EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 25th, 2020

For the day ahead

Ethereum would need to avoid a fall through the $278.59 pivot to support a run at the first major resistance level at $288.80.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $287.8.

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

Failure to avoid a fall through the $278.59 pivot would bring the first major support level at $269.39 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$260 levels. The second major support level sits at $259.18.

Looking at the Technical Indicators

First Major Support Level: $269.39

Pivot Level: $278.59

First Major Resistance Level: $288.80

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 2.07% on Friday. Reversing a 2.30% gain from Thursday, Ripple’s XRP ended the day at $0.20445.

It was a bearish start to the day. Ripple’s XRP slid from an early morning intraday high $0.20882 to a mid-morning intraday low $0.20212.

The reversal saw Ripple’s XRP fall through the first major support level at $0.2036 before finding support.

Ripple’s XRP moved back through to $0.20775 late in the day before falling back into the deep red.

The first major support level limited the downside late in the day.

At the time of writing, Ripple’s XRP was up by 0.09% to $0.20463. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20401 before striking a high $0.20468.

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