EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 01/06/20 – FX Empire


For the day ahead

Ethereum would need to move back through to $236 levels to bring the first major resistance level at $241.05 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $233.68.

Barring another broad-based crypto rally, the first major resistance level and Sunday’s high $245.46 would likely cap any upside.

Failure to move back through to $236 levels could see Ethereum hit reverse.

A fall through Sunday’s low $230.84 would bring the first major support level at $226.43 into play.

Barring another extended crypto sell-off, however, Ethereum should steer clear sub-$230 levels on the day.

Looking at the Technical Indicators

Major Support Level: $226.43

Major Resistance Level: $241.05

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 2.22% on Sunday. Partially reversing a 4.83% rally from Saturday, Ripple’s XRP ended the week up by 5.20% to $0.20249. In spite of the weekly gain, Ripple’s XRP fell by 4.31% in May.

A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20235 before breaking out.

Steering clear of the first major support level at $0.1995, Ripple’s XRP rallied to a late morning intraday high $0.21380.

Ripple’s XRP broke through the first major resistance level at $0.2113 before hitting reverse.

The reversal saw Ripple’s XRP slide to a final hour intraday low $0.20048 before steadying.

In spite of the pullback, Ripple’s XRP steered clear of sub-$0.20 levels and the first major support level at $0.1995.

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At the time of writing, Ripple’s XRP was up by 0.38% to $0.20326. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20115 before striking a high $0.20372.

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



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