Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19

Bitcoin Cash – ABC

Bitcoin Cash ABC fell by 0.48% on Thursday. Following on from a 0.76% decline on Wednesday, Bitcoin Cash ABC ended the day at $206.25.

A choppy day saw Bitcoin Cash ABC fall from an intraday high $207.75 to an early morning intraday low $203.65.

Bitcoin Cash ABC came up against the first major resistance level at $207.73 before falling through the first major support level at $204.08.

Through the 2^nd half of the day, Bitcoin Cash ABC managed to move back through to $207 levels before easing back. The first major resistance level limited the upside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.15% to $206.57. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $207.24 before falling back.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the Day Ahead

A move back through to $207 levels would support a run at the first major resistance level at $208.12.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from Thursday’s high $207.75.

Barring a broad-based crypto rally, resistance at $207 levels would likely continue to pin Bitcoin Cash ABC back.

Failure to move back through to $207 levels could see Bitcoin Cash ABC fall back into the red.

A fall through to sub-$205.90 levels would bring the first major support level at $204.02 into play before any recovery.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $201.78.

Looking at the Technical Indicators

Major Support Level: $204.02

Major Resistance Level: $208.12

23.6% FIB Retracement Level: $269

38% FIB Retracement Level: $316

62% FIB Retracement Level: $393

EOS

EOS rose by 0.36% on Thursday. Partially reversing a 1.12% fall from Wednesday, EOS ended the day at $2.5948

It was a particularly choppy day for EOS, which slid from an early morning high $2.6108 to a low $2.5376 before finding support.

Steering clear of the major resistance levels, EOS fell through the first major support level at $2.5477.

Late morning support led to recovery to $2.60 levels before sliding back to an early afternoon intraday low $2.5219.

The reversal saw EOS slide back through the first major support level before bouncing back to an intraday high $2.6180.

In spite of the rebound, however, EOS failed to test the first major resistance level at $2.6292 before easing back to sub-$2.60 levels.

At the time of writing, EOS was up by 0.02% to $2.5952. A mixed start to the day saw EOS rise to an early morning high $2.6056 before falling to a low $2.5888.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to move back through to $2.60 levels to support a run at the first major resistance level at $2.6392.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $2.6247.

Barring a broad-based crypto rally, resistance at $2.62 levels would likely limit any upside on the day.

Failure to move back through to $2.60 levels would likely see EOS fall back into the red.

A fall through to sub-$2.5810 levels would bring the first major support level at $2.5364 into play.

Barring an extended sell-off through the day, however, EOS should continue to steer clear of sub-$2.50 levels.

Looking at the Technical Indicators

Major Support Level: $2.5364

Major Resistance Level: $2.6392

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 0.98% on Thursday. Partially reversing a 1.55% fall from Wednesday, Ethereum ended the day at $144.69.

A mixed start to the day saw Ethereum fall from $144 levels to an early morning intraday low $139.10.

Falling short of the major resistance levels, Ethereum fell through the first major support level at $141.44.

Recovering through the morning, Ethereum rallied to a late afternoon intraday high $145.53 before easing back.

Ethereum fell short of the first major resistance level at $145.72 before pulling back to $144 levels.

At the time of writing, Ethereum was down by 0.16% to $144.46. A mixed start to the day saw Ethereum rise to an early morning high $145.06 before falling to a low $144.04.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move back through to $145 levels to support a run at the first major resistance level at $147.51.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $146.12.

Barring a broad-based crypto rally on the day, resistance at $146 would likely leave Ethereum short of $147 levels for a 3^rd consecutive day.

Failure to move back through to $145 levels could see Ethereum slide deeper into the red.

A fall back through the morning low $144.04 to $143.3 levels would bring the first major support level at $140.49 into play.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$140 and Thursday’s low $139.1.

Looking at the Technical Indicators

Major Support Level: $

Major Resistance Level: $

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Please let us know what you think in the comments below.

Thanks, Bob