EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 16th, 2020

By June 16, 2020Ethereum
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EOS

EOS fell by 1.39% on Monday. Following on from a 1.59% decline on Sunday, EOS ended the day at $2.5347.

It was a particularly bearish start to the day. EOS slid from an early morning intraday high $2.5703 to an early morning intraday low $2.4208.

EOS fell through the first major support level at $2.5260 and the second major support level at $2.4830.

Finding support in the late morning, EOS briefly broke back through the major support levels to a high $2.5501.

A late pullback, however, left EOS in the red.

At the time of writing, EOS was up by 0.09% to $2.5369. A range-bound start to the day saw EOS rise from a low $2.535 to a high $2.5369.

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

EOS would need to avoid a fall through the $2.5086 pivot level to take bring the first major resistance level at $2.5964 into play.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.5703.

Barring an extended crypto rally, the first major resistance level at $2.5964 would likely limit any upside.

Failure to avoid a fall through the $2.5086 pivot could see EOS in the red for a 3rd consecutive day.

A fall back through to sub-$2.50 levels would bring the first major support level at $2.4469 into play.

Barring another crypto sell-off, however, EOS should steer well clear of the second major support level at $2.3591.

Major Support Level: $2.4469

Major Resistance Level: $2.5964

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.16% on Monday. Following on from a 2.87% decline on Sunday, Ethereum ended the day at $230.98.

It was a particularly bearish start to the day. Ethereum tumbled from an early morning high $232.48 to a mid-morning intraday low $217.79.

The reversal saw Ethereum fall through the first major support level at $227.86 and the second major support level at $224.39

Finding support in the late morning, Ethereum rallied to a late intraday high $234.0 before easing back.

Ethereum came up well short of the first major resistance level at $236.7 in the 2nd half of a day rally.

At the time of writing, Ethereum was up by 0.03% to $231.05. A range-bound start to the day saw Ethereum rise from an early morning low $230.96 to a high $231.31.

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

EOS fell by 1.39% on Monday. Following on from a 1.59% decline on Sunday, EOS ended the day at $2.5347.

It was a particularly bearish start to the day. […]

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