Home Ripple Ripple (XRP), EOS (EOS) & OmiseGo (OMG) technical analysis 8th June – Perfect setup for a low-risk buy entry

Ripple (XRP), EOS (EOS) & OmiseGo (OMG) technical analysis 8th June – Perfect setup for a low-risk buy entry

5 min read

Ripple (XRP)

Ripple (XRP) started the week on a good note, having opened trading above last week’s close at $0.67. That’s despite the rest of the market opening low. Ripple has also been quite consistent in its moves in the last 4 days. While it hasn’t made any huge gains, it has made consistent gains, pushing up from a low of $0.63 to its current price of $0.68. Looking at the daily charts, ripple (XRP) has been trading along the 100-day moving average, with increasing volumes. That’s an indicator that bullish momentum is increasing. If volumes continue to rise, ripple could break above the 200-day moving average, and test $0.70 in the course of the day.

For an entry into Ripple (XRP) in the next 24 hours, it is best to watch the 12 hour chart. On this chart, ripple (XRP) has broken above the 55-day moving average. The next resistance level is at $0.70 along the 200-day moving average. If it breaks above this level in the next 12 hours, ripple (XRP) could easily test $0.73 at the 50-day moving average.  Failure to break above this price level, ripple (XRP) could see it retest $0.64 within the day. However, the day’s target is still $0.70.


In the weekly charts, EOS (EOS) has maintained above last week’s lows, which is an indicator that there is strong buying pressure in this crypto at the moment.  The same reflects in the daily charts, where EOS is trading along a strong support level on the 55-day moving average. This offers a perfect long-entry, with a target of $15.34. This price level has been a 6-day high, and EOS might experience some resistance around this price level.

The 12-hour chart offers good confirmation for a long-entry into EOS. On this chart, EOS (EOS) just broke above the 100-day moving average, a good indicator that there is sustained buying pressure in EOS. An entry at this price level offers a good low-risk entry into EOS. There is an increase in volumes on the 12-hour chart too, further confirming the setup for a long-entry.

OmiseGo (OMG)

On the weekly chart, OmiseGo (OMG) has already shown a clear sign of an early bull run, and its currently trading along last week’s high at $11.79. In the daily chart, it has formed a clear support at $10.97 and is steadily rising towards $13.17 along the 100-day moving average.

For a long-entry into OmiseGo, it is best to watch the 12-hour charts as well, for precision. Here, OmiseGo is sitting on a major resistance level on the 55-day moving average. If it breaks above it, the next support level will be at $13.19 on the 200-day moving average. In the case that OmiseGo (OMG) doesn’t break above the 55-day moving average on the 12 hour chart, there is a chance that it could retest the $10.97. However, the overall momentum is upwards, and the target is $13.17 – $13.20.

Overall, an investment in any of these 3 coins in the next 24 hours offers good potential for profit.

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