EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 29/12/19

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EOS

EOS rose by 1.78% on Saturday. Following on from a 2.07% gain from Friday, EOS ended the day at $2.6345.

A bullish start to the day saw EOS rally from an early morning intraday low $2.5877 to a mid-morning high $2.6451.

Steering clear of the major support levels, EOS broke through the first major resistance level at $2.6158 before easing back.

While falling back to $2.62 levels, EOS held above the first major resistance level before striking a late intraday high $2.6804.

EOS broke through the second major resistance level at $2.6500 before falling back to sub-$2.64 levels.

At the time of writing, EOS was flat at $2.6346. A mixed start to the day saw EOS fall to an early low $2.6238 before striking an early morning high $2.6420.

EOS would need to move back through to $2.6350 levels to support a run at the first major resistance level at $2.6807.

Support from the broader market would be needed, however, for EOS to break back through the to $2.67 levels.

Barring an extended broad-based crypto rally, Saturday’s high $2.6804 and first major resistance level would likely limit any upside later the day.

Failure to move back through to $2.6350 levels could see EOS hit reverse. A fall through the morning low $2.6238 would bring the first major support level at $2.5880 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.5415.

Major Support Level: $2.5880

Major Resistance Level: $2.6807

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum rose by 1.33% on Saturday. Following on from a 1.40% increase on Friday, Ethereum ended the day at $127.91.

A bullish start to the day saw Ethereum rise from an early morning intraday low $125.80 to a mid-morning high $128.27.

Steering clear of the major support levels Ethereum broke through the first major resistance level at $127.90 before easing back.

Ethereum fell back to $126 levels before rallying to an early evening intraday high $129.60.

Breaking back through the first major resistance level, Ethereum came up against the second major resistance level at $129.58 before falling back.

In spite of the pullback, Ethereum managed to hold above the first major resistance level through to the day end.

At the time of writing, Ethereum was down by 0.16% to $127.70. A bearish start to the day saw Ethereum fall from an early morning high $127.95 to a low $127.54.

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