EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 18th, 2020
In This Article:
EOS
EOS fell by 0.19% on Friday. Following on from a 1.18% decline on Thursday, EOS ended the day at $.24991.
It was another mixed start to the day. EOS rose to an early morning high $2.5155 before hitting reverse.
Coming up short of the major resistance levels, EOS fell to a mid-morning intraday low $2.4767.
Steering clear of the first major support level at $2.4382, EOS struck a mid-day intraday high $2.5233 before easing back.
Falling short of the first major resistance level at $2.5641, EOS fell back to sub-$2.50 levels and into the red.
Finding support late in the day, EOS briefly moved back through to $2.50 levels before easing back.
At the time of writing, EOS was up by 0.18% to $2.5036. A bullish start to the day saw EOS rise from an early morning low $2.5036 to a high $2.5063.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through the $2.5000 pivot level to support a run at the first major resistance level at $2.5227.
Support from the broader market would be needed, however, for EOS to break back through to $2.52 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $2.5233 would likely cap any upside.
Failure to move through the $2.5000 pivot would bring the first major support level at $2.4761 into play.
Barring another extended sell-off, EOS should steer clear of sub-$2.40 levels. The third major support level at $2.4065 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2.4761
Pivot Level: $2.5000
First Major Resistance Level: $2.5227
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 0.33% on Friday. Following on from a 2.07% slide on Thursday, Ethereum ended the day at $232.7.
It was also another mixed start to the day. Ethereum rose to an early morning high $234.33 before hitting reverse.
Falling short of the first major resistance level at $238.46, Ethereum slid to a mid-morning intraday low $230.87.
Steering clear of the first major support level at $229.07, Ethereum moved back through to $233 levels before easing back.
At the time of writing, Ethereum was up by 0.16% to $233.07. A mixed start to the day saw Ethereum fall to an early morning low $232.49 before rising to a high $233.26.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid a fall through the $232.71 pivot to support a run at the first major resistance level at $234.54.