EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 13th, 2020


For the day ahead

Ethereum would need to avoid a fall through the $241 pivot to support a run at the first major resistance level at $245.64.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $243.9.

Barring another extended crypto rally, the first major resistance level and Sunday’s high $243.90 should cap any upside.

Failure to avoid a fall through the $241 pivot would bring the first major support level at $238.25 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $233.68 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $238.25

Pivot Level: $241

Major Resistance Level: $245.64

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 0.18% on Sunday. Following on from a 0.86% gain from Saturday, Ripple’s XRP ended the week up by 13.79% to $0.20162.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20340 before falling to a mid-morning low $0.19987.

Steering clear of the major resistance and support levels, Ripple’s XRP rallied to an early afternoon intraday high $0.20447.

Falling short of the first major resistance level at $0.2048, Ripple’s XRP tumbled to an early afternoon low $0.19805.

Finding support at the first major support level at $0.1979, Ripple’s XRP moved back through to $0.199 levels.

Late in the day, however, Ripple’s XRP slipped back to an intraday low $0.19792. Finding support at the first major support level at $0.1979, Ripple’s XRP wrapped up the day at $0.20 levels.

At the time of writing, Ripple’s XRP was down by 0.12% to $0.20138. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.20210 before falling to a low $0.20103.

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

This article was originally published on FX Empire
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