EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 26th, 2020

By June 26, 2020Ethereum
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For the day ahead

Ethereum would need to avoid a fall back through the $231.50 pivot to support a run at the first major resistance level at $236.00.

Support from the broader market would be needed, however, for Ethereum to break out from $235 levels.

Barring another extended crypto rally, the first major resistance level and Thursday’s high $235.24 should cap any upside.

In the event of another breakout, expect a run at the second major resistance level at $239.72 and $240 levels before any pullback.

Failure to avoid a fall through the $231.50 pivot could see Ethereum spend yet another day in the red.

A fall through to sub-$230 levels would bring the first major support level at $227.81 into play.

Barring another extended sell-off, Ethereum should steer clear of sub-$220 levels. The second major support level at $223.34 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $227.81

Major Resistance Level: $236.00

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 1.02% on Thursday. Following on from a 2.91% slide on Wednesday, Ripple’s XRP ended the day at $0.18171.

It was also a bullish start to the day for Ripple’s XRP. Ripple’s XRP rallied to an early morning intraday high $0.18425 before hitting reverse.

Falling well short of the first major resistance level at $0.1890, Ripple’s XRP tumbled to an early morning intraday low $0.17869.

Ripple’s XRP fell through the first major support level at $0.1800 before bouncing back to $0.18400 levels.

Through the 2nd half of the day, it was also relatively range-bound, with resistance at $0.1840 pinning Ripple’s XRP back.

In spite of a late fall to a low $0.18101, ripple’s XRP avoided a fall back through the first major support level at $0.1800.

At the time of writing, Ripple’s XRP was down by 0.20% to $0.18134. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18154 to a low $0.18134.

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

Ethereum would need to avoid a fall back through the $231.50 pivot to support a run at the first major resistance level at $236.00.

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