EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 11th, 2020

By July 11, 2020Ethereum
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EOS

EOS fell by 1.00% on Friday. Following on from al 1.15% fall on Thursday, EOS ended the day at $2.6259.

A bearish start to the day saw EOS fall from an early morning intraday high $2.6497 to a mid-morning intraday low $2.5752.

EOS fell through the first major support level at $2.5805 before finding support.

Off the back of late support, EOS broke back through to $2.63 levels before easing back.

At the time of writing, EOS was flat at $2.6260.

For the day ahead

EOS would need to avoid a fall through the $2.6169 pivot level to support a run at the first major resistance level at $2.6587.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $2.6497.

Barring an extended crypto rally, the first major resistance level and Friday’s high $2.6497 would likely cap any upside.

Failure to avoid a fall through the $2.6169 pivot would bring the first major support level at $2.5842 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5424 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.5842

Major Resistance Level: $2.6587

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slipped by 0.33% on Friday. Following on from a 2.07% decline on Thursday, Ethereum ended the day at $241.20.

It was also a bearish start to the day. Ethereum fell from an early morning intraday high $242.12 to mid-morning intraday low $235.56.

The pullback saw Ethereum fall through the first major support level at $236.80 before finding support. Late in the day, Ethereum moved back through to $241 levels to limit the loss on the day.

At the time of writing, Ethereum was down by 0.04% to $241.10. A mixed start to the day saw Ethereum rise to an early morning high $241.58 before falling to a low $241.05.

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

For the day ahead

Ethereum would need to avoid a fall through the $239.60 pivot to support a run at the first major resistance level at $243.69.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $242.12.

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

EOS fell by 1.00% on Friday. Following on from al 1.15% fall on Thursday, EOS ended the day at $2.6259.

A bearish start to the day saw EOS fall […]

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