Level: $317

First Major Resistance Level: $327.86

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 2.67% on Tuesday. Following on from a 4.33% rally on Monday, Ripple’s XRP ended the day at $0.23070.

It was a mixed start to the day, with Ripple’s XRP rising to an early morning high $0.22698 before hitting reverse.

Falling short of the first major resistance level at $0.2333, Ripple’s XRP slid to a late morning intraday low $0.21773.

Steering clear of the first major support level at $0.2127, Ripple’s XRP rallied to a late intraday high $0.23499.

Ripple’s XRP broke back through the first major resistance level at $0.2333 before sliding back to sub-$0.23 levels.

Finding late support, however, Ripple’s XRP wrapped up the day at $0.23 levels for the 1st time since March.

At the time of writing, Ripple’s XRP was up by 0.87% to $0.23271. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.23085 to a high $0.23271.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 29/07/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2287 pivot to support a run at the first major resistance level at $0.2379.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.23499.

Barring a broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2451 before any pullback.

Failure to avoid a fall through the $0.2278 pivot would bring the first major support level at $0.2206 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.22 levels and the second major support level at $0.2105.

Looking at the Technical Indicators

First Major Support Level: $0.2206

Pivot Level: $0.2278

First Major Resistance Level: $0.2379

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

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 28th 2020

EOS

EOS rallied by 5.07% on Monday. Following on from a 2.40% gain from Sunday, EOS ended the day at $2.8549.

It was a mixed start to the day. EOS rose to a mid-morning high $2.8151 before hitting reverse.

EOS broke through the first major resistance level at $2.7917 before sliding to a mid-afternoon intraday low $2.6445.

The reversal saw EOS fall through the first major support level at $2.6634 before making a move.

Finding support from the broader market, EOS rallied to a late intraday high $2.9351.

EOS broke through the first major resistance level at $2.7917 and the second major resistance level at $2.8671.

A final hour pullback saw EOS slide back through the resistance levels before recovering to $2.85 levels.

At the time of writing, EOS was up by 1.09% to $2.8859. A bullish start to the day saw EOS rise from an early morning low $2.8599 to a high $2.8878.

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

EOS/USD 28/07/20 Daily Chart

For the day ahead

EOS would need to avoid a fall through the $2.8115 pivot level to support a run at the first major resistance level at $2.9785.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.9351.

Barring another extended crypto rally, the first major resistance level at $XXX would likely cap any upside.

Failure to avoid a fall through the $2.8115 pivot would bring the first major support level at $2.6879 into play.

Barring an extended sell-off, EOS should steer well clear of sub-$2.60 levels. The first major support level at $2.6879 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.6879

Pivot Level: $2.8115

First Major Resistance Level: $2.9785

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 3.47% on Monday. Following on from a 1.90% gain on Sunday, Ethereum ended the day at $322.24.

A bullish start saw Ethereum rise from an intraday low $311.38 to an early morning high $329.99.

Ethereum broke through the first major resistance level at $320.74 before hitting reverse.

Coming up against the second major resistance level at $330.12, Ethereum fell back to $311 levels before finding support.

Through the afternoon, Ethereum rallied to a late intraday high $334.34 before sliding back to $313 levels.

Ethereum broke through the first major resistance level at $320.74 and the second major resistance level at $330.12.

Finding late support, Ethereum broke back through the first major resistance level to deliver the upside on the day.

At the time of writing, Ethereum was up by 0.85% to $324.97. A bullish start to the day saw Ethereum rise from an early morning low $322.41 to a high $325.91.

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

ETH/USD 28/07/20 Daily Chart

For the day ahead

Ethereum would need to avoid a fall through the $322.65 pivot to support a run at the first major resistance level at $333.93.

Support from the broader market would be needed, however, for Ethereum to break back through to $330 levels

Barring another extended crypto rally, the first major resistance level and Monday’s high $334.34 should cap any upside.

Failure to avoid a fall through the $322.65 pivot would bring the first major support level at $310.97 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The first major support level at $310.97 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $310.97

Pivot Level: $322.65

First Major Resistance Level: $333.93

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 4.33% on Monday. Following on from a 0.28% gain on Sunday, Ripple’s XRP ended the day at $0.2248.

It was a bullish start to the day, with Ripple’s XRP rallying to a mid-day high $0.22348 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2232 before sliding to a mid-afternoon intraday low $0.20919.

Finding support at the first major support level at $0.2101, Ripple’s XRP rallied to a late intraday high $0.22979.

Ripple’s XRP broke back through the first major resistance level at $0.2232 before sliding back to sub-$0.2230 levels.

Finding late support, however, Ripple’s XRP broke back through the first major resistance level to end the day at $0.224 levels.

At the time of writing, Ripple’s XRP was up by 0.75% to $0.22648. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.22429 to a high $0.22673.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 28/07/20 Daily Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2213 pivot to support a run at the first major resistance level at $0.2333.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.22979.

Barring a broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2419 before any pullback.

Failure to avoid a fall through the $0.2213 pivot would bring the first major support level at $0.2127 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.21 levels and the second major support level at $0.2007.

Looking at the Technical Indicators

First Major Support Level: $0.2127

Pivot Level: $0.2213

First Major Resistance Level: $0.2333

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