EOS

EOS rose by 1.55% on Wednesday Following on from a 2.32% gain from Tuesday, EOS ended the day at $2.6684

It was a bearish start to the day. EOS slid from an early morning high $2.6278 to a mid-morning intraday low $2.5857.

Steering clear of the major resistance levels, EOS fell through the first major support level at $2.5798 before finding support.

Finding support in the 2nd half of the day, EOS rallied to a late intraday high $ $2.6738 before easing back.

EOS broke through the first major resistance level at $2.6563 to wrap up the day at $2.66 levels.

At the time of writing, EOS was up by 0.08% to $2.6705. A mixed start to the day saw EOS rise to an early morning high $2.6706 before falling to a low $2.6654.

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

For the day ahead

EOS would need to avoid a fall through the $2.6426 pivot level to support a run at the first major resistance level at $2.6996.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.6738.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $2.6426 pivot would bring the first major support level at $2.6115 into play.

Barring an extended sell-off, EOS should steer clear of sub-$2.60 levels. The second major support level sits at $2.5545.

Looking at the Technical Indicators

First Major Support Level: $2.6115

Pivot Level: $2.6426

First Major Resistance Level: $2.6996

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 7.53% on Wednesday. Following on from a 4.13% rally on Tuesday, Ethereum ended the day at $264.28.

Tracking the broader market, Ethereum fell to a mid-morning intraday low $241.62 before making a move.

Steering clear of the first major support level at $238.71, Ethereum rallied to a late intraday high $269.49.

Ethereum broke through the day’s major resistance levels. A late pullback saw Ethereum fall back through the third major resistance level at $265.76.

More importantly, Ethereum broke through the 23.6% FIB of $257.

At the time of writing, Ethereum was up by 0.06% to $264.43. A mixed start to the day saw Ethereum fall to an early morning low $263.57 before rising to a high $264.78.

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

For the day ahead

Ethereum would need to avoid a fall through the $258.46 pivot to support a run at the first major resistance level at $275.31.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $269.49.

Barring an extended crypto rally, the first major resistance level should cap any upside.

Failure to avoid a fall through the $258.46 pivot would bring the 23.6% FIB of $257 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the first major support level at $247.44. The second major support level sits at $230.59.

Looking at the Technical Indicators

First Major Support Level: $247.44

Pivot Level: $258.46

First Major Resistance Level: $275.31

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 2.06% on Wednesday. Following on from a 2.53% gain on Tuesday, Ripple’s XRP ended the day at $0.20408.

It was a bearish start to the day. Ripple’s XRP fell to a mid-morning intraday low $0.19649 before making a move.

Steering clear of the first major support level at $0.1956, Ripple’s XRP struck a late intraday high $0.20510.

Ripple’s XRP broke through the first major resistance level at $0.2028 to end the day at $0.2040 levels.

At the time of writing, Ripple’s XRP was up by 0.50% to $0.20510. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.20382 to a high $0.20510.

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

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2020 pivot to support a run at the first major resistance level at $0.2073.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.2051.

Barring a broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripple’s XRP should test the second major resistance level at $0.2105 before any pullback.

Failure to avoid a fall through the $0.2020 pivot would bring the first major support level at $0.1987 into play.

Barring an extended crypto sell-off, Ripple’s XRP should avoid the second major support level at $0.1933.

Looking at the Technical Indicators

First Major Support Level: $0.1987

Pivot Level: $0.2020

First Major Resistance Level: $0.2073

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

(Excerpt) Read more Here | 2020-07-22 17:22:37
Image credit: source

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