EOS & Ethereum Daily Tech Analysis –12/09/19

By September 13, 2019 Ethereum
Click here to view original web page at finance.yahoo.com

EOS

EOS fell by 0.49% on Wednesday. Following on from a 2.49% fall from Tuesday, EOS ended the day at $3.7614.

A bullish start to the day saw EOS rise to an early morning intraday high $3.8227 before hitting reverse.

Falling short of the first major resistance level at $3.9163, EOS slid to a late afternoon intraday low $3.6503.

The pull-back saw EOS slide through the first major support level at $3.6559 before finding support from the broader market.

A partial recovery to $3.7 levels, late on, reduced the deficit on the day.

While up by 5.23% for the current week, the extended bearish trend formed back at April 2018’s swing hi $23.03, remained firmly intact. EOS continued to fall short of the 23.6% FIB of $6.62 following a pullback from $8.65 levels in late June.

At the time of writing, EOS was down by 1.79% to $3.6941. Bearish through the morning, EOS fell from an early morning high $3.7801 to a low $3.6899 before finding support.

EOS would need to move back through to $3.7450 levels to support another run at $3.8 levels later in the day.

EOS would need the support of the broader market, however, to break out from this morning’s high $3.7801.

Barring a broad-based crypto rebound, EOS would likely come up short of the first major resistance level at $3.8393.

Failure to recover to $3.745 levels could see EOS slide deeper into the red. A fall through the morning low $3.6899 to $3.6700 levels would bring the first major support level at $3.6669 into play.

Barring a crypto meltdown, however, EOS should continue to steer clear of sub-$3.6 support levels on the day.

Major Support Level: $3.6669

Major Resistance Level: $3.8393

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum fell by 0.75% on Wednesday. Following on from a 0.55% decline on Tuesday, Ethereum ended the day at $178.3.

Tracking the broader market, Ethereum rallied to an early morning intraday high $182.49 before taking a hit.

Falling short of the first major resistance level at $183.93, Ethereum fell to a mid-morning low $175.5.

Finding support at the first major support level at $175.98, Ethereum recovered to $180 levels before succumbing to market forces.

A second sell-off saw Ethereum slide to a late afternoon intraday low $173.7. Ethereum fell back through the first major support level at $175.98.

A broad-based crypto recovery late in the day saw Ethereum move back through the first major support level to limit the downside on the day.

The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.

At the time of writing, Ethereum was down by 0.69% to $177.07. A bearish start to the day saw Ethereum fall from an early morning high $178.92 to a low $176.46.

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

EOS fell by 0.49% on Wednesday. Following on from a 2.49% fall from Tuesday, EOS ended the day at $3.7614.

A bullish start to the day saw EOS rise […]

Leave a Reply