EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 19/12/19

EOS

EOS surged by 11.71% on Wednesday. Reversing a 7.10% slide from Tuesday, EOS ended the day at $2.4700.

A bearish start to the day saw EOS fall to an early afternoon intraday low $2.1739 before making a move.

Steering clear of the major support levels, EOS rallied to a late intraday high $2.535. EOS broke through the first major resistance level at $2.3402 and the second major resistance level at $2.4693.

At the time of writing, EOS was down by 1.18% to $2.4409. A bearish start to the day saw EOS fall from an early morning high $2.4885 to a low $2.4188.

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

For the day ahead

EOS would need to move back through the morning high $2.4885 to $2.50 levels to support a run at the first major resistance level at $2.6120.

Support from the broader market would be needed, however, for EOS to break out from $2.50 levels.

Barring a broad-based crypto rally, the first major resistance level would likely pin EOS back on the day.

Failure to move through to $2.50 levels could see EOS fall deeper into the red. A fall through the morning low $2.4188 would bring the first major support level at $2.2509 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at S2.0319.

Looking at the Technical Indicators

Major Support Level: $2.2509

Major Resistance Level: $2.6120

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 9.07% on Wednesday. Reversing a 7.96% slide from Tuesday, Ethereum ended the day at $132.89.

A bearish start to the day saw Ethereum slide to an early afternoon intraday low $116.25.

The reversal saw Ethereum fall through the first major support level at $116.67 before rallying to a late intraday high $134.81.

Ethereum broke through the first major resistance level at $129.83 to close out at $130 levels.

At the time of writing, Ethereum was down by 3.96% to $127.63. A bearish start to the day saw Ethereum slide from an early morning high $134.11 to a low $126.77.

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

For the day ahead

Ethereum would need to move back through to $130 levels to support a run at the first major resistance level at $139.72

Support from the broader market would be needed for Ethereum to break out from Wednesday’s high $134.81.

Barring a broad-based crypto rally, however, Ethereum would likely fall short of $135 levels on the day.

Failure to move through the morning low $126.77 would bring the first major support level at $121.16 into play.

Barring another crypto meltdown, however, Ethereum should steer well clear of the second major support level at $109.42.

Looking at the Technical Indicators

Major Support Level: $121.16

Major Resistance Level: $139.72

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP surged by 9.07% on Wednesday. Reversing most of a 10.76% slide on Tuesday, Ripple’s XRP ended the day at $0.19695.

Tracking the broader market, Ripple’s XRP slid to an early afternoon intraday low $0.17600.

Steering clear of the first major support level at $0.1730, Ripple’s XRP rallied to a late intraday high $0.20199.

Ripple’s XRP broke through the first major resistance level at $0.2012 before easing back to sub-$0.20 levels.

At the time of writing, Ripple’s XRP was down by 3.91% to $0.18924. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.19829 to a low $0.18777.

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

For the day ahead

A move through to $0.1916 levels would support a run at the first major resistance level at $0.2073.

Support from the broader market would be needed for Ripple’s XRP to break out from Wednesday’s high $0.20199.

Barring a broad-based crypto rebound, however, Ripple’s XRP would likely come up short of $0.20 levels on the day.

Failure to move back through to $0.1916 levels could see Ripple’s XRP struggle throughout the day.

A fall through the morning low $0.18777 would bring the first major support level at $0.1813 into play.

Barring another crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.1657.

Looking at the Technical Indicators

Major Support Level: $0.1813

Major Resistance Level: $0.2073

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