EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 18/12/19

By December 18, 2019Ethereum
Click here to view original web page at finance.yahoo.com

EOS

EOS slid by 7.10% on Tuesday. Following on from a 7.48% tumble on Monday, EOS ended the day at $2.2110.

Bearish through the day, EOS fell from an early morning intraday high $2.3804 to a late morning low $2.3289 before finding support.

Steering clear of the major support and resistance levels, EOS recovered to $2.36 levels before hitting reverse.

The reversal saw EOS slide through the first major support level at $2.2487 to a late intraday low $2.1624.

Finding late support, EOS moved back to $2.2 levels to cut the deficit on the day.

At the time of writing, EOS was up by 1.45% to $2.2430. A bullish start to the day saw EOS rise from an early morning low $2.2028 to a high $2.2547.

EOS would need to move back through to $2.25 levels to support a run at the first major resistance level at $2.3402.

Support from the broader market would be needed, however, for EOS to break out from $2.20 levels.

Barring a broad-based crypto rally, resistance at $2.3 levels would likely pin EOS back on the day.

Failure to move through to $2.25 levels could see EOS hit reverse. A fall through the morning low $2.2028 would bring the first major support level at $2.1222 into play.

Barring a crypto meltdown, however, EOS should steer clear of sub-$2.00 levels. The second major support level at $2.0333 should limit any downside on the day.

Major Support Level: $2.1222

Major Resistance Level: $2.3402

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum tumbled by 7.96% on Tuesday. Following on from a 7.04% slide on Monday, Ethereum ended the day at $121.83

Tracking the broader market, Ethereum slid from an early morning intraday high $132.66 to a late intraday low $119.5.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $126.75 and second major resistance level at $121.14.

Ethereum’s first visit to sub-$120 levels since February was brief, however, with Ethereum closing out the day at $121 levels.

The late move saw Ethereum break back through the second major support level before the day end.

At the time of writing, Ethereum was up by 2.74% to $125.17. A bullish start to the day saw Ethereum rise from an early morning low $121.20 to a high $125.45.

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

EOS slid by 7.10% on Tuesday. Following on from a 7.48% tumble on Monday, EOS ended the day at $2.2110.

Bearish through the day, EOS fell from an early […]

Leave a Reply