Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis – 14/12/19

Bitcoin Cash – ABC

Bitcoin Cash ABC rose by 1.88% on Friday. Reversing a 0.48% fall from Thursday, Bitcoin Cash ABC ended the day at $211.14.

A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $205.68 before making a move.

Steering clear of the major support levels, Bitcoin Cash ABC rallied to a late afternoon intraday high $212.61.

The rally saw Bitcoin Cash ABC break through the first major resistance level at $208.12 and second major resistance level at $209.98.

At the time of writing, Bitcoin Cash ABC was up by 0.02% to $211.18. Within the first hour, Bitcoin Cash ABC rose from an early morning low $210.60 to a high $211.18.

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

For the Day Ahead

A move back through to Friday’s high $212.61 would support a run at the first major resistance level at $213.94.

Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $212 levels.

Barring a broad-based crypto rally, resistance at $213 would likely pin Bitcoin Cash ABC back on the day.

In the event of a rally, the second major resistance level at $216.74 could come into play.

Failure to move back through Friday’s high $212.61 could weigh on Bitcoin Cash ABC later in the day.

A fall through to sub-$210 levels would bring the first major support level at $207.01 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 $202.88.

Looking at the Technical Indicators

Major Support Level: $207.01

Major Resistance Level: $213.94

23.6% FIB Retracement Level: $269

38% FIB Retracement Level: $316

62% FIB Retracement Level: $393

EOS

EOS rallied by 1.4% on Friday. Following on from a 0.36% gain on Thursday, EOS ended the day at $2.6313.

A mixed start to the day saw EOS fall to a mid-morning intraday low $2.5803 before finding support.

Steering clear of the first major support level at $2.5364, EOS…

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