The Crypto Daily – Movers and Shakers – August 17th, 2020

Bitcoin, BTC to USD, rose by 0.50% on Sunday. Following on from a 0.70% gain on Saturday, Bitcoin ended the week up by 2.07% to $11,917.5.

It was a mixed start to the day. Bitcoin recovered from an early morning low $11,764 to strike a mid-morning intraday high $11,940.5.

Falling short of the first major resistance level at $12,004, Bitcoin slid to a mid-day intraday low $11,691.5.

Bitcoin fell through the first major support level at $11,702 before recovering to $11,900 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 for the majors on Sunday.

Bitcoin Cash SV fell by 0.41% to buck the trend on the day.

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

Tron’s TRX led the way, rallying by 12.26%.

EOS (+4.11%), Litecoin (+6.64%), Stellar’s Lumen (+7.60%), and Tezos (+4.12%) also found strong support.

Binance Coin (+1.82%), Bitcoin Cash ABC (+2.32%), Cardano’s ADA (+0.30%), Ethereum (+0.24%), Monero’s XMR (+1.59%), and Ripple’s XRP (+1.93%) trailed the front runners.

For the week, it was also mixed for the broader market.

Bitcoin Cash SV (-0.19%), Cardano’s ADA (-4.28%), and Monero’s XMR (-1.69%) saw red.

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

EOS and Tron’s TRX surged by 28.09% and by 38.31% respectively to lead the way.

Ethereum (+11.09%), Litecoin (+12.18%), Stellar’s Lumen (+9.41%), and Tezos (+14.88%) also found strong support.

Binance Coin (+4.95%), Bitcoin Cash ABC (+2.11%), and Ripple’s XRP (+5.71%) trailed the front runners.

In the week, the crypto total market cap fell to a Tuesday low $328.26bn before rising to a Sunday high $367.82bn. At the time of writing, the total market cap stood at $362.51bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Sunday low 59.93%. At the time of writing, Bitcoin’s dominance stood at 60.29%.

This Morning

At the time of writing, Bitcoin was down by 0.51% to $11,856.5. A mixed start to the day saw Bitcoin rise to an early morning high $11,940.0 before falling to a low $11,803.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA bucked the trend early on, rising by 0.20%.

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

At the time of writing, Tron’s TRX was down by 3.09% to lead the way down.

BTC/USD 17/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $11,850 to support a run at the first major resistance level at $12,008.

Support from the broader market would be needed, however, for Bitcoin to break out from the Sunday’s high $11,940.5.

Barring an extended crypto rally, the first major resistance level and resistance at $12,000 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,099.

Failure to avoid a fall back through the $11,850 pivot level would bring the first major support level at $11,759 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,600 support levels. The second major support level at $11,601 should limit any downside.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 17th, 2020

EOS

EOS rallied by 4.11% on Sunday. Following on from a 14% jump on Saturday, EOS ended the week up by 28.09% to $3.8792.

It was a mixed start to the day. EOS rose to an early morning high $3.8724 before hitting reverse.

Falling short of the major resistance levels, EOS slid to a mid-day intraday low $3.4824 before making a move.

Steering clear of the first major support level at $3.3450, EOS rallied to a mid-afternoon intraday high $3.9863.

Falling short of the first major resistance level at $3.9922, EOS eased back to wrap up the week at $3.8 levels.

At the time of writing, EOS was down by 0.05% to $3.8771. A mixed start to the day saw EOS rise to an early morning high $3.8985 before falling to a low $3.8532.

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

EOS/USD 17/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.7826 pivot level to support a run at the first major resistance level at $4.0829.

Support from the broader market would be needed, however, for EOS to breakout from Sunday’s high $3.9863.

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

A fall through the pivot level at $3.7826 would bring the first major support level at $3.5790 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.50 levels. The second major support level sits at $3.2787.

Looking at the Technical Indicators

First Major Support Level: $3.5790

Pivot Level: $3.7826

First Major Resistance Level: $4.0829

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.24% on Sunday. Following a 1.43% decline on Saturday, Ethereum ended the week up by 11.09% to $433.70.

A bearish start to the day saw Ethereum fall to a mid-day intraday low $412.51 before finding support.

Ethereum fell through the first major support level at $425.92 and the second major support level at $419.30.

Finding support in the afternoon, Ethereum rose to a late afternoon intraday high $437.00.

Falling short of the first major resistance level at $441.25, Ethereum slipped back to end the day at sub-$435 levels.

At the time of writing, Ethereum was down by 0.30% to $432.41. A mixed start to the day saw Ethereum rise to an early morning high $434.96 before falling to a low $432.01.

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

ETH/USD 17/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $427.74 pivot to support a run at the first major resistance level at $442.96.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $437.00.

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

A fall through the $427.74 pivot would bring the first major support level at $418.47 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level at $403.25 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $418.47

Pivot Level: $427.74

First Major Resistance Level: $442.96

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 1.93% on Sunday. Reversing a 0.55% loss from Saturday, Ripple’s XRP ended the week up by 5.71% to $0.30467.

A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.3048 before hitting reverse.

Falling short of the first major resistance level at $0.3061, Ripple’s XRP fell to a mid-day intraday low $0.2920

Steering clear of the first major support level at $0.2912, Ripple’s XRP recovered to $0.30 levels to end the day in the green.

At the time of writing, Ripple’s XRP was down by 1.21% to $0.30099. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.30598 before sliding to a low $0.30099.

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

XRP/USD 17/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.3005 pivot to support another run at the first major resistance level at $0.3090.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.3048.

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

A fall through the $0.3005 pivot would bring the first major support level at $0.2962 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels on the day.

The second major support level sits at $0.2877.

Looking at the Technical Indicators

First Major Support Level: $0.2962

Pivot Level: $0.3005

First Major Resistance Level: $0.3090

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 16th, 2020

Bitcoin, BTC to USD, rose by 0.70% on Saturday. Reversing a 0.19% loss from Friday, Bitcoin ended the day at $11,858.5.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,991.5 before hitting reverse.

The early rally saw Bitcoin break through the first major resistance level at $11,874 and the second major resistance level at $11,972.5.

A pullback through the morning saw Bitcoin slide to a mid-day intraday low $11,689.5.

Steering clear of the first major support level at $11,667, Bitcoin revisited $11,980 levels before easing back.

Bitcoin broke back through the first and second major resistance levels before wrapping up the day at sub-$11,900 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 for the majors on Saturday.

EOS rallied by 14% to lead the way, with Bitcoin Cash SV (+4.82%) and Litecoin (+5.38%) seeing solid gains.

Bitcoin Cash ABC (+1.60%), Stellar’s Lumen (+2.02%), and Tron’s TRX (+2.1%) also joined Bitcoin in the green.

Binance Coin (-0.13%), Cardano’s ADA (-0.01%), Ethereum (-1.43%), Monero’s XMR (-1.92%), Ripple’s XRP (-0.55%), and Tezos (-1.16%) saw red on the day, however.

In the current week, the crypto total market cap fell to a Tuesday low $328.26bn before rising to a Saturday high $368.44bn. At the time of writing, the total market cap stood at $361.29bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Saturday low 60.06%. At the time of writing, Bitcoin’s dominance stood at 60.58%.

This Morning

At the time of writing, Bitcoin was down by 0.21% to $11,833.5. A mixed start to the day saw Bitcoin rose to an early high $11,872.5 before falling to a low $11,829.5.

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

Elsewhere, it was a mixed start to the day.

Monero’s XMR and Tezos bucked the trend with gains of 0.10% and 0.89% respectively.

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

At the time of writing, Stellar’s Lumen was down by 1.17% to lead the way down.

BTC/USD 16/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $11,847 to support a run at the first major resistance level at $12,003.5.

Support from the broader market would be needed, however, for Bitcoin to break out from the Saturday’s high $11,991.5.

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 $12,149 before any pullback.

Failure to move back through the $11,847 pivot level would bring the first major support level at $11,702 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,600 support levels. The second major support level sits at $11,545.

The Crypto Daily – Movers and Shakers – August 15th, 2020

Bitcoin, BTC to USD, slipped by 0.19% on Friday. Following a 1.98% gain on Thursday, Bitcoin ended the day at $11,775.5.

It was a mixed start to the day. Bitcoin rose to an early morning high $11,848.5 before hitting reverse.

Falling short of the first major resistance level at $11,981, Bitcoin slid to an early afternoon intraday low $11,656.0.

Steering clear of the first major support level at $11,445 struck a late afternoon intraday high $11,863.5.

Continuing to fall short of the first major resistance level at $11,981, Bitcoin slipped back to sub-$11,800 levels and 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 Friday.

Bitcoin Cash ABC (-0.70%), Bitcoin Cash SV (-1.06%), Cardano’s ADA (-0.75%), Litecoin (-0.65%), Monero’s XMR (-0.83%), and Tezos (-0.61%) joined Bitcoin in the red.

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

Tron’s TRX and Binance Coin led the way, with gains of 10.89% and 6.10% respectively.

EOS (+4.01%), Ethereum (+3.25%), Ripple’s XRP (+1.83%), and Stellar’s Lumen (+3.65%) also found support.

In the current week, the crypto total market cap fell to a Tuesday low $328.26bn before rising to a Saturday morning high $365.56bn. At the time of writing, the total market cap stood at $361.09bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Friday low 60.17%. At the time of writing, Bitcoin’s dominance stood at 60.82%.

This Morning

At the time of writing, Bitcoin was up by 1.12% to $11,907.5. A bullish start to the day saw Bitcoin rise from an early morning low $11,775.5 to a high $11,991.5.

Bitcoin broke through the first major resistance level at $11,874.0 and the second major resistance level at $11,972.5.

Elsewhere, it was a mixed start to the day.

Monero’s XMR (-0.02%), Tezos (-1.93%), and Tron’s TRX (-2.03%) saw red early on.

It was a bullish start for the rest of the majors.

At the time of writing, EOS was up by 2.99% to lead the way.

BTC/USD 15/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the first major resistance level at $11,874 to support a move back through the second major resistance level at $11,972.5.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $11,991.5, however.

Barring an extended crypto rally, the second major resistance level and resistance at $12,000 should cap any upside.

In the event of a crypto breakout, Bitcoin could eye the third major resistance level at $12,180 before any pullback.

Failure to avoid a fall through the first major resistance level would bring the sub-$11,800 levels into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid the pivot level at $11,765 and the major support levels. The first major support level sits at $11,667.

 

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 15th, 2020

EOS

EOS rallied by 4.01% on Friday. Following on from a 3.74% gain on Thursday, EOS ended the day at $3.2665.

It was a mixed start to the day. EOS fell to an early morning intraday low $3.0790 before making a move.

Steering clear of the first major support level at $2.9809, EOS rallied to a late intraday high $3.2989.

EOS broke through the first major resistance level at $3.2328 before easing back to wrap up the day at $3.26 levels.

At the time of writing, EOS was 3.37% to $3.3765. A bullish start to the day saw EOS rise from an early morning low $3.2656 to a high $3.4425.

EOS broke through the first major resistance level at $3.3506 and the second major resistance at $3.4347 early on.

EOS/USD 15/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the first major resistance level $3.3506 to break back through the second major resistance level at $3.4347.

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

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

A fall first major resistance level would bring sub-$3.30 levels into play before any recovery.

Barring an extended sell-off, however, EOS should steer clear of the pivot level at $3.2148 and the major support levels. The first major support level sits at $3.1307.

Looking at the Technical Indicators

First Major Support Level: $3.1307

Pivot Level: $3.2148

First Major Resistance Level: $3.3506

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 3.25% on Friday. Following on from Thursday’s 9.73% rally, Ethereum ended the day at $438.83.

A mixed start to the day saw Ethereum dip to an early morning intraday low $417.52 before finding support.

Steering clear of the first major support level at $389.95, Ethereum rose to a late afternoon intraday high $445.45.

Falling short of the first major resistance level at $446.43, Ethereum slipped back to end the day at sub-$440 levels.

At the time of writing, Ethereum was up by 0.02% to $438.91. A mixed start to the day saw Ethereum rise to an early morning high $441.24 before falling to a low $435.69.

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

ETH/USD 15/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $434 pivot to support a run at the first major resistance level at $450.35.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $445.45.

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

A fall through the $434 pivot would bring the first major support level at $422.42 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level at $406 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $422.42

Pivot Level: $434

First Major Resistance Level: $450.35

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 1.83% on Friday. Following on from a 4.51% rally on Thursday, Ripple’s XRP ended the day at $0.30032.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.29028 before making a move.

Steering clear of the first major support level at $0.2800, Ripple’s XRP rallied to a late intraday high $0.30740.

Ripple’s XRP broke through the first major resistance level at $0.3029 before falling back to sub-$0.30 levels.

A late recovery saw Ripple’s XRP move back through to $0.30 levels to end the day with another solid gain.

At the time of writing, Ripple’s XRP was up by 0.89% to $0.30299. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.30056 to a high $0.30548.

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

XRP/USD 15/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2993 pivot to support another run at the first major resistance level at $0.3084.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.3074.

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

A fall through the $0.2993 pivot would bring the first major support level at $0.2912 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels on the day.

The second major support level sits at $0.2821.

Looking at the Technical Indicators

First Major Support Level: $0.2912

Pivot Level: $0.2993

First Major Resistance Level: $0.3084

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 – The Movers and Shakers – August 14th, 2020

Bitcoin, BTC to USD, rose by 1.98% on Thursday. Following on from a 1.59% gain on Wednesday, Bitcoin ended the day at $11,798.0.

It was a mixed start to the day. Bitcoin rose to an early morning high $11,658.5 before hitting reverse.

Falling short of the first major resistance level at $11,747, Bitcoin slid to a late morning intraday low $11,274.5.

Finding support at the first major support level at $11,274, Bitcoin moved back through to $11,500 levels going into the afternoon.

Through the 2nd half of the day, Bitcoin rallied to a late intraday high $11,811.0 before easing back.

Bitcoin broke through the first major resistance level at $11,747 to wrap up the day at $11,790 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 for the majors on Thursday.

Tezos and Stellar’s Lumen fell by 5.00% and by 0.10% to buck the trend.

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

Tron’s TRX (+11.27%) and Ethereum (+9.73%) led the way.

Bitcoin Cash ABC (+3.00%), Bitcoin Cash SV (+2.66%), EOS (+3.74%), Litecoin (+4.84%), Monero’s XMR (+2.99%), and Ripple’s XRP (+4.51%) also found strong support.

Binance Coin (+1.30%) and Cardano’s ADA (+2.12%) trailed the front runners on the day.

In the current week, the crypto total market cap rose to a Monday high $361.38bn before falling to a Tuesday low $328.26bn. At the time of writing, the total market cap stood at $355.24bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Thursday low 60.48%. At the time of writing, Bitcoin’s dominance stood at 61.11%.

This Morning

At the time of writing, Bitcoin was down by 0.33% to $11,759.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,848.5 before falling to a low $11,737.5

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

Elsewhere, it was a mixed start to the day.

EOS (-0.04%), Litecoin (-0.59%), Monero’s XMR (-0.43%), and Tezos (-0.62%) joined Bitcoin in the red.

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

At the time of writing, Cardano’s ADA was up by 0.90% to lead the way.

BTC/USD 14/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,628 pivot to support a run at the first major resistance level at $11,981.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $11,848.5.

Barring an extended crypto rally, the first major resistance level and resistance at $12,000 should cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,164 before any pullback.

Failure to avoid a fall through the $11,628 pivot level would bring the first major support level at $11,445 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,500 levels. The second major support level sits at $11,091.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 14th, 2020

EOS

EOS rose by 3.74% on Thursday. Following on from a 0.69% gain from Wednesday, EOS ended the day at $3.1394.

It was a mixed start to the day. EOS rose to an early morning high $3.0752 before hitting reverse.

Falling short of the first major resistance level at $3.0930, EOS slid to a late morning intraday low $2.9158.

EOS fell through the first major support level at $2.9202 before finding support going into the 2nd half of the day.

Through the 2nd half, EOS rallied to a late intraday high $3.1677 before pulling back. EOS broke through the first major resistance level at $3.0930 and the second major resistance level at $3.1604.

The pullback saw EOS fall back through the second major resistance level to wrap up the day at $3.13 levels.

At the time of writing, EOS was up by 0.39% to $3.1516. A bullish start to the day saw EOS rise from an early morning low $3.1402 to a high $3.1685.

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

EOS/USD 14/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.0743 pivot level to support a run at the first major resistance level at $3.2328.

Support from the broader market would be needed, however, for EOS to break through to $3.20 levels.

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

A fall through the $3.0743 pivot would bring the first major support level at $2.9809 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$2.90 levels. The second major support level sits at $2.8224.

Looking at the Technical Indicators

First Major Support Level: $2.9809

Pivot Level: $3.0743

First Major Resistance Level: $3.2328

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum surged by 9.73% on Thursday. Following on from a 2.20% gain from Wednesday, Ethereum ended the day at $424.94.

A mixed start to the day saw Ethereum rise to an early morning high $396.27 before hitting reverse.

Coming up against the first major resistance level at $396.16, Ethereum slid to a late morning intraday low $376.46.

Steering clear of the first major support level at $371.78, Ethereum found support going into the 2nd half of the day.

Through the 2nd half, Ethereum jumped to a late intraday high $432.94. Ethereum broke through day’s major resistance levels before easing back through the third major resistance level at $429.44.

At the time of writing, Ethereum was up by 0.65% to $427.7. A bullish start to the day saw Ethereum rise from an early morning low $424.99 to a high $429.75.

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

ETH/USD 14/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $411.45 pivot to support a run at the first major resistance level at $446.43.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $432.94.

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

A fall through the $411.45 pivot would bring the first major support level at $390.00 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$400 levels. The second major support level sits at $355.00.

Looking at the Technical Indicators

First Major Support Level: $390.00

Pivot Level: $411.45

First Major Resistance Level: $446.43

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 4.51% on Thursday. Reversing a 0.21% decline on Wednesday, Ripple’s XRP ended the day at $0.29507.

Tracking the broader market, Ripple’s XRP rose to an early morning high $0.28587 before hitting reverse.

Falling short of the first major resistance level at $0.2892, Ripple’s XRP fell to a late morning intraday low $0.27282.

Ripple’s XRP fell through the first major support level at $0.2737 before finding support.

Through the 2nd half, Ripple’s XRP rallied to a late intraday high $0.29570.

Ripple’s XRP broke through the first major resistance level at $0.2892 to wrap up the day at $0.29 levels.

At the time of writing, Ripple’s XRP was up by 1.32% to $0.29896. A bullish start to the day saw Ripple’s XRP rally from an early morning low $0.29491 to a high $0.29896.

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

XRP/USD 14/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2879 pivot to support a run at the first major resistance level at $0.3029.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.

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

A fall through the $0.2879 pivot would bring the first major support level at $0.2800 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.29 levels on the day.

Looking at the Technical Indicators

First Major Support Level: $0.2800

Pivot Level: $0.2879

First Major Resistance Level: $0.3029

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 13th, 2020

EOS

EOS rose by 0.69% on Wednesday. Following Tuesday’s 7.30% slide, EOS ended the day at $3.0255.

It was a bearish start to the day. EOS fell to a mid-morning intraday low $2.8823 before making a move.

Steering clear of the first major support level at $2.8177, EOS rose to an early afternoon intraday high $3.0551.

Falling short of the first major resistance level at $3.2480, EOS fell back to sub-$3.00 levels before finding late support.

The late move back through to $3.00 levels delivered the upside for the day.

At the time of writing, EOS was up by 0.13% to $3.0296. A mixed start to the day saw EOS fall to an early morning low $3.0148 before rising to a high $3.0331

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

EOS/USD 13/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.9876 pivot level to support a run at the first major resistance level at $3.0930.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.0551.

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

A fall through the $2.9876 pivot would bring the first major support level at $2.9202 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $2.8148.

Looking at the Technical Indicators

First Major Support Level: $2.9202

Pivot Level: $2.9876

First Major Resistance Level: $3.0930

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 2.20% on Wednesday. Partially reversing a 4.27% slide from Tuesday, Ethereum ended the day at $387.27.

A bearish start to the day saw Ethereum fall to a mid-morning intraday low $365.19 before finding support.

While steering clear of the first major support level at $363.00, Ethereum fell through the 38.2% FIB of $367.00.

Finding support through the rest of the day, Ethereum rallied to a late intraday high $389.57.

Falling short of the first major resistance level at $396.53, Ethereum eased back to limit the upside on the day.

At the time of writing, Ethereum was up by 0.30% to $388.42. A mixed start to the day saw Ethereum fall to an early morning low $386.55 before rising to a high $388.52.

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

ETH/USD 13/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $380.68 pivot to support a run at the first major resistance level at $396.16.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $389.57.

Barring an extended crypto rally, the first major resistance level and resistance at $400 should cap any upside.

A fall through the $380.68 pivot would bring the first major support level at $371.78 and the 38.2% FIB of $367 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $356.30.

Looking at the Technical Indicators

First Major Support Level: $371.78

Pivot Level: $380.68

First Major Resistance Level: $396.16

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 0.21% on Wednesday. Following on from Tuesday’s 4.02% slide, Ripple’s XRP ended the day at $0.28233.

Tracking the broader market, Ripple’s XRP fell a mid-morning intraday low $0.27205 before making a move.

Steering clear of the first major support level at $0.2647, Ripple’s XRP rose to a late morning intraday high $0.28755.

Falling well short the first major resistance level at $0.3043, Ripple’s XRP fell back to sub-$0.28 levels before finding late support.

In spite of the late recovery, however, Ripple’s XRP failed to move back into the green.

At the time of writing, Ripple’s XRP was up by 0.24% to $0.2830. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28167 before rising to a high $0.28305.

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

XRP/USD 13/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2806 pivot to support a run at the first major resistance level at $0.2892.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.28755.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high should cap any upside.

A fall through the $0.2806 pivot would bring the first major support level at $0.2737 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.27 and the second major support level at $0.2651.

Looking at the Technical Indicators

First Major Support Level: $0.2737

Pivot Level: $0.2806

First Major Resistance Level: $0.2892

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 12th, 2020

Bitcoin, BTC to USD, slid by 4.32% on Tuesday. Reversing a 1.86% gain from Monday, Bitcoin ended the day at $11,379.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,943 before hitting reverse.

Falling short of the first major resistance level at $12,155, Bitcoin slid to a late intraday low $11,123.

Bitcoin fell through the first major support level at $11,540 and the second major support level at $11,187.

Finding late support, Bitcoin moved back through the second major support level to limit the loss.

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 for the majors on Tuesday.

EOS (-7.30%) and Litecoin (-7.22%) led the way down.

Binance Coin (-5.96%), Bitcoin Cash ABC (-6.44%), Bitcoin Cash SV (-6.84%), Monero’s XMR (-6.79%), Stellar’s Lumen (-5.81%), Tezos (-5.73%), and Tron’s TRX (-6.02%) also saw heavy losses.

Cardano’s ADA (-4.87%), Ethereum (-4.27%), and Ripple’s XRM (-4.21%) saw relatively modest losses on the day.

In the current week, the crypto total market cap rose to a Monday high $361.38bn before falling to a Tuesday low $328.26bn. At the time of writing, the total market cap stood at $337.05bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Tuesday low 61.61%. At the time of writing, Bitcoin’s dominance stood at 62.19%.

This Morning

At the time of writing, Bitcoin was down by 0.10% to $11,367.5. A mixed saw Bitcoin rise to an early morning high $11,396.4 before falling to a low $11,340.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Tezos was down by 2.78% to lead the way down.

BTC/USD 12/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,482 pivot to support a run at the first major resistance level at $11,840.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,800 levels.

Barring an extended crypto rally, resistance at $11,500 would leave Bitcoin short of the first major resistance level.

In the event of a crypto breakout, Bitcoin could eye $12,000 levels before any pullback.

Failure to move through the $11,482 pivot level would bring the first major support level at $11,020 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,000 levels. The second major support level sits at $10,662.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 12th, 2020

EOS

EOS slid by 7.30% on Tuesday. Reversing a 6.91% rally from Monday, EOS ended the day at $3.0037.

It was another mixed start to the day. EOS rose to an early morning intraday high $3.2950 before hitting reverse.

Falling short of the first major resistance level at $3.3565, EOS tumbled to a late intraday low $2.8604.

EOS fell through the first major support level at $3.0591 and the second major support level at $2.8804.

Finding late support, EOS moved back through the second major support level to limit the loss on the day.

At the time of writing, EOS was down by 0.30% to $2.9947. A bearish start to the day saw EOS fall from an early morning high $3.0047 to a low $2.9937.

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

EOS/USD 12/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $3.0530 pivot level to support a run at the first major resistance level at $3.2457.

Support from the broader market would be needed, however, for EOS to break back through to $3.20 levels.

Barring an extended crypto rally, EOS would likely fall short of the major first resistance level and Tuesday’s high $3.2950.

Failure to move through the $3.0530 pivot would bring the first major support level at $2.8111 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $2.6184.

Looking at the Technical Indicators

First Major Support Level: $2.8111

Pivot Level: $3.0530

First Major Resistance Level: $3.2457

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 4.27% on Tuesday. Reversing a 1.38% gain from Monday, Ethereum ended the day at $378.88.

A bullish start to the day saw Ethereum rise to an early morning intraday high $398.30 before hitting reverse.

Falling short of the first major resistance level at $402.18, Ethereum slid to a late intraday low $364.77.

Ethereum fell through the first major support level at $387.41 and the second major support level at $379.04.

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

Late in the day, Ethereum moved back through the 38.2% FIB to wrap up the day at $378 levels. The second major support level at $379.04 pinned Ethereum back.

At the time of writing, Ethereum was up by 0.20% to $379.64. A mixed start to the day saw Ethereum fall to an early morning low $377.38 before rising to a high $379.64.

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

ETH/USD 12/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $380.65 pivot to support a run at the first major resistance level at $396.53.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $398.3 should cap any upside.

Failure to move through the $380.65 pivot would bring the 38.2% FIB of $367 and the first major support level at $363.00 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$350 and the second major support level at $347.12.

Looking at the Technical Indicators

First Major Support Level: $363.00

Pivot Level: $380.65

First Major Resistance Level: $396.53

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 4.21% on Tuesday. Reversing a 2.28% gain from Monday, Ripple’s XRP ended the day at $0.28238.

Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.30744 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.3022 before sliding to a late intraday low $0.26756.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2857 and the second major support level at $0.2766.

Finding late support, however, Ripple’s XRP moved back through the second major support level.

At the time of writing, Ripple’s XRP was flat at $0.28239. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28049 before rising to a high $0.28289.

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

XRP/USD 12/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2858 pivot to support a run at the first major resistance level at $0.3040.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $0.30744 should cap any upside.

Failure to move through the $0.2858 pivot would bring the first major support level at $0.2641 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.25 and the second major support level at $0.2459.

Looking at the Technical Indicators

First Major Support Level: $0.2641

Pivot Level: $0.2858

First Major Resistance Level: $0.3040

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 11th, 2020

EOS

EOS rallied by 6.91% on Monday. Reversing a 1.20% fall from Sunday, EOS ended the day at $3.2377.

It was a mixed start to the day. EOS rose to a late morning high $3.1264 before hitting reverse.

EOS broke through the first major resistance level at $3.0959 before falling to a late morning intraday low $2.9992.

Steering clear of the first major support level at $2.9456, EOS rallied to a late afternoon intraday high $3.2966.

EOS broke through the first major resistance level and the second major resistance level at $3.1642.

In spite of a late pullback, EOS avoided a fall back through the second major resistance level.

At the time of writing, EOS was up by 0.25% to $3.2457. A bullish start to the day saw EOS rise from an early morning low $3.2402 to a high $3.2502.

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

EOS/USD 11/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.1778 pivot level to support a run at the first major resistance level at $3.3565.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $3.2966.

Barring an extended crypto rally, however, the major first resistance level at $3.3565 would likely cap any upside.

A fall through the $3.1778 pivot would bring the first major support level at $3.0591 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.00 levels and the second major support level at $2.8804.

Looking at the Technical Indicators

First Major Support Level: $3.0591

Pivot Level: $3.1778

First Major Resistance Level: $3.3565

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.38% on Monday. Partially reversing a 1.78% loss from Sunday, Ethereum ended the day at $395.78.

A bullish start to the day saw Ethereum rise to an early morning intraday high $400.21 before seeing red.

Ethereum broke through the first major resistance level at $399.60 before sliding to a late morning intraday low $385.44.

Steering clear of the first major support level at $382.62, Ethereum recovered to $399 levels before easing back.

The first major resistance level at $399.60 capped the upside on the day.

At the time of writing, Ethereum was down by 0.26% to $394.76. A mixed start to the day saw Ethereum rise to an early morning high $396.76 before falling to a low $394.39.

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

ETH/USD 11/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $393.81 pivot to support a run at the first major resistance level at $402.18.

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 and Monday’s high $400.21 should cap any upside.

A fall through the $393.81 pivot would bring the first major support level at $387.41 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$380 and the second major support level at $379.04.

Looking at the Technical Indicators

First Major Support Level: $387.41

Pivot Level: $393.81

First Major Resistance Level: $402.18

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 2.28% on Monday. Partially reversing a 2.56% fall from Sunday, Ripple’s XRP ended the day at $0.29478.

Tracking the broader market, Ripple’s XRP rallied to a mid-morning intraday high $0.30053 before hitting reverse.

Breaking through the first major resistance level at $0.2969, Ripple’s XRP came up against the second major resistance level at $0.3059.

The reversal saw Ripple’s XRP slide to a late morning intraday low $0.28400.

Steering clear of the first major support level at $0.2804, Ripple’s XRP bounced back to $0.29 levels.

The first major resistance level at $0.2969 capped the upside late on.

At the time of writing, Ripple’s XRP was up by 0.07% to $0.29499. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29578 before falling to a low $0.29444.

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

XRP/USD 11/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2931 pivot to support a run at the first major resistance level at $0.3022.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.30053.

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

In the event of a breakout, the second major resistance level at $0.3096 could come into play.

Failure to avoid a fall through the $0.2931 pivot would bring the first major support level at $0.2857 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid sub-$0.28 and the second major support level at $0.2766.

Looking at the Technical Indicators

First Major Support Level: $0.2857

Pivot Level: $0.2931

First Major Resistance Level: $0.3022

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 – The Movers and Shakers – August 10th, 2020

Bitcoin, BTC to USD, fell by 0.75% on Sunday. Partially reversing a 1.59% gain from Saturday, Bitcoin ended the week up by 5.57% to $11,675.3.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,788 before hitting reverse.

Falling short of the first major resistance level at $11,866, Bitcoin slid to a late afternoon intraday low $11,530.0.

Bitcoin fell through the first major support level at $11,593 before finding support.

A late move back through to $11,600 levels cut the deficit 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 mixed day for the majors on Sunday.

Stellar’s Lumen and Tezos bucked the trend, with gains of 2.03% and 8.98% respectively.

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

Bitcoin Cash SV led the way down, falling by 3.51%.

Bitcoin Cash ABC (-2.36%), Binance Coin (-2.23%), Ethereum (-1.78%), Litecoin (-2.55%), Monero’s XMR (-2.13%), and Ripple’s XRP (-2.56%) also saw heavy losses.

Cardano’s ADA (-1.28%), EOS (-1.20%), and Tron’s TRX (-0.43%) saw modest losses on the day.

It was also a mixed week for the majors.

Ripple’s XRP bucked the trend with a 0.04% loss.

It was bullish for the rest of the pack, however.

Tezos led the way, rallying by 27.30%.

Binance Coin (+6.82%), Bitcoin Cash ABC (+6.61%), Cardano’s ADA (+8.36%), Monero’s XMR (+9.69%), and Tron’s TRX (+7.38%) also found strong support.

Bitcoin Cash SV (+1.90%), EOS (+2.95%), Ethereum (+4.90%), Litecoin (+0.30%), and Stellar’s Lumen (+2.73%) trailed the front runners.

In the week, the crypto total market cap rose from a Monday low $322.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $349.50bn.

Bitcoin’s dominance fell to a Tuesday low 61.24% before rising to a Friday high $63.16. At the time of writing, Bitcoin’s dominance stood at 62.15%.

This Morning

At the time of writing, Bitcoin was up by 0.80% to $11,769.0. A bullish start to the day saw Bitcoin rise from an early morning low $11,746.3 to a high $11,789.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA bucked the trend early on, falling by 0.16%.

It was a bullish start for the rest of the majors, however, with Tezos up by 2.71% to lead the way.

BTC/USD 10/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,664 pivot to support a run at the first major resistance level at $11,799.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $11,789.

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

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,922.

A fall through the $11,664 pivot level would bring the first major support level at $11,541 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid the second major support level at $11,406.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 10th, 2020

EOS

EOS fell 1.20% on Sunday. Partially reversing a 1.89% gain from Saturday, EOS ended the week up by 2.95% to $3.0277.

A bullish start to the day saw EOS rise to an early morning intraday $3.0821 before hitting reverse.

Falling short of the first major resistance level at $3.1117, EOS slid to an early afternoon intraday low $2.9318.

EOS fell through the first major support level at $2.9968 before finding support.

A late recovery saw EOS move back through first major support level to wrap up the day at $3.00 levels

At the time of writing, EOS was up by 0.46% to $3.0416. A bullish start to the day saw EOS rise from an early morning low $3.0284 to a high $3.0450.

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

EOS/USD 10/08/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.0139 pivot level to support a run at the first major resistance level at $3.0959.

Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $3.0821.

Barring an extended crypto rally, however, the major first resistance level at $3.0959 would likely cap any upside.

A fall through the $3.0139 pivot would bring the first major support level at $2.9456 into play.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $2.8636.

Looking at the Technical Indicators

First Major Support Level: $2.9456

Pivot Level: $3.0139

First Major Resistance Level: $3.0959

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.78% on Sunday. Partially reversing a 4.67% rally from Saturday, Ethereum ended the week up by 4.90% to $390.41.

A bullish start to the day saw Ethereum rise to an early morning intraday high $401.00 before seeing red.

Falling short of the first major resistance level at $406.32, Ethereum fell to an early afternoon intraday low $384.02.

Steering clear of the first major support level at $382.44, Ethereum recovered to $390 levels to limit the downside.

At the time of writing, Ethereum was up by 0.58% to $392.68. A bullish start to the day saw Ethereum rise from an early morning low $390.41 to a high $393.42.

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

ETH/USD 10/08/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $391.81 pivot to support a run at the first major resistance level at $399.60.

Support from the broader market would be needed, however, for Ethereum to break back through to $399 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $400 should cap any upside.

A fall through the $391.81 pivot would bring the first major support level at $382.62 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $374.83.

Looking at the Technical Indicators

First Major Support Level: $382.62

Pivot Level: $391.81

First Major Resistance Level: $399.60

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 2.56% on Sunday. Reversing a 0.40% gain from Saturday, Ripple’s XRP ended the week down by 0.04% to $0.28781.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.29582 before hitting reverse.

Falling short of the first major resistance level at $0.2994, Ripple’s XRP slid to a mid-afternoon intraday low $0.28207.

Ripple’s XRP fell through the first major support level at $0.2907 and the second major support level at $0.2860.

Finding late support, Ripple’s XRP briefly revisited $0.29 levels before easing back into the deep red.

The first major resistance level at $0.2907 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.46% to $0.28914. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.28821 to a high $0.28992.

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

XRP/USD 10/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2895 pivot to support a run at the first major resistance level at $0.2969.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.29 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $0.29852 should cap any upside.

In the event of a breakout, the second major resistance level at $0.3059 could come into play.

Failure to move through the $0.2895 pivot would bring the first major support level at $0.2804 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.2730.

Looking at the Technical Indicators

First Major Support Level: $0.2804

Pivot Level: $0.2895

First Major Resistance Level: $0.2969

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 9th, 2020

Bitcoin, BTC to USD, rose by 1.59% on Saturday. Reversing a 1.52% fall from Friday, Bitcoin ended the day at $11,764.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $11,523 before finding support.

Steering clear of the first major support level at $11,304, Bitcoin rose to a mid-day intraday high $11,796.

Falling short of the first major resistance level at $11,878, Bitcoin fell back to a low $11,601.

Avoiding sub-$11,600 levels, Bitcoin moved back through to $11,700 levels to deliver the upside 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 bullish day for the majors on Saturday.

Cardano’s ADA and Tezos led the way, with gains of 5.74% and 9.84% respectively.

Binance Coin (+2.64%), Ethereum (+4.67%), Litecoin (+2.15%), and Tron’s TRX (+3.19%) also found strong support.

Bitcoin Cash ABC (+1.61%), Bitcoin Cash SV (+1.25%), EOS (+1.89%), Monero’s XMR (+1.08%), Ripple’s XRP (+0.40%), and Stellar’s Lumen (+0.97%) trailed the pack.

In the current week, the crypto total market cap rose from a Monday low $322.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $349.48bn.

Bitcoin’s dominance fell to a Tuesday low 61.24% before rising to a Friday high 63.16%. At the time of writing, Bitcoin’s dominance stood at 62.15%.

This Morning

At the time of writing, Bitcoin was down by 0.08% to $11,755. A mixed start to the day saw Bitcoin rise to an early morning high $11,777.1 before falling to a low $11,746.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA and Tezos led the way down, with losses of 1.23% and 1.38% respectively.

Binance Coin (-0.75%), EOS (-0.11%), Litecoin (-0.21%), Monero’s XMR and Stellar’s Lumen (-0.44%) also saw red.

Bitcoin Cash ABC (+0.80%), Bitcoin Cash SV (+0.80%), Ethereum (+0.06%), Ripple’s XRP (+0.09%), and Tron’s TRX (+0.47%) found early support.

BTC/USD 09/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,694 pivot to support a run at the first major resistance level at $11,866.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $11,796.

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

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,967.

A fall through the $11,694 pivot level would bring the first major support level at $11,593 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,400 support levels. The second major support level at $11,421 should limit the downside.

The Crypto Daily – Movers and Shakers – August 8th, 2020

Bitcoin, BTC to USD, fell by 1.52% on Friday. Reversing a 0.20% gain from Thursday, Bitcoin ended the day at $11,580.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,900 before hitting reverse.

Falling short of the first major resistance level at $11,914, Bitcoin slid to a late afternoon intraday low $11,326.

Bitcoin fell through the first major support level at $11,581 and the second major support level at $11,402.

Finding late support, however, Bitcoin broke back through the second major support level to end the day at $11,580.

The first major support level at $11,581 pinned Bitcoin back late in 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 for the majors on Friday.

Bitcoin Cash SV (-4.48%), Cardano’s ADA (-3.93%), Ethereum (-3.93%), Litecoin (-3.10%), Stellar’s Lumen (-3.44%), and Tezos (-4.53%) led the way down.

Binance Coin (-1.85%), Bitcoin Cash ABC (-2.15%), EOS (-2.54%), Monero’s XMR (-1.10%), Ripple’s XRP (-2.87%), and Tron’s TRX (-1.83%) saw relatively modest losses on the day.

In the current week, the crypto total market cap rose from a Monday low $323.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $342.33bn.

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 62.69%.

This Morning

At the time of writing, Bitcoin was up by 0.17% to $11,599.6. A mixed start to the day saw Bitcoin fall to an early morning low $11,523.0 before rising to a high $11,608.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-1.02%), Cardano’s ADA (-0.09%), EOS (-0.38%), Monero’s XMR (-0.80%), Stellar’s Lumen (-0.02%), Tezos (-0.74%), and Tron’s TRX (-0.90%) saw red.

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

Bitcoin Cash ABC was up by 0.22% to lead the way.

BTC/USD 08/08/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $11,600 pivot to support a run at the first major resistance level at $11,878.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,800 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $11,900 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,176.

Failure to move through the $11,600 pivot level would bring the first major support level at $11,304 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,000 levels. The second major support level at $11,028 should limit any downside.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 8th, 2020

EOS

EOS fell by 2.54% on Friday. Reversing a 1.05% gain from Thursday, EOS ended the day at $3.0074.

A bullish start to the day saw EOS rally to a late morning intraday $3.2450 before hitting reverse.

EOS broke through the first major resistance level at $3.1778 before sliding to a late afternoon intraday low $2.7496.

EOS fell through the first major support level at $2.990 and the second major support level at $2.9101.

Finding support late in the day, EOS moved back through the support levels to wrap up the day at $3.00 levels

At the time of writing, EOS was down by 0.43% to $2.9945. A bearish start to the day saw EOS fall from an early morning high $3.0095 to a low $2.9945.

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

EOS/USD 08/08/20 Hourly Chart

For the day ahead

EOS would need to move through the $3.0007 pivot level to support a run at the first major resistance level at $3.2517

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $3.2450.

Barring an extended crypto rally, however, resistance at $3.10 would likely leave EOS short of the major resistance levels.

Failure to move through the $3.0007 pivot would bring the first major support level at $2.7563 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$2.75 levels on the day. The second major support level sits at $2.5053.

Looking at the Technical Indicators

First Major Support Level: $2.7563

Pivot Level: $3.0007

First Major Resistance Level: $3.2517

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 3.93% on Friday. Following on from a 1.48% loss on Thursday, Ethereum ended the day at $379.75.

A range-bound start to the day saw Ethereum rise to an early morning intraday high $398.57 before seeing red.

Falling short of the first major resistance level at $402.54, Ethereum fell to a late afternoon intraday low $362.88.

Ethereum fell through the day’s major support levels and the 38.2% FIB of $367 before finding support.

The partial recovery saw Ethereum move back through the 38.2% FIB and the third major support level at $370.71 to cut the deficit.

The second major support level at $383.74 pinned Ethereum back late in the day.

At the time of writing, Ethereum was down by 0.08% to $379.45. A bearish start to the day saw Ethereum fall from an early morning high $379.76 to a low $377.70.

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

ETH/USD 08/08/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $380.40 pivot to support a run at the first major resistance level at $397.92.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $398.57 should cap any upside.

Failure to move through the $380.40 pivot would bring the 38.2% FIB and the first major support level at $362.23 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level sits at $344.71.

Looking at the Technical Indicators

First Major Support Level: $362.23

Pivot Level: $380.40

First Major Resistance Level: $397.92

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 2.87% on Friday. Following a 0.19% gain from Thursday, Ripple’s XRP ended the day at $0.29427.

A bullish start to the day saw Ripple’s XRP rally to a late morning intraday high $0.3100 before hitting reverse.

Ripple’s XRP came up against the first major resistance level at $0.3104 before sliding to a late afternoon intraday low $0.27742.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2963 and the second major support level at $0.2897.

Late in the day, Ripple’s XRP briefly revisited $0.2963 levels before easing back into the deep red. The first major resistance level at $0.2963 pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was down by 0.37% to $0.29317. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.29430 to a low $0.29219.

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

XRP/USD 08/08/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2939 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 $0.30 levels.

Barring another broad-based crypto rally, the first major resistance level and Friday’s high $0.3100 should cap any upside.

In the event of a breakout, the 23.6% FIB of 0.3134 could come into play.

Failure to move through the $0.2939 pivot would bring the first major support level at $0.2778 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.2613.

Looking at the Technical Indicators

First Major Support Level: $0.2778

Pivot Level: $0.2939

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

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.