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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 30/12/19

It’s a choppy start to the week. Holding onto key levels early on would support a 2nd half rally…
Bob Mason
cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

EOS

EOS rallied by 2.46% on Sunday. Following on from a 1.78% gain on Saturday, EOS ended the week up by 5.99% to $2.7005.

Bullish through the day, EOS rallied from an early morning intraday low $2.6238 to a late intraday high $2.7257.

Steering clear of the first major support level at $2.5880, EOS broke through the first major resistance level at $2.6807.

Coming up against the second major resistance level at $2.7269, EOS fell back to sub-$2.70 levels before finding late support.

It was the first closeout at $2.7 levels since 8th December.

At the time of writing, EOS was up by 0.14% to $2.7044. A mixed start to the day saw EOS fall to an early morning low $2.6764 before striking a high $2.7155.

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

For the day ahead

EOS would need to steer clear of $2.68 levels to support a run at the first major resistance level at $2.7429.

Support from the broader market would be needed, however, for EOS to break back through the morning high $2.7155.

Barring an extended broad-based crypto rally, Sunday’s high $2.7257 and first major resistance level would likely limit any upside later the day.

Failure to steer clear of $2.68 levels would bring the first major support level at $2.6410 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.5814.

Looking at the Technical Indicators

Major Support Level: $2.6410

Major Resistance Level: $2.7429

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rallied by 4.96% on Sunday. Following on from a 1.33% gain on Saturday, Ethereum ended the week up by 1.44% to $134.3.

A bearish start to the day saw Ethereum fall to an early morning intraday low $127.22 before making a move.

Steering clear of the first major support level at $125.94, Ethereum rallied to a late intraday high $137.85.

Ethereum broke through the major resistance levels before falling back to $132 levels.

While holding above the second major resistance level at $131.57, Ethereum failed to break back through the third major resistance level at $135.37.

At the time of writing, Ethereum was up by 0.16% to $134.52. A mixed start to the day saw Ethereum fall to an early morning low $133.01 before striking a high $135.37.

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

For the day ahead

Ethereum would need to move through to $135 levels to support a run at the first major resistance level at $139.03.

Support from the broader market would be needed for Ethereum to break back through the morning high $135.37 to $136 levels.

Barring a broad-based crypto rally, however, Sunday’s high $137.85 would likely limit any upside.

In the event of an extended rally, $140 levels could come into play before any pullback.

Failure to move through to $135 levels could see Ethereum slide back into the red. A pullback through the morning low to $133.01 would bring the first major support level at $128.40 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of the second major support level at $122.49.

Looking at the Technical Indicators

Major Support Level: $128.40

Major Resistance Level: $139.03

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 1.92% on Sunday. Following on from a 1.54 gain on Saturday, Ripple’s XRP ended the week down by 0.03% at $0.19736.

A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $0.1914 before rallying to a late intraday high $0.19913.

Finding support at the first major support level at $0.1911, Ripple’s XRP broke through the first major resistance level at $0.1960 and the second major resistance level at $0.1982.

Coming within range of the third major resistance level at $0.2030, Ripple’s XRP fell back through the resistance levels.

Finding support late in the day, however, Ripple’s XRP broke back through the first major resistance level at $0.1960.

At the time of writing, Ripple’s XRP was down by 0.29% to $0.19679. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.19701 to a low $0.19536.

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

For the day ahead

Ripple’s XRP will need to hold onto $0.1960 levels support a run at the first major resistance level at $0.2005.

Support from the broader market would be needed, however, for Ripple’s XRP to break through the Sunday’s high $0.19913.

Barring an extended rally through the day, the first major resistance level and Sunday’s high $0.19913 would likely limit any upside.

Failure to hold onto $0.1960 levels could see Ripple’s XRP fall deeper into the red.

A fall through the morning low $0.19536 would bring the first major support level at $0.1928 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer of the second major support level at $0.1882.

Looking at the Technical Indicators

Major Support Level: $0.1928

Major Resistance Level: $0.2005

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

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