EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 12/05/20

EOS

EOS fell by 1.87% on Monday. Following on from an 11.0% tumble on Sunday, EOS ended the day at $2.4011.

A mixed start to the day saw EOS rise to an early morning high $2.4811 before falling to a late morning low $2.3909.

Steering clear of the major support and resistance levels, EOS rallied to a mid-day intraday high $2.4917 before hitting reverse.

Falling short of the first major resistance level at $2.7116, EOS slid to a late afternoon intraday low $2.2697.

Steering clear of the first major support level at $2.2216, EOS recovered to $2.40 levels to limit the loss.

At the time of writing, EOS was up by 0.79% to $2.4200. A bullish start to the day saw EOS rise from an early morning low $2.3968 to a high $2.4262.

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

For the day ahead

EOS would need to move through to $2.45 levels to bring the first major resistance level at $2.5053 into play.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.4917.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

Failure to move back through to $2.45 levels would see EOS slide into the red.

A fall through the morning low to sub-$2.39 levels would bring the first major support level at $2.2833 into play.

Barring another extended crypto sell-off, however, EOS should steer clear of sub-$2.20 levels.

Looking at the Technical Indicators

Major Support Level: $2.2833

Major Resistance Level: $2.5053

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.92% on Monday. Following on from a 10.63% tumble on Sunday, Ethereum ended the day at $185.93.

Tracking the broader market, Ethereum rose to an early morning high $191.23 before falling to a late morning low $183.89.

Steering clear of the major support and resistance levels, Ethereum struck a mid-day intraday high $193.77 before hitting reverse.

Falling short of the first major resistance level at $205.19, Ethereum slid to a late afternoon intraday low $176.43.

Avoiding the first major support level at $175.14 Ethereum found late support to limit the loss.

At the time of writing, Ethereum was up by 0.65% to $187.14. A bullish start to the day saw Ethereum rise from an early morning low $185.79 to a high $188.23.

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

For the day ahead

Ethereum would need to move through to $190 levels to bring the first major resistance level at $194.32 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $193.77.

Barring a broad-based crypto rally, the first major resistance level would likely leave Ethereum short of $200 levels.

Failure to move back through to $190 levels could see Ethereum fall back into the red.

A fall back through the morning low to sub-$185.40 levels would bring the first major support level at $176.98 into play.

Barring another extended sell-off, however, Ethereum should avoid sub-$170 levels.

Looking at the Technical Indicators

Major Support Level: $176.98

Major Resistance Level: $194.32

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 2.37% on Monday. Following on from an 8.68% slide on Sunday, Ripple’s XRP ended the day at $0.19233.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.2000 before hitting reverse.

Falling short of the first major resistance level at $0.2173, Ripple’s XRP fell back to a late morning low $0.19150.

Steering clear of the major support levels, Ripple’s XRP recovered to $0.19965 at mid-day before hitting reverse.

The reversal saw Ripple’s XRP slide to a late afternoon intraday low $0.18450. Steering clear of the first major support level at $0.1761, Ripple’s XRP recovered to $0.19 levels to limit the loss.

At the time of writing, Ripple’s XRP was up by 0.11% to $0.19254. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.19196 to a high $0.19367.

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 $0.1950 levels to bring the first major resistance level at $0.2001 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.19367.

Barring an extended crypto rally, the first major resistance level at $0.2001 would likely limit any upside.

Failure to move back through to $0.1950 levels could see Ripple’s XRP hit reverse.

A fall back through to sub-$0.1920 levels would bring the first major support level at $0.1846 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.18 support levels.

Looking at the Technical Indicators

Major Support Level: $0.1846

Major Resistance Level: $0.2001

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