EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 12/03/20

EOS

EOS rose by 0.15% on Wednesday. Following on from 0.29% gain on Tuesday, EOS ended the day at $3.0827.

A mixed start to the day saw EOS rise to an early morning intraday high $3.1204 before hitting reverse.

Falling short of the first major resistance level at $3.1656, EOS slid to a late afternoon intraday low $2.8580.

The reversal saw EOS fall through the first major support level at $2.9992 and the second major support level at $2.9169.

Finding support late on, EOS broke back through the major support levels to a high $3.1084 before easing back.

At the time of writing, EOS was down by 0.06% to $3.0809. A mixed start to the day saw EOS rise to an early morning high $3.0969 before falling to a low $3.0689.

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

For the day ahead

EOS would need to move back through to $3.10 levels to bring the first major resistance level at $3.1827 into play.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.1204.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside on the day.

Failure to move back through to $3.10 levels could see EOS fall deeper into the red.

A fall back through to sub-$3.02 levels would bring the first major support level at $2.9203 into play.

Barring an extended crypto sell-off, however, EOS should steer clear of the second major support level at $2.7580.

Looking at the Technical Indicators

Major Support Level: $2.9203

Major Resistance Level: $3.1827

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 3.00% on Wednesday. Following on from a 1.11% fall on Tuesday, Ethereum ended the day at $194.61.

Tracking the broader market, Ethereum rose to an early morning intraday high $202.98 before hitting reverse.

Falling short of the first major resistance level at $206.13, Ethereum slid to a late afternoon intraday low $181.00.

The reversal saw Ethereum fall through the first major support level at $195.02 and the second major support level at $189.54.

Finding late support, Ethereum broke back through the major support levels before falling back through the first major support level.

At the time of writing, Ethereum was down by 0.33% to $193.96. A mixed start to the day saw Ethereum rise to an early morning high $195.64 before falling to a low $193.24.

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

For the day ahead

Ethereum would need to move back through to $200 levels to support a run at the first major resistance level at $204.73.

Support from the broader market would be needed, however, for Ethereum to breakout from Wednesday’s high $204.73.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to move back through to $200 levels could see Ethereum fall deeper into the red.

A fall back through the morning low $193.24 to sub-$193 levels would bring the first major support level at $182.75 into play.

Barring an extended crypto sell-off, Ethereum should continue to steer clear of sub-$180 support levels.

Looking at the Technical Indicators

Major Support Level: $182.75

Major Resistance Level: $204.73

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 1.45% on Wednesday. Reversing a 1.16% gain from Tuesday, Ripple’s XRP ended the day at $0.20936.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.21416 before hitting reverse.

Falling short of the first major resistance level at $0.2172, Ripple’s XRP slid to a late afternoon intraday low $0.20012.

Falling through the first major support level at $0.2070, Ripple’s XRP found support at the second major support level at $0.2015.

Ripple’s XRP recovered to $0.21 levels in the final hour before wrapping up the day at $0.2090 levels.

At the time of writing, Ripple’s XRP down by 0.19% to $0.20896. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.21095 before falling to a low $0.20852.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move back through to $0.21 levels to support a run at the first major resistance level at $0.2156.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.21416.

Barring a broad-based crypto rally, the first major resistance level will likely limit any upside.

Failure to move back through to $0.21 levels could see Ripple’s XRP fall deeper into the red.

A fall back through to sub-$0.2080 levels would bring the first major support level at $0.2016 into play.

Barring an extended crypto sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.1938.

Looking at the Technical Indicators

Major Support Level: $0.2016

Major Resistance Level: $0.2156

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob