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

The Crypto Daily – Movers and Shakers – July 27th, 2020

Bitcoin, BTC to USD, rose by 2.40% on Sunday. Following on from a 1.63% gain on Saturday, Bitcoin ended the week up by 7.77% to $9,948.4.

It was another mixed start to the day. Bitcoin slipped to an early morning intraday low $9,674.8 before rallying to a late morning intraday high $10,190.0.

Bitcoin broke through the day’s major resistance levels before falling back to sub-$9,900 levels.

The pullback saw Bitcoin fall back through the third major resistance level at $10,073 and the second major resistance level at $9,874.

Finding late support, however, Bitcoin broke back through the second major resistance level to end the day at $9,900 levels.

Resistance at $10,000 pinned Bitcoin back through the 2nd half of the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 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 Sunday.

Monero’s XMR rallied by 6.16% to lead the way.

Cardano’s ADA (+3.43%), Ethereum (+1.90%), and Ripple’s XRP (+0.28%) also joined Bitcoin in the green.

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

Bitcoin Cash SV (-2.93%), Litecoin (-2.21%), and Tezos (-2.22%) led the way down.

Binance Coin (-1.31%), Bitcoin Cash ABC (-1.29%), EOS (-0.60%), Stellar’s Lumen (-1.42%), and Tron’s TRX (-0.99%) also struggled.

It was also a mixed week for the majors.

Stellar’s Lumen fell by 0.99% to buck the trend for the week.

It was a bullish week for the rest of the majors, however, with Ethereum surging by 30.13% to lead the way.

Bitcoin Cash ABC (+11.20%), Cardano’s ADA (+19.80%), Litecoin (+12.77%), and Monero’s XMR (+13.35%) also found strong support.

Binance Coin (+8.66%), Bitcoin Cash SV (+9.46%), EOS (+4.88%), Ripple’s XPR (+7.80%), Tezos (+0.18%), and Tron’s TRX (+5.73%) trailed the front runners.

In the week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Sunday high $305.28bn. At the time of writing, the total market cap stood at $295.57bn.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Sunday low 61.62%. At the time of writing, Bitcoin’s dominance stood at 62.40%.

This Morning

At the time of writing, Bitcoin was up by 0.55% to $10,003.0. A mixed start to the day saw Bitcoin fall to an early morning low $9,944.9 before striking a high $10,007.0.

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, Binance Coin and Tezos bucked the trend, with losses of 0.77% and 1.30% respectively.

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

Ethereum was up by 1.79% to lead the way early on.

BTC/USD 27/07/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,938 pivot to support a run at the first major resistance level at $10,201.

Support from the broader market would be needed, however, for Bitcoin to break back through to $10,100 levels.

Barring another extended crypto rally, the first major resistance level and Sunday’s high $10,190 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $10,453.

Failure to avoid a fall through the $9,938 pivot level would bring the first major support level at $9,686 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of the second major resistance level at $9,423.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 27th 2020

EOS

EOS fell by 0.60% on Sunday. Partially reversing a 4.99% rally from Saturday, EOS ended the week up by 4.88% to $2.7164.

It was a mixed start to the day. EOS fell to an early morning low $2.7068 before making a move.

Steering clear of the first major support level at $2.6367, EOS rallied to a late morning intraday high $2.8141.

EOS broke through the first major resistance level at $2.7880 before falling to a mid-day intraday low $2.6858.

Holding above the major support levels, EOS briefly revisited $2.74 levels before falling back into the red.

At the time of writing, EOS was up by $0.07% to $2.7184. A bullish start to the day saw EOS rise from an early morning low $2.7172 to a high $2.7237.

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

EOS/USD 27/07/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.7388 pivot level to support a run at the first major resistance level at $2.7917.

Support from the broader market would be needed, however, for EOS to break out from $2.75 levels.

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

Failure to move through the $2.7388 pivot would bring the first major support level at $2.6634 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.60 levels. The second major support level at $2.6105 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.6634

Pivot Level: $2.7388

First Major Resistance Level: $2.7917

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.90% on Sunday. Following on from Saturday’s 9.30% rally, Ethereum ended the week up by 30.13% to $311.35.

A bearish start saw Ethereum fall to an early morning intraday low $300.21 before making a move.

Steering well clear of the first major support level at $286.85, Ethereum rallied to a late morning intraday high $319.86.

Ethereum broke through the first major resistance levels at $317.23 before falling back to $301 levels.

Finding late support, Ethereum broke back through to $314 levels before easing back.

At the time of writing, Ethereum was up by 0.21% to $312.01. A bullish start to the day saw Ethereum rise from an early morning low $311.38 to a high $312.72.

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

ETH/USD 27/07/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $310.40 pivot to support a run at the first major resistance level at $320.74.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $319.86.

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

Failure to avoid a fall through the $310.50 pivot would bring the first major support level at $301.09 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $290.82.

Looking at the Technical Indicators

First Major Support Level: $301.09

Pivot Level: $310.50

First Major Resistance Level: $320.74

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 0.28% on Sunday. Following on from a 5.23% rally from Saturday, Ripple’s XRP ended the week up by 7.80% to $0.21551.

It was a mixed start to the day. Ripple’s XRP slipped to an early morning low $0.21313 before striking a late morning intraday high $0.22540.

Ripple’s XRP broke through the first major resistance level at $0.2206 before sliding to a mid-day intraday low $0.21237.

Steering clear of the first major support level at $0.2067, Ripple’s XRP revisited $0.2190 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.25% to $0.21605. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.21526 before striking a high $0.21608.

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

XRP/USD 27/07/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2178 pivot to support a run at the first major resistance level at $0.2232.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2200 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $0.2254 should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2308 before any pullback.

Failure to move through the $0.2178 pivot would bring the first major support level at $0.2101 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.21 levels and the second major support level at $0.2047.

Looking at the Technical Indicators

First Major Support Level: $0.2101

Pivot Level: $0.2178

First Major Resistance Level: $0.2232

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 26th, 2020

Bitcoin, BTC to USD, rose by 1.63% on Saturday. Reversing a 0.58% loss from Friday, Bitcoin ended the day at $9,714.9.

It was bullish day, with Bitcoin rallying from an early morning intraday low $9,555.5 to a late intraday high $9,754.5.

Bitcoin broke through the first major resistance level at $9,645.5 and second major resistance level at $9,731.9 before easing back.

A late pullback saw Bitcoin fall back to sub-$9,700 levels before wrapping up the day at $9,700 levels.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 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.

Cardano’s ADA rallied by 17.76% to lead the way.

Bitcoin Cash ABC (+6.00%), Bitcoin Cash SV (+7.59%), Ethereum (+9.30%), and Litecoin (+11.43%) also made strong gains.

Binance Coin (+3.38%), EOS (+4.99%), Monero’s XMR (+2.55%), Ripple’s XRP (+5.23%), Stellar’s Lumen (+4.71%), Tezos (+0.89%), and Tron’s TRX (+3.98%) trailed the front runners.

In the current week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Saturday high $291.48bn. At the time of writing, the total market cap stood at $287.68bn.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Saturday low 61.70%. At the time of writing, Bitcoin’s dominance stood at 62.07%.

This Morning

At the time of writing, Bitcoin was down by 0.19% to $9,696.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,722.8 before falling to a low $9,690.4.

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 (+0.92%) and Bitcoin Cash SV (+0.33%) bucked the trend early on.

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

Stellar’s Lumen was down by 1.35% to lead the way down early on.

https://www.tradingview.com/x/ztgae3yU/

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,675 pivot to support a run at the first major resistance level at $9,794.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,754.5.

Barring another 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 test the second major resistance level at $9,874 and resistance at $10,000. The third major resistance level sits at $10,073.

Failure to avoid a fall through the $9,675 pivot level would bring the first major support level at $9,595 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major resistance level at $9,476.

The Crypto Daily – Movers and Shakers – July 25th, 2020

Bitcoin, BTC to USD, fell by 0.58% on Friday. Reversing a 0.60% gain from Thursday, Bitcoin ended the day at $9,559.1.

It was a bearish start to the day. Bitcoin fell to a mid-morning intraday low $9,469.7 before making a move.

The pullback saw Bitcoin fall through the first major support level at $9,498.20.

Finding support through the afternoon, Bitcoin rallied to a late intraday high $9,644.0 before hitting reverse.

Falling short of the first major resistance level at $9,708.6, Bitcoin fell back to sub-$9,600 levels to end the day in the red.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 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 (+2.24%), Ethereum (+1.46%), and Tron’s TRX (+0.16%) bucked the trend on the day.

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

Tezos slid by 5.00% to lead the way down.

Bitcoin Cash SV (-2.47%), EOS (-1.99%), Ripple’s XRP (-2.07%), and Stellar’s Lumen (-2.98%) also struggled.

Bitcoin Cash ABC (-0.55%), Cardano’s ADA (-1.78%), Litecoin (-1.82%), and Monero’s XMR (-1.74%) saw relatively modest losses.

In the current week, the crypto total market cap fell to a Monday low $262.70bn before hitting a Thursday high $286.03bn. At the time of writing, the total market cap stood at $280.82bn.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Friday low 62.46%. At the time of writing, Bitcoin’s dominance stood at 62.76%.

This Morning

At the time of writing, Bitcoin was up by 0.10% to $9,568.6. A bullish start to the day saw Bitcoin rise from an early morning low $9,559.0 to a high $9,572.5

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash ABC (-0.22%), Bitcoin Cash SV (-0.19%), and Monero’s XMR (-0.04%) saw red to buck the trend early on.

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

At the time of writing, Cardano’s ADA was up by 2.22% to lead the way.

BTC/USD 25/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,558 pivot to support a run at the first major resistance level at $9,646.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,600 levels.

Barring an extended crypto rally, the first major resistance level and Friday high $9,644 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,732 before any pullback.

Failure to avoid a fall through the $9,558 pivot level would bring the first major support level at $9,471 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major resistance level at $9,383.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 25th, 2020

EOS

EOS fell by 1.99% on Friday. Following on from a 0.43% decline on Thursday, EOS ended the day at $2.6000.

It was a bearish start to the day. EOS slid from an early morning intraday high $2.6528 to a mid-morning intraday low $2.5672.

The sell-off saw EOS fall through the first major support level at $2.6275 and second major support level at $2.5985.

Finding support late in the day, EOS broke back through the support levels to revisit $2.63 levels before sliding back.

The late pullback saw EOS fall back through the first major support level to end the day in the deep red.

At the time of writing, EOS was up by 0.12% to $2.6032. A bullish start to the day saw EOS rise from an early morning low $2.6003 to a high $2.6049.

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

EOS/USD 25/07/20 Daily Chart

For the day ahead

EOS would need to move through the $2.6067 pivot level to support a run at the first major resistance level at $2.6461.

Support from the broader market would be needed, however, for EOS to break back through to $2.65 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $2.6582 would likely cap any upside.

Failure to move through the $2.6067 pivot would bring the first major support level at $2.5605 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5211 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.5605

Pivot Level: $2.6067

First Major Resistance Level: $2.6461

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.46% on Friday. Following on from a 4.31% rally on Thursday, Ethereum ended the day at $279.59.

Tracking the broader market, Ethereum fell to a mid-morning intraday low $268.39 before making a move.

Steering well clear of the first major support level at $262.99, Ethereum rallied to a late intraday high $287.8.

Ethereum broke through the first major resistance levels at $285.49 before falling back to sub-$280 levels.

At the time of writing, Ethereum was up by 0.43% to $280.78. A bullish start to the day saw Ethereum rise from an early morning low $279.62 to a high $281.00.

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

ETH/USD 25/07/20 Daily Chart

For the day ahead

Ethereum would need to avoid a fall through the $278.59 pivot to support a run at the first major resistance level at $288.80.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $287.8.

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

Failure to avoid a fall through the $278.59 pivot would bring the first major support level at $269.39 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$260 levels. The second major support level sits at $259.18.

Looking at the Technical Indicators

First Major Support Level: $269.39

Pivot Level: $278.59

First Major Resistance Level: $288.80

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 2.07% on Friday. Reversing a 2.30% gain from Thursday, Ripple’s XRP ended the day at $0.20445.

It was a bearish start to the day. Ripple’s XRP slid from an early morning intraday high $0.20882 to a mid-morning intraday low $0.20212.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2036 before finding support.

Ripple’s XRP moved back through to $0.20775 late in the day before falling back into the deep red.

The first major support level limited the downside late in the day.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.20463. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20401 before striking a high $0.20468.

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

XRP/USD 25/07/20 Daily Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2050 pivot to support a run at the first major resistance level at $0.2081.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2050 levels.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $0.20882 should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2118 before any pullback.

Failure to move through the $0.2050 pivot would bring the first major support level at $0.2014 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1984.

Looking at the Technical Indicators

First Major Support Level: $0.2014

Pivot Level: $0.2050

First Major Resistance Level: $0.2081

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 – July 24th, 2020

Bitcoin, BTC to USD, rose by 0.60% on Thursday. Following on from a 1.65% rally on Wednesday, Bitcoin ended the day at $9,615.0.

It was a bearish first half of the day. Bitcoin fell to an early afternoon intraday low $9,475.0 before making a move.

Steering clear of the first major support level at $9,361, Bitcoin rallied to a late afternoon intraday high $9,685.4.

Bitcoin came within range of the first major resistance level at $9,698.4 before falling back to sub-$9,600 levels.

Finding late support, however, Bitcoin moved back through to $9,600 levels to deliver the upside on the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 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 Thursday.

Binance Coin and Ethereum rallied by 3.64% and by 4.31% respectively to lead the way.

Bitcoin Cash SV (+0.02%), Cardano’s ADA (+0.38%), Monero’s XMR (+2.54%), Ripple’s XRP (+2.30%), Stellar’s Lumen (+0.88%), and Tezos (+2.54%) also found support.

Bitcoin Cash ABC (-0.48%), EOS (-0.43%), Litecoin (-0.18%), and Tron’s TRX (-0.48%) bucked the trend on the day.

In the current week, the crypto total market cap fell to a Monday low $262.70bn before rising to a Thursday high $286.03bn. At the time of writing, the total market cap stood at $281.11n.

Bitcoin’s dominance rose to a Tuesday high 64.08% before sliding to a Thursday low 62.47. At the time of writing, Bitcoin’s dominance stood at 62.93%.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $9,592.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,615.5 to a low $9,585.7.

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

Elsewhere, it was another mixed start to the day. At the time of writing, Binance Coin was up by 0.04% to buck the trend.

It was a bearish start for the rest of the majors, with Tezos down by 1.36% to lead the way down.

BTC/USD 24/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $9,592 pivot to support a run at the first major resistance level at $9,709.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $9,685.4.

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

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,802.2 before any pullback.

Failure to avoid a fall back through the $9,592 pivot level would bring the first major support level at $9,500 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer well clear of sub-$9,300 levels. The second major resistance level at $9,381.4 should limit any downside.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 24th, 2020

EOS

EOS fell by 0.43% on Thursday. Partially reversing a 1.55% gain from Wednesday, EOS ended the day at $2.6565.

It was a mixed start to the day. EOS rose to an early morning high $2.6888 before falling to an early afternoon intraday low $2.6323.

Steering clear of the major support and resistance levels, EOS rallied to a mid-afternoon intraday high $2.6951.

EOS came within range of the first major resistance level at $2.6996 before sliding back to sub-$2.65 levels.

Finding late support, however, EOS moved back through to $2.65 levels to limit the loss on the day.

At the time of writing, EOS was down by 0.14% to $2.6528. A bearish start to the day saw EOS fall from an end of Thursday $2.6565 to $2.6528 at the start of the day.

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

EOS/USD 24/07/20 Daily Chart

For the day ahead

EOS would need to move through the $2.6613 pivot level to support a run at the first major resistance level at $2.6903.

Support from the broader market would be needed, however, for EOS to break back through to $2.69 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $2.6951 would likely cap any upside.

Failure to move through the $2.6613 pivot would bring the first major support level at $2.6275 into play.

Barring an extended sell-off, EOS should steer clear of sub-$2.60 levels. The second major support level sits at $2.5985.

Looking at the Technical Indicators

First Major Support Level: $2.6275

Pivot Level: $2.6613

First Major Resistance Level: $2.6903

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 4.31% on Thursday. Following on from Wednesday’s 7.53% rally, Ethereum ended the day at $275.68.

Tracking the broader market, Ethereum fell to a mid-morning intraday low $260.10 before making a move.

Steering well clear of the first major support level at $247.44, Ethereum rallied to a late afternoon intraday high $282.60.

Ethereum broke through the first major resistance levels at $275.31 before falling back to $271 levels.

Finding late support, Ethereum moved back through to $275 levels, with the first major resistance level capping the upside.

At the time of writing, Ethereum was down by 0.35% to $274.72. A mixed start to the day saw Ethereum rise to an early morning high $275.64 before falling to a low $274.62.

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

ETH/USD 24/07/20 Daily Chart

For the day ahead

Ethereum would need to avoid a fall through the $272.79 pivot to support a run at the first major resistance level at $285.49.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $282.60.

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

Failure to avoid a fall through the $272.79 pivot would bring the first major support level at $262.99 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the 23.6% FIB of $257.

Looking at the Technical Indicators

First Major Support Level: $262.99

Pivot Level: $272.79

First Major Resistance Level: $285.49

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 2.30% on Thursday. Following on from a 2.06% gain on Wednesday, Ripple’s XRP ended the day at $2.0881.

It was a mixed start to the day. Ripple’s XRP rose to an early morning high $0.20591 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP fell to a mid-morning intraday low $0.20208 before making a move.

Steering clear of the first major support level at $0.1987, Ripple’s XRP struck a late afternoon intraday high $0.21096.

Ripple’s XRP broke through the first major resistance level at $0.2073 and the second major resistance level at $0.2105.

A late pullback saw Ripple’s XRP fall back through the major resistance levels before returning to $0.208 levels.

At the time of writing, Ripple’s XRP was down by 0.21% to $0.20837. A mixed start to the day saw Ripple’s XRP fall rise to an early morning high $0.20882 before falling to a low $0.20837

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

XRP/USD 24/07/20 Daily Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2073 pivot to support a run at the first major resistance level at $0.2125.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.21096.

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

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2162 before any pullback.

Failure to avoid a fall through the $0.2073 pivot would bring the first major support level at $0.2036 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1984.

Looking at the Technical Indicators

First Major Support Level: $0.2036

Pivot Level: $0.2073

First Major Resistance Level: $0.2125

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 23rd, 2020

EOS

EOS rose by 1.55% on Wednesday Following on from a 2.32% gain from Tuesday, EOS ended the day at $2.6684

It was a bearish start to the day. EOS slid from an early morning high $2.6278 to a mid-morning intraday low $2.5857.

Steering clear of the major resistance levels, EOS fell through the first major support level at $2.5798 before finding support.

Finding support in the 2nd half of the day, EOS rallied to a late intraday high $ $2.6738 before easing back.

EOS broke through the first major resistance level at $2.6563 to wrap up the day at $2.66 levels.

At the time of writing, EOS was up by 0.08% to $2.6705. A mixed start to the day saw EOS rise to an early morning high $2.6706 before falling to a low $2.6654.

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

EOS/USD 23/07/20 Daily Chart

For the day ahead

EOS would need to avoid a fall through the $2.6426 pivot level to support a run at the first major resistance level at $2.6996.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.6738.

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

Failure to avoid a fall through the $2.6426 pivot would bring the first major support level at $2.6115 into play.

Barring an extended sell-off, EOS should steer clear of sub-$2.60 levels. The second major support level sits at $2.5545.

Looking at the Technical Indicators

First Major Support Level: $2.6115

Pivot Level: $2.6426

First Major Resistance Level: $2.6996

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 7.53% on Wednesday. Following on from a 4.13% rally on Tuesday, Ethereum ended the day at $264.28.

Tracking the broader market, Ethereum fell to a mid-morning intraday low $241.62 before making a move.

Steering clear of the first major support level at $238.71, Ethereum rallied to a late intraday high $269.49.

Ethereum broke through the day’s major resistance levels. A late pullback saw Ethereum fall back through the third major resistance level at $265.76.

More importantly, Ethereum broke through the 23.6% FIB of $257.

At the time of writing, Ethereum was up by 0.06% to $264.43. A mixed start to the day saw Ethereum fall to an early morning low $263.57 before rising to a high $264.78.

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

ETH/USD 23/07/20 Daily Chart

For the day ahead

Ethereum would need to avoid a fall through the $258.46 pivot to support a run at the first major resistance level at $275.31.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $269.49.

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

Failure to avoid a fall through the $258.46 pivot would bring the 23.6% FIB of $257 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the first major support level at $247.44. The second major support level sits at $230.59.

Looking at the Technical Indicators

First Major Support Level: $247.44

Pivot Level: $258.46

First Major Resistance Level: $275.31

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 2.06% on Wednesday. Following on from a 2.53% gain on Tuesday, Ripple’s XRP ended the day at $0.20408.

It was a bearish start to the day. Ripple’s XRP fell to a mid-morning intraday low $0.19649 before making a move.

Steering clear of the first major support level at $0.1956, Ripple’s XRP struck a late intraday high $0.20510.

Ripple’s XRP broke through the first major resistance level at $0.2028 to end the day at $0.2040 levels.

At the time of writing, Ripple’s XRP was up by 0.50% to $0.20510. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.20382 to a high $0.20510.

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

XRP/USD 23/07/20 Daily Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2020 pivot to support a run at the first major resistance level at $0.2073.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.2051.

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 $0.2105 before any pullback.

Failure to avoid a fall through the $0.2020 pivot would bring the first major support level at $0.1987 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1933.

Looking at the Technical Indicators

First Major Support Level: $0.1987

Pivot Level: $0.2020

First Major Resistance Level: $0.2073

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 22nd, 2020

Bitcoin, BTC to USD, rallied by 2.43% on Tuesday. Reversing a 0.56% decline from Monday, Bitcoin ended the day at $9.402.0.

It was a bullish start to the day. Bitcoin rallied from an early morning intraday low $9,174.4 to an early afternoon intraday high $9,457.2.

Bitcoin broke through the major resistance levels before falling back to $9,340 levels.

The pullback saw Bitcoin fall through the third major resistance level at $9,358.03 before returning to $9,400 levels.

Resistance at $9,400 capped the upside late in the day.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 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 Tuesday.

Tezos led the way, rallying by 9.29%.

Bitcoin Cash SV (+5.60%), Cardano’s ADA (+4.66%), Ethereum (+4.13%), Litecoin (+4.53%), also found strong support.

Binance Coin (+1.43%), Bitcoin Cash ABC (+2.60%), EOS (+2.32%), Monero’s XMR (+0.68%), Ripple’s XRP (+2.53%), Stellar’s Lumen (+2.59%), and Tron’s TRX (+2.42%) trailed the front runners.

At the start of the week, the crypto total market cap fell to a Monday low $262.70bn before striking a Tuesday high $274.62bn. At the time of writing, the total market cap stood at $270.71bn.

Bitcoin’s dominance fell to a Monday low 63.20% before rising to a Tuesday high 64.08%. At the time of writing, Bitcoin’s dominance stood at 63.76%.

This Morning

At the time of writing, Bitcoin was down by 0.30% to $9,373.9. A bearish start to the day saw Bitcoin fall from an early morning high $9,402.1 to a low $9,373.9.

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

Elsewhere, it was a mixed start to the day. Monero’s XMR bucked the trend at the time of writing, rising by 0.03%.

It was bearish for the rest of the majors, with Tezos down by 1.60% to lead the way down.

BTC/USD 22/07/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,345 pivot to support a run at the first major resistance level at $9,515.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $9,457.2.

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

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,627 before any pullback.

Failure to avoid a fall through the $9,345 pivot level would bring the first major support level at $9,232 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,100 levels. The second major resistance level sits at $9,062.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 22nd, 2020

EOS

EOS rose by 2.32% on Tuesday. Reversing a 0.83% fall from Monday, EOS ended the day at $2.6271.

It was a bullish day for the broader market. EOS rallied from an early morning intraday low $2.5618 to a late intraday high $2.6383.

Steering clear of the major support levels, EOS broke through the first major resistance level at $2.6120.

Falling short of the second major resistance level at $2.6555, EOS slipped back to end the day at $2.62 levels.

At the time of writing, EOS was down by 0.32% to 2.6188. A bearish start to the day saw EOS fall from an early morning high $2.6278 to a low $2.6178.

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

EOS/USD 22/07/20 Daily Chart

For the day ahead

EOS would need to avoid a fall through the $2.6091 pivot level to support a run at the first major resistance level at $2.6563.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.6383.

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

Failure to avoid a fall through the $2.6091 pivot would bring the first major support level at $2.5798 into play.

Barring an extended sell-off, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5326 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.5798

Pivot Level: $2.6091

First Major Resistance Level: $2.6563

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 4.13% on Tuesday. Reversing a 1.32% decline from Monday, Ethereum ended the day at $245.88.

Tracking the broader market, Ethereum rallied from an early morning intraday low $235.77 to a late intraday high $247.18.

Ethereum broke through the first major resistance level at $239.32 and the second major resistance level at $242.53. The major support levels had been left untested in the early part of the day.

Late in the day, Ethereum fell back to $244 levels before wrapping up the day at $245 levels.

At the time of writing, Ethereum was down by 0.42% to $244.84. A mixed start to the day saw Ethereum rise to an early morning high $245.92 before falling to a low $244.77.

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

ETH/USD 22/07/20 Daily Chart

For the day ahead

Ethereum would need to avoid a fall through the $242.94 pivot to support a run at the first major resistance level at $250.12.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $247.18.

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 $242.94 pivot would bring the first major support level at $238.71 into play.

Barring an extended sell-off, Ethereum should continue to steer clear of sub-$235 levels. The second major support level sits at $231.53.

Looking at the Technical Indicators

First Major Support Level: $238.71

Pivot Level: $242.94

First Major Resistance Level: $250.12

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 2.53% on Tuesday. Reversing a 2.45% slide from Monday, Ripple’s XRP ended the day at $0.19990.

It was a bullish start to the day. Ripple’s XRP rose from an early morning intraday low $0.19429 to a mid-day intraday $0.20145.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.1997.

A pullback through the afternoon saw Ripple’s XRP fall to sub-$0.1980 levels before finding late support.

The first major resistance level at $0.1997 capped the upside late in the day.

At the time of writing, Ripple’s XRP was down by 0.33% to $0.19924. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19996 to a low $0.19898

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

XRP/USD 22/07/20 Daily Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.1985 pivot to support a run at the first major resistance level at $0.2028.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.20145.

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 $0.2057 before any pullback.

Failure to avoid a fall through the $0.1985 pivot would bring the first major support level at $0.1956 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid sub-$0.19 levels. The second major support level at $0.1914 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.1956

Pivot Level: $0.1985

First Major Resistance Level: $0.2028

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 21st, 2020

EOS

EOS fell by 0.83% on Monday. Partially reversing a 3.17% rally from Sunday, EOS ended the day at $2.5685.

It was a choppy start to the day. EOS rose to a late morning intraday high $2.6196 before hitting reverse.

Falling well short of the first major resistance level at $2.6431, EOS fell back to sub-$2.57 levels before finding support.

EOS briefly revisited $2.60 levels again before sliding to a late intraday low $2.5402. Steering clear of the first major support level at $2.5013, EOS recovered to $2.56 levels to limit the downside.

At the time of writing, EOS was down by 0.26% to $2.5618. A bearish start to the day saw EOS fall from an early morning high $2.5675 to a low $2.5618.

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

EOS/USD 21/07/20 Daily Chart

For the day ahead

EOS would need to move through the $2.5761 pivot level to support a run at the first major resistance level at $2.6120.

Support from the broader market would be needed, however, for EOS to break back through to $2.61 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2.6196 would likely cap any upside.

Failure to move through the $2.5761 pivot would bring the first major support level at $2.5326 into play.

Barring another extended sell-off, EOS should continue to steer clear of sub-$2.45 levels. The second major support level at $2.4967 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.5326

Pivot Level: $2.5761

First Major Resistance Level: $2.6120

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.32% on Monday. Partially reversing a 1.44% decline from Sunday, Ethereum ended the day at $236.1.

It was also a choppy start to the day. Ethereum rose to an early morning intraday high $239.8 before hitting reverse.

Falling short of the first major resistance level at $241.69, Ethereum slid to a late intraday low $233.85.

Ethereum fell through the first major support level at $234.97 before moving back through to $236 levels.

At the time of writing, Ethereum was up by 0.11% to $236.35. A mixed start to the day saw Ethereum fall to an early morning low $235.77 before striking a high $236.46.

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

ETH/USD 21/07/20 Daily Chart

For the day ahead

Ethereum would need to move through the $236.6 pivot to support a run at the first major resistance level at $239.32.

Support from the broader market would be needed, however, for Ethereum to break back through to $239 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $239.8 should cap any upside.

Failure to move through the $236.6 pivot would bring the first major support level at $233.37 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $230.63 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $233.37

Pivot Level: $236.60

First Major Resistance Level: $239.32

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 2.45% on Monday. Reversing a 0.20% decline from Sunday, Ripple’s XRP ended the day at $0.19502.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday $0.20068 before hitting reverse.

Ripple’s XRP fell through the first major support level at $0.1965 and the second major support level at $0.1932.

Finding late support, Ripple’s XRP moved back through the second major support level to cut the deficit on the day.

At the time of writing, Ripple’s XRP was down by 0.04% to $0.19494. A relatively bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19497 to a low $0.19429.

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

XRP/USD 21/07/20 Daily Chart

For the day ahead

Ripple’s XRP will need to move through the $0.1960 pivot to support a run at the first major resistance level at $0.1997.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.199 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.20068 should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2044 before any pullback.

Failure to move through the $0.1960 pivot would bring the first major support level at $0.1913 into play.

Barring another extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1875.

Looking at the Technical Indicators

First Major Support Level: $0.1913

Pivot Level: $0.1960

First Major Resistance Level: $0.1997

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

Ethereum Weekly Price Forecast – Ethereum looking for support

ETH/USD

Ethereum markets fell against the US dollar again during the week, with a special emphasis on the Friday session as we lost over 5% during that day. However, when you look at the longer-term charts you can see that the $500 level has been somewhat important more than once. We are forming a bit of a hammer like candle, so that suggests that perhaps the buyers are getting ready to jump in again. If we can break above the top of the range for the week, Ethereum could find itself rallying towards the $600 level, possibly even the $700 level after that rather quickly.

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ETH/EUR

Ethereum markets also fell against the Euro, bouncing from the €400 level during the week. However, this candlestick is even more shaped like a hammer, and looks more like a classic reversal signal. If we can break above the top of this hmmer, then I believe the market will go looking towards the €500 level in the short term, and the €600 level longer term. This could be the beginning of Syria’s support. However, if we break below the bottom of this hammer, the market will almost assuredly reach towards the €300 level which is even more supportive. Longer-term, it’s hard to tell where we go but it certainly looks as if the market is starting to offer enough of a value proposition for at least some buyers to step in. Expect a noisy couple of weeks, but I do think that they will be very crucial ones.

ETH/USD Video 18.06.18

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Ethereum Price Forecast – Ethereum falls hard again on Friday

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As stated in the paragraph above, the Ethereum markets tried to take out the $500 resistance barrier late on Thursday but gave back those gains on Friday do lose over 6% at the time of this video. The market looks likely to continue to attract sellers every time at rallies, as the $520 level seems to be a rather significant area of clustering and therefore resistance. Market participants are best off shorting rallies as they have been consistent ways to make money. At this point, I anticipate that Ethereum will go looking towards the $460 level again, and then probably the psychologically important $450 level.

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ETH/EUR

Ethereum also fell against the Euro as one would expect. The markets look ready to go down to the €400 level again, which offered so much support on Thursday. Perhaps we will try to break down below there and go much lower. If we do, I anticipate that the initial target will be €375, followed very quickly by the €350 level. Rallies at this point seem to be a nice selling opportunity, with the €450 level above being a major barrier to get above. If we were to break above there, then I think we would rally towards the €500 level. However, at this point it doesn’t look very likely, at least not in the short term. I believe that Ethereum continues to be sold rather drastically, as crypto currency markets in general have been beaten up. There’s no reason to think this one will be any different.

ETH/USD Video 18.06.18

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Ethereum Price Forecast – Ethereum markets rally but fail on Thursday

ETH/USD

Ethereum markets rallied a bit during the trading session on Thursday only to find resistance at the $500 level. By doing so, we show that there is still plenty of noise above that can cause a lot of trouble. Ultimately, this is a market that should continue to be very bearish in the short term, perhaps reaching down to the $450 level. This is a market that I think continues to be a “sell the rallies” situation, unless of course we can break above the $500 level. If that happened, then the market could go much higher. If it does, that could change a lot of things. In the short term, I anticipate that we will probably continue to see sellers.

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ETH/EUR

The Ethereum markets initially when sideways during the trading session on Thursday but found the 50 SMA to be resistive enough to turn the market back around. It looks as if the market is going to go down to the €400 level, and then perhaps a break down below there. I think that short-term rallies continue to be a major opportunity to start selling again, and if we can break down below the recent lows, the market is likely to go much lower, perhaps reaching down to the €350 level. I don’t have any interest in buying this market, at least not until we would break above the €450 level, which of course is very resistive based upon the previous support. Market memory should continue to push this market lower at that level. I find it telling that the market failed to hold gains when the Euro fell in the Forex markets.

ETH/USD Video 15.06.18

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Ethereum Price Forecast – Ethereum falls again on Wednesday

ETH/USD

The Ethereum markets broke down a bit during the day on Wednesday, losing another 3% as I record this. I think that the market has plenty of resistance at the $500 level above, and I think if we can stay below that level, it’s likely that sellers will continue to jump into this market. The 50 SMA on the hourly chart seems to be offering a significant amount of psychological resistance, and therefore I think that it is only a matter time before the sellers return if we get close to that area. I believe that the $450 level underneath is going to be a bit of psychological support, but quite frankly I think that gets broken as well.

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ETH/EUR

Ethereum fell against the Euro as well, reaching down to the €400 level, a large, round, psychologically significant number. I think that the market breaking down below that level should send this market down to the €350 level next, which is the next psychologically important level. If we rally from here, I think the 50 SMA will continue to offer resistance as well, not to mention the €450 level above that. Overall, this is a market that continues offer plenty of selling opportunities if you are patient enough to wait for signs of exhaustion. I don’t have any interest in buying this market, at least not until we break above the €500 level above, which seems to be very unlikely right now as we have such a straightforward move lower and a relentless grind to the downside.

ETH/USD Video 14.06.18

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Ethereum Price Forecast – markets continue to churn

ETH/USD

Ethereum rallied slightly against the US dollar during trading on Tuesday but gave back most of the gains to form a relatively unchanged session. It looks as if the $540 level is offering resistance currently, but I think it makes sense that we continue to go higher based upon the higher lows that we have formed over the last couple of days. I think that there is a significant resistance barrier above at the $575 level, and if we can break above there the market really could start taking off towards $600. However, I suspect that rallies will be selling opportunities, and therefore I will look for signs of weakness to start shorting again.

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ETH/EUR

Ethereum also tried to rally against the Euro but found enough resistance to turn around and lose a slight amount of value during the day. I think that if we can break above the €465 level, the market will be free to go higher, perhaps reaching towards the €480 level and then the €500 level. This is most certainly a bearish market, and I think that the €430 level underneath will continue to offer support, but it would not surprise me at all to break through that level and go looking towards more important support levels. At this point, I suspect that the €500 level is massive resistance, and therefore should be thought of as the “ceiling” in the market currently.

ETH/USD Video 13.06.18

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Ethereum markets bounced slightly on Monday

ETH/USD

Ethereum markets fell against the US dollar during the trading over the weekend, which was due to increased governmental interference, and a hack in South Korea again. At this point, it’s difficult to get overly excited about crypto currencies, as we have seen so much in the way of bearish pressure over the longer-term. We have bounced from the $500 level, an area that of course has a significant amount of psychological importance as well as structural, but at this point it looks like more of a “dead cat bounce” than anything else. I believe that eventually we will see short-term exhaustion again, and then break down towards the $500 level. Once we get through there, the market unwinds drastically.

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ETH/EUR

Ethereum also bounced against the Euro, but quite frankly the small bounce that we have had is small in comparison of the selloff of the weekend, and of course we have made a fresh, new low, which of course is a negative sign as well. I think at this point it’s likely that we will see exhaustion sooner rather than later, and at that point it’s likely that the market will eventually find more sellers, and of course at this point I believe that the $500 level above is massive resistance. If we break down below the $430 level underneath, then the market could extend down to the $400 level rather quickly. In general, this is a “sell the rallies” type of situation yet again. There is a lot of noise in this market, and most of it is negative.

ETH/USD Video 12.06.18

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Ethereum markets fall for the week

ETH/USD

Ethereum fell during the week, but did form a hammer during the previous week, which of course is a very bullish sign. I think that it’s only a matter of time before the market rolls over, but we may have a bit of a bounce in the short term, based upon that hammer. I think that the $700 level above is going to offer significant resistance though, so it’s very unlikely that we can have a sustained to rally. I think that the market will eventually go looking towards the $400 level underneath which seems to be significant support. If we were to break above the $700 level, the last major high was $800, and that of course should be resistance as well.

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ETH/EUR

Ethereum fell slightly during the week against the Euro but seems to be somewhat supported by the €500 level. The hammer from the previous week of course is a bullish sign and it shows signs of support. We could get a short-term bounce, but I think it’s only a matter of time before we reach towards the bottom of the hammer from the previous week. If we do rally, I suspect that the €600 level will be resistance, as we have formed such a massive negative candle for the week a couple of weeks ago. If we break down below the hammer from the previous week, then I think that the market could go to the €400 level rather quickly. Beyond that, there is even more support at the €300 level.

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ETH/USD Video 11.06.18