EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 25/12/19

EOS

EOS rose by 1.09% on Tuesday. Reversing a 0.97% fall from Monday, EOS ended the day at $2.5519.

A bearish start to the day saw EOS fall from an early morning high $2.5319 to a mid-morning intraday low $2.4884.

Steering clear of the first major support level at $2.4780, EOS bounced back to an early afternoon intraday high $2.5730.

Falling short of the first major resistance level at $2.5915, EOS eased back to $2.50 levels before finding late support.

At the time of writing, EOS was down by 0.66% to $2.5350. A bearish start to the day saw EOS fall from an early morning high $2.5541 to a low $2.5248.

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

For the day ahead

EOS would need to move through to $2.5380 levels to support a run at the first major resistance level at $2.5871.

Support from the broader market would be needed, however, for EOS to break out from the Tuesday’s high $2.5730.

Barring an extended broad-based crypto rally, the first major resistance level would likely limit any upside on the day.

Failure to move through to $2.5380 levels could see EOS slide deeper into the red. A fall through the morning low $2.5248 would bring the first major support level at $2.5025 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.4532.

Looking at the Technical Indicators

Major Support Level: $2.5025

Major Resistance Level: $2.5871

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slipped by just 0.03% on Tuesday. Following on from a 3.49% slide on Monday, Ethereum ended the day at $127.71.

A bearish start to the day saw Ethereum fall to a mid-morning intraday low $126.50 before finding support.

Steering clear of the first major support level at $124.21, Ethereum struck an early afternoon intraday high $129.50.

Falling short of the first major resistance level at $133.29, Ethereum fell back to $126 levels before finding late support.

At the time of writing, Ethereum was down by 1.22% to $126.15. A bearish start to the day saw Ethereum fall from an early morning high $127.77 to a low $125.00.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $126.31 early on.

For the day ahead

Ethereum would need to move through to $127.90 levels to support a run at the first major resistance level at $129.31.

Support from the broader market would be needed for Ethereum to break out from the first major support level at $126.31.

Barring a broad-based crypto rally, however, the first major resistance level would likely leave Ethereum short of $130 for a 2^nd consecutive day.

Failure to move through to $127.90 levels could see Ethereum see red for a 3^rd consecutive day. A pullback through the morning low $125.00 would bring the second major support level at $124.90 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of sub-$124 levels on the day.

Looking at the Technical Indicators

Major Support Level: $126.31

Major Resistance Level: $129.31

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 0.70% on Tuesday. Partially reversing a 3.45% slide on Monday, Ripple’s XRP ended the day at $0.19150.

A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.18922 to an early afternoon intraday high $0.19418.

Falling short of the first major resistance level at $0.1970, Ripple’s XRP fell back to a late afternoon intraday low $0.18806.

Steering clear of the first major support level at $0.1866, Ripple’s XRP moved back through to $0.19 levels and into the green for the day.

At the time of writing, Ripple’s XRP was down by 1.07% to $0.18945. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19182 to a low $0.18871.

Steering clear of the major resistance levels, Ripple’s XRP came within range of the first major support level at $0.1883 early on.

For the day ahead

Ripple’s XRP will need to move back through to $0.1915 levels support a run at the first major resistance level at $0.1944.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.19182.

Barring a broad-based crypto rebound, Tuesday’s high $0.19418 and the first major resistance level would likely limit any upside.

Failure to move through to $0.1915 levels could see Ripple’s XRP slide deeper into the red.

A fall through to sub-$0.1890 levels would bring the first major support level at $0.1883 back into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer well clear of sub-$0.18 levels. The second major support level at $0.1851 should limit the downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.1883

Major Resistance Level: $0.1944

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