EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 20th, 2020

EOS

EOS fell by 0.39% on Friday. Following on from a 1.19% decline on Thursday, EOS ended the day at $2.5256.

It was yet another mixed start to the day. EOS slid to an early morning intraday low $2.034 before making a move.

Finding support at the first major support level at $2.5026, EOS bounced back to a late morning intraday high $2.5500.

Falling well short of the first major resistance level at $2.5793, EOS fell back to sub-$2.52 levels and into the red. A late move back through to $2.52 levels limited the loss on the day.

At the time of writing, EOS was up by 0.08% to $2.5275. A mixed start to the day saw EOS fall to an early morning low $2.5224 before rising to a high $2.5275.

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

For the day ahead

EOS would need to avoid a fall back through the $2.5265 pivot level to bring the first major resistance level at $2.5493 into play.

Support from the broader market would be needed, however, for EOS to break out from $2.53 levels.

Barring an extended crypto rally, the first major resistance level at $2.5493 would likely limit any upside.

Failure to avoid a fall back through the $2.5265 pivot could see EOS struggle on the day.

A fall back through the morning low $2.5224 would bring the first major support level at $2.5027 into play.

In the event of an extended sell-off, the second major support level at $2.4797 would likely come into play.

Looking at the Technical Indicators

Major Support Level: $2.5027

Major Resistance Level: $2.5493

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.03% on Friday. Following on from Thursday’s 1.09% pullback, Ethereum ended the day at $228.66.

A bearish start to the day saw Ethereum slide to an early morning intraday low $226.43 before making a move.

Ethereum fell through the first major support level at $227.45 before striking a mid-day intraday high $231.90.

Coming up short of the first major resistance level at $234.58, Ethereum slid back to sub-$228 before finding late support.

At the time of writing, Ethereum was down by 0.14% to $228.35. A mixed start to the day saw Ethereum rise to an early morning high $228.89 before falling to a low $228.34.

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

For the day ahead

Ethereum would need to move through the $229 pivot to support a run at the first major resistance level at $231.56.

Support from the broader market would be needed, however, for Ethereum to break out from $230 levels.

Barring another extended crypto rally, the first major resistance level and Friday’s high $231.90 should cap any upside.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Failure to move through the $229 pivot could see Ethereum see red for a 4th consecutive day.” data-reactid=”80″>Failure to move through the $229 pivot could see Ethereum see red for a 4th consecutive day.

A fall through to sub-$229 levels would bring the first major support level at $226.09 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.53 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $226.09

Major Resistance Level: $231.56

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 1.47% on Friday. Following on from a 1.68% decline on Thursday, Ripple’s XRP ended the day at $0.18722.

Tracking the broader market, Ripple’s XRP slid to an early morning intraday low $0.18663 before making a move.

Ripple’s XRP fell through the first major support level at $0.1878 before striking a late morning intraday high $0.19045.

Falling short of the first major resistance level at $0.1928, Ripple’s XRP slid back to sub-$0.0188 levels.

The first major support level at $0.1878 limited the downside late in the day.

At the time of writing, Ripple’s XRP was down by 0.23% to $0.18679. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18737 to a low $0.18679.

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

For the day ahead

Ripple’s XRP will need to move through the $0.1880 pivot to support a run at the first major resistance level at $0.1896.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from a morning high $0.18737

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $0.19045 would likely cap any upside.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Failure to move through the $0.1880 pivot could see Ripple’s XRP spend a 3rd consecutive day in the red.” data-reactid=”117″>Failure to move through the $0.1880 pivot could see Ripple’s XRP spend a 3rd consecutive day in the red.

A fall back through to sub-$0.1870 levels would bring the first major support level at $0.1857 into play.

In the event of an extended crypto sell-off, the second major support level at $0.1842 would likely come into play. Ripple’s XRP should avoid the third major support level at $0.1804, however.

Looking at the Technical Indicators

Major Support Level: $0.1857

Major Resistance Level: $0.1896

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Please let us know what you think in the comments below.” data-reactid=”126″>Please let us know what you think in the comments below.

Thanks, Bob

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article was originally posted on FX Empire” data-reactid=”128″>This article was originally posted on FX Empire

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