Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 13/12/19

Bitcoin Cash – ABC

Bitcoin Cash ABC fell by 0.48% on Thursday. Following on from a 0.76% decline on Wednesday, Bitcoin Cash ABC ended the day at $206.25.

A choppy day saw Bitcoin Cash ABC fall from an intraday high $207.75 to an early morning intraday low $203.65.

Bitcoin Cash ABC came up against the first major resistance level at $207.73 before falling through the first major support level at $204.08.

Through the 2nd half of the day, Bitcoin Cash ABC managed to move back through to $207 levels before easing back. The first major resistance level limited the upside on the day.

At the time of writing, Bitcoin Cash ABC was up by 0.15% to $206.57. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $207.24 before falling back.

Bitcoin Cash ABC left the major support and resistance levels untested early on.

For the Day Ahead

A move back through to $207 levels would support a run at the first major resistance level at $208.12.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from Thursday’s high $207.75.

Barring a broad-based crypto rally, resistance at $207 levels would likely continue to pin Bitcoin Cash ABC back.

Failure to move back through to $207 levels could see Bitcoin Cash ABC fall back into the red.

A fall through to sub-$205.90 levels would bring the first major support level at $204.02 into play before any recovery.

Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the second major support level at $201.78.

Looking at the Technical Indicators

Major Support Level: $204.02

Major Resistance Level: $208.12

23.6% FIB Retracement Level: $269

38% FIB Retracement Level: $316

62% FIB Retracement Level: $393

EOS

EOS rose by 0.36% on Thursday. Partially reversing a 1.12% fall from Wednesday, EOS ended the day at $2.5948

It was a particularly choppy day for EOS, which slid from an early morning high $2.6108 to a low $2.5376 before finding support.

Steering clear of the major…

Source Link