EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 22/12/19

EOS

EOS fell by 1.60% on Saturday. Reversing a 1.13% gain from Friday, EOS ended the day at $2.4528.

Bearish through the morning, EOS fell from an early morning intraday high $2.4926 to an early afternoon intraday low $2.4367.

Steering clear of the major resistance levels, EOS came within range of the first major support level at $2.4326.

Finding support at $2.43 levels EOS briefly visited $2.47 levels before a late pullback.

At the time of writing, EOS was up by 0.38% to $2.4622. A mixed start to the day saw EOS fall to an early morning low $2.4499 before striking a high $2.4622.

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

For the day ahead

EOS would need to steer clear of sub-$2.4600 levels to support a run at the first major resistance level at $2.4847.

Support from the broader market would be needed, however, for EOS to break out from $2.47 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $2.4926 would likely pin EOS back from $2.50 levels.

Failure to steer clear of sub-$2.46 levels could see EOS hit reverse. A fall through the morning low $2.4499 would bring the first major support level at $2.4288 into play.

Barring a crypto meltdown, however, EOS should steer clear of sub-$2.40 support levels. The second major support level at $2.4048 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $2.4288

Major Resistance Level: $2.4847

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.99% on Saturday. Reversing a 0.15% gain from Friday, Ethereum ended the day at $127.09.

Tracking the broader market, Ethereum fell from an early morning intraday high $128.45 to an early afternoon intraday low $126.63.

Falling well short of the first major resistance level at $129.89, Ethereum came within range of the first major support level at $126.28.

Finding support through the mid-afternoon, Ethereum managed to close out at $127 with sub-$127 support limiting the downside.

At the time of writing, Ethereum was up by 0.22% to $127.37. A mixed start to the day saw Ethereum fall to an early morning low $126.89 before striking a high $127.42.

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

For the day ahead

Ethereum would need to move back through to $127.40 levels to support a run at the first major resistance level at $128.15.

Support from the broader market would be needed for Ethereum to break back through to $128 levels.

Barring a broad-based crypto rally, however, Ethereum the first major resistance level and Saturday’s high $128.45 would likely limit any upside.

In the event of a breakout, the second major resistance level at $129.21 would likely come into play. Ethereum may well fall short of $130 levels for a 3^rd consecutive day, however.

Failure to move back through to $127.40 could see Ethereum hit reverse. A pullback through the morning low $126.89 would bring the first major support level at $126.33 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of sub-$125 levels. The second major support level at $125.57 would likely limit any downside.

Looking at the Technical Indicators

Major Support Level: $126.33

Major Resistance Level: $128.15

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 1.90% on Saturday. Partially reversing a 3.68% rally from Friday, Ripple’s XRP ended the day at $0.19236.

Bearish through the morning, Ripple’s XRP fell from an early intraday high $0.19699 to an early afternoon intraday low $0.19101.

In spite of the moves through the morning, Ripple’s XRP left the major support and resistance levels untested.

Steering clear of sub-$0.19 levels, Ripple’s XRP moved back through to $0.193 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.44% to $0.19320. Tracking the broader market, Ripple’s XRP fell to an early morning low $0.19150 before striking a high $0.19320.

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 $0.1940 levels support a run at the first major resistance level at $0.19590.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $0.19320.

Barring a broad-based crypto rebound, Saturday’s high $0.19699 and the first major resistance level would likely limit any upside.

Failure to move through to $0.1940 levels could see Ripple’s XRP slide back into the red.

A fall through the morning low $0.19150 would bring the first major support level at $0.1899 into play.

Barring another crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.1875.

Looking at the Technical Indicators

Major Support Level: $0.1899

Major Resistance Level: $0.1959

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