EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 30/12/19
EOS
EOS rallied by 2.46% on Sunday. Following on from a 1.78% gain on Saturday, EOS ended the week up by 5.99% to $2.7005.
Bullish through the day, EOS rallied from an early morning intraday low $2.6238 to a late intraday high $2.7257.
Your capital is at risk
Steering clear of the first major support level at $2.5880, EOS broke through the first major resistance level at $2.6807.
Coming up against the second major resistance level at $2.7269, EOS fell back to sub-$2.70 levels before finding late support.
It was the first closeout at $2.7 levels since 8th December.
At the time of writing, EOS was up by 0.14% to $2.7044. A mixed start to the day saw EOS fall to an early morning low $2.6764 before striking a high $2.7155.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to steer clear of $2.68 levels to support a run at the first major resistance level at $2.7429.
Support from the broader market would be needed, however, for EOS to break back through the morning high $2.7155.
Barring an extended broad-based crypto rally, Sunday’s high $2.7257 and first major resistance level would likely limit any upside later the day.
Failure to steer clear of $2.68 levels would bring the first major support level at $2.6410 into play.
Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.5814.
Looking at the Technical Indicators
Major Support Level: $2.6410
Major Resistance Level: $2.7429
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum rallied by 4.96% on Sunday. Following on from a 1.33% gain on Saturday, Ethereum ended the week up by 1.44% to $134.3.
A bearish start to the day saw Ethereum fall to an early morning intraday low $127.22 before making a move.
Steering clear of the first major support level at $125.94, Ethereum rallied to a late intraday high $137.85.
Ethereum broke through the major resistance levels before falling back to $132 levels.
While holding above the second major resistance level at $131.57, Ethereum failed to break back through the third major resistance level at $135.37.
At the time of writing, Ethereum was up by 0.16% to $134.52. A mixed start to the day saw Ethereum fall to an early morning low $133.01 before striking a high $135.37.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $135 levels to support a run at the first major resistance level at $139.03.
Support from the broader market would be needed for Ethereum to break back through the morning high $135.37 to $136 levels.
Barring a broad-based crypto rally, however, Sunday’s high $137.85 would likely limit any upside.
In the event of an extended rally, $140 levels could come into play before any pullback.
Failure to move through to $135 levels could see Ethereum slide back into the red. A pullback through the morning low to $133.01 would bring the first major support level at $128.40 into play.
Barring a crypto sell-off, however, Ethereum should steer clear of the second major support level at $122.49.
Looking at the Technical Indicators
Major Support Level: $128.40
Major Resistance Level: $139.03
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 1.92% on Sunday. Following on from a 1.54 gain on Saturday, Ripple’s XRP ended the week down by 0.03% at $0.19736.
A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.1914 before rallying to a late intraday high $0.19913.
Finding support at the first major support level at $0.1911, Ripple’s XRP broke through the first major resistance level at $0.1960 and the second major resistance level at $0.1982.
Coming within range of the third major resistance level at $0.2030, Ripple’s XRP fell back through the resistance levels.
Finding support late in the day, however, Ripple’s XRP broke back through the first major resistance level at $0.1960.
At the time of writing, Ripple’s XRP was down by 0.29% to $0.19679. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19701 to a low $0.19536.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to hold onto $0.1960 levels support a run at the first major resistance level at $0.2005.
Support from the broader market would be needed, however, for Ripple’s XRP to break through the Sunday’s high $0.19913.
Barring an extended rally through the day, the first major resistance level and Sunday’s high $0.19913 would likely limit any upside.
Failure to hold onto $0.1960 levels could see Ripple’s XRP fall deeper into the red.
A fall through the morning low $0.19536 would bring the first major support level at $0.1928 into play.
Barring a crypto meltdown, however, Ripple’s XRP should steer of the second major support level at $0.1882.
Looking at the Technical Indicators
Major Support Level: $0.1928
Major Resistance Level: $0.2005
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
Thanks, Bob