EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 01/01/20
In This Article:
EOS
EOS fell by 1.54% on Tuesday. Following on from a 2.37% slide on Monday, EOS ended the day at $2.5904.
A choppy start to the day saw EOS rise to a mid-morning high $2.6523 before falling to a late morning low $2.6012.
Steering clear of the major support and resistance levels, EOS struck an early afternoon intraday high $2.6591 before hitting reverse.
Falling short of the first major resistance level at $2.7025, EOS slid to a late intraday low $2.5723.
EOS fell through the first major support level at $2.5847 before wrapping up the day at $2.59 levels.
At the time of writing, EOS was up by 0.94% to $2.6148. A bullish start to the day saw EOS rise from an early morning low $2.5794 to a high $2.6348.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to steer clear of sub-$2.61 levels to support a run at the first major resistance level at $2.6422.
Support from the broader market would be needed, however, for EOS to break back through the morning high $2.6348.
Barring an extended broad-based crypto rally, the first major resistance level at $2.6422 would likely limit any upside later the day.
Failure to steer clear of sub-$2.61 levels would bring the first major support level at $2.5554 into play.
Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.5205.
Looking at the Technical Indicators
Major Support Level: $2.5554
Major Resistance Level: $2.6422
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum
Ethereum fell by 1.94% on Tuesday. Following on from a 2.39% slide on Monday, Ethereum ended the day at $128.54.
A mixed start to the day saw Ethereum rise from an early morning low $130.31 to a mid-morning high $132.54 before easing back.
Steering clear of the major support and resistance levels, Ethereum struck an early afternoon intraday high $133.19.
Falling short of the first major resistance level at $134.78, Ethereum slid to a late intraday low $127.60.
Ethereum fell through the first major support level at $128.60 before steadying. While finding late support, however, Ethereum was unable to break back through the first major support level.
At the time of writing, Ethereum was up by 0.95% to $129.76. A bullish start to the day saw Ethereum rise from an early morning low $128.12 to a high $130.50 before easing back.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to move through to $130 levels to support a run at the first major resistance level at $131.95.