EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 12/01/20

EOS

EOS rose by 0.34% on Saturday. Following on from an 8.28% surge on Friday, EOS ended the day at $2.9945.

A mixed start to the day saw EOS fall to an early morning intraday low $2.9301 before making a move.

Steering clear of the first major support level at $2.7495, EOS rallied to a late intraday high $3.1242.

EOS broke through the first major resistance level at $3.0999 before sliding back to sub-$3 levels.

At the time of writing, EOS was up by 1.10% to $3.0273. Another mixed start to the day saw EOS fall to an early morning low $2.9305 before striking a high $3.0449.

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

For the day ahead

EOS would need to steer clear of sub-$3.020 levels to support a run at the first major resistance level at $3.1024.

Support from the broader market would be needed, however, for EOS to breakout from the morning high $3.0449.

Barring an extended broad-based crypto rally, the first major resistance level and Saturday’s high $3.1242 would likely limit any upside.

Failure to steer clear of sub-$3.020 levels could see EOS hit reverse.

A fall through the morning low $2.9305 would bring the first major support level at $2.9083 into play.

Barring a crypto meltdown, however, EOS should steer clear of sub-$2.90 levels and the second major support level at $2.8222.

Looking at the Technical Indicators

Major Support Level: $2.9083

Major Resistance Level: $3.1024

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 1.56% on Saturday. Partially reversing a 5.08% rally from Friday, Ethereum ended the day at $142.63.

A mixed start to the day saw Ethereum rise to an early morning high $145.25 before falling back to $142 levels.

Steering clear of the major support and resistance levels, Ethereum rallied to a late afternoon intraday high $148.0.

Ethereum came within range of the first major resistance level at $148.60 before sliding back to $142 levels and into the red.

At the time of writing, Ethereum was up by 0.99% to $144.04. A mixed start to the day saw Ethereum fall to an early morning low $141.83 before striking a high $144.39.

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

For the day ahead

Ethereum would need to hold onto $144 levels to support a run at the first major resistance level at $146.42.

Support from the broader market would be needed for Ethereum to break through to $145 levels.

Barring a broad-based crypto rally, however, the first major resistance level and Saturday’s high $148 would likely pin Ethereum back from $160.

Failure to hold onto $144 levels could see Ethereum fall back into the red.

A fall through the morning low $141.83 levels would bring the first major support level at $140.42 into play.

Barring a crypto sell-off, however, Ethereum should steer well clear of sub-$140 levels.

Looking at the Technical Indicators

Major Support Level: $140.42

Major Resistance Level: $146.42

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 0.58% on Saturday. Partially reversing a 4.18% gain from Friday, Ripple’s XRP ended the day at $0.21137.

A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.21430 before sliding to an intraday low $0.20809.

Steering clear of the first major support level at $0.2043, Ripple’s XRP rallied to a late intraday high $0.21978.

Ripple’s XRP broke through the first major resistance level at $0.2165 before sliding back into the red.

At the time of writing, Ripple’s XRP was down by 1.11% to $0.20992. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20947 before striking a high $0.21489.

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

For the day ahead

Ripple’s XRP will need to move back through to $0.2130 levels to support a run at the first major resistance level at $0.2181.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.21489.

Barring a broad-based crypto rebound, the first major resistance level and Saturday’s high $0.21978 would likely limit any upside.

Failure to move back through to $0.2130 levels could see Ripple’s XRP take a hit.

A fall through to sub-$0.21 levels would bring the first major support level at $0.2064 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.20 levels. The second major support level at $0.2014 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.2064

Major Resistance Level: $0.2181

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