EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 24/12/19

EOS

EOS fell by 0.97% on Monday. Partially reversing a 3.92% rally from Sunday, EOS ended the day at $2.5234.

A mixed morning saw EOS strike an early morning high $2.5961 before falling to a mid-morning low $2.5306.

EOS broke through the first major resistance level at $2.5910, whilst steering clear of the major support levels. Through the early afternoon, EOS rallied to a mid-afternoon intraday high $2.6142 before hitting reverse.

EOS broke back through the first major resistance level before sliding to a late intraday low $2.5007.

In spite of the pullback, EOS steered clear of the first major support level at $2.4775.

At the time of writing, EOS was down by 0.05% to $2.5222. A mixed start to the day saw EOS fall to an early morning low $2.5090 before striking a high $2.5276.

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

For the day ahead

EOS would need to move through to $2.5460 levels to support another run at the first major resistance level at $2.5915.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.5276.

Barring an extended broad-based crypto rally, the first major resistance level would likely pin EOS back from Monday’s high $2.6142.

Failure to move through to $2.5460 levels could see EOS slide deeper into the red. A fall through the morning low $2.5090 would bring sub-$2.50 levels into play before any recovery.

Barring a crypto meltdown, however, EOS should steer clear of the first major support level at $2.4780.

Looking at the Technical Indicators

Major Support Level: $2.4780

Major Resistance Level: $2.5915

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 3.49% on Monday. Partially reversing a 4.12% rally from Sunday, Ethereum ended the day at $127.78.

A bullish start to the day saw Ethereum rally to an early morning intraday high $135.24 before falling to a mid-morning low $131.06.

Ethereum broke through the first major resistance level at $134.78 in the early hours.

Steering clear of the major support levels, Ethereum struck an afternoon high $134.36 before sliding to a late intraday low $126.16.

Ethereum fell through the first major support level at $128.45.

At the time of writing, Ethereum was down by 0.14% to $127.60. A mixed start to the day saw Ethereum rise to an early morning high $128.50 before falling to a low $127.33.

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

For the day ahead

Ethereum would need to move through to $129.80 levels to support a run at the first major resistance level at $133.29.

Support from the broader market would be needed for Ethereum to break back through to $130 levels.

Barring a broad-based crypto rally, however, Ethereum resistance at $130 would likely pin Ethereum back on the day.

In the event of a breakout, resistance at $135 would likely continue to limit any upside on the day.

Failure to move through to $129.80 levels could see Ethereum take another hit. A pullback through to sub-$127 levels would bring the first major support level at $124.21 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of the second major support level at $120.65.

Looking at the Technical Indicators

Major Support Level: $124.21

Major Resistance Level: $133.29

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 3.45% on Monday. Reversing a 2.54% gain from Sunday, Ripple’s XRP ended the day at $0.19060.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.19944 before hitting reverse.

Ripple’s XRP came up against the first major resistance level at $0.19930 before sliding to a mid-morning low $0.19464.

Steering clear of the major support levels, Ripple’s XRP hit an afternoon high $0.19819 before sliding to a late intraday low $0.18900.

In spite of the sell-off, Ripple’s XRP steered clear of the first major support level at $0.1866 before moving back to $0.19 levels.

At the time of writing, Ripple’s XRP was up by 0.8% to $0.19213. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18922 to a high $0.19300.

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 $0.1930 levels to support another run at the first major resistance level at $0.1970.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.1950 levels.

Barring a broad-based crypto rebound, Monday’s high $0.19944 and the first major resistance level would likely limit any upside.

Failure to move through to $0.1930 levels could see Ripple’s XRP slide into the red.

A fall through to sub-$0.1900 levels would bring the first major support level at $0.1866 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer well clear of the second major support level at $0.1826.

Looking at the Technical Indicators

Major Support Level: $0.1866

Major Resistance Level: $0.1970

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