EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – July 22nd, 2020

For the day ahead

Ethereum would need to avoid a fall through the $242.94 pivot to support a run at the first major resistance level at $250.12.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $247.18.

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

Failure to avoid a fall through the $242.94 pivot would bring the first major support level at $238.71 into play.

Barring an extended sell-off, Ethereum should continue to steer clear of sub-$235 levels. The second major support level sits at $231.53.

Looking at the Technical Indicators

First Major Support Level: $238.71

Pivot Level: $242.94

First Major Resistance Level: $250.12

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 2.53% on Tuesday. Reversing a 2.45% slide from Monday, Ripple’s XRP ended the day at $0.19990.

It was a bullish start to the day. Ripple’s XRP rose from an early morning intraday low $0.19429 to a mid-day intraday $0.20145.

Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.1997.

A pullback through the afternoon saw Ripple’s XRP fall to sub-$0.1980 levels before finding late support.

The first major resistance level at $0.1997 capped the upside late in the day.

At the time of writing, Ripple’s XRP was down by 0.33% to $0.19924. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19996 to a low $0.19898

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