EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 17/12/19

By December 17, 2019 Ethereum
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EOS

EOS slid by 7.48% on Monday. Following on from a 6.59% slide from last week, EOS ended the day at $2.3809.

Tracking the broader market, EOS fell from an early morning intraday high $2.5773 to a mid-morning low $2.5257.

Steering clear of the major resistance levels, EOS fell through the first major support level at $2.5456.

Finding support through the late morning, EOS recovered to $2.57 levels before hitting reverse.

The reversal saw EOS fall through the major support levels to a late intraday low $2.2816.

While finding late support, EOS failed to break back through the third major support level at $2.4609.

At the time of writing, EOS was down by 1.22% to $2.3519. A bearish start to the day saw EOS fall from an early morning high $2.3804 to a low $2.3412.

EOS would need to move through to $2.4150 levels to support a run at the first major resistance level at $2.5444.

Support from the broader market would be needed, however, for EOS to break out from $2.40 levels.

Barring a broad-based crypto rally, resistance at $2.5000 would likely pin EOS back on the day.

Failure to move through to $2.4150 levels could see EOS slide deeper into the red. A fall through the morning low $2.3412 would bring the first major support level at $2.2487 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at S2.1173.

Major Support Level: $2.2487

Major Resistance Level: $2.5444

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum tumbled by 7.04% on Monday. Following on from last week’s 5.51% fall, Ethereum ended the day at $132.36

A bearish start to the day saw Ethereum fall from an early intraday high $142.53 to a mid-morning low $140.11.

Finding support at the first major support level at $140.12, Ethereum recovered to $141.9 levels before the meltdown.

The meltdown saw Ethereum slide through the major support levels to a late intraday low $129.03.

While finding support late on, Ethereum failed to break back through the third major support level at $133.68.

At the time of writing, Ethereum was down by 0.65% to $131.50. A mixed start to the day saw Ethereum rise to an early morning high $132.66 before falling to a low $130.67.

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

EOS slid by 7.48% on Monday. Following on from a 6.59% slide from last week, EOS ended the day at $2.3809.

Tracking the broader market, EOS fell from an […]

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