Impulse of the market price: XRP, EOS, ETH and ADA all bearish and on the back foot

In today's market impulse, we focus on the analysis of a major currency pair: XRP, EOS, ADA and ETH.

XRP

The price of the ripple has declined recently and has broken the support zone by $ 0.3750. XRP is now trading close to another support at $ 0.3660, below which there may be further losses.

• The price of the ripple declined after reaching a new weekly high at $ 0.3860.
• There is an uptrend line formed with support at $ 0.3685 on the 30-minute chart.
• The XRP must remain above $ 0.3660 to start a new upward move in the short term.

Overall, the ripple is preparing for the next move above $ 0.3750 or below $ 0.3660 in the near term. source

EOS

• Resistance levels: $ 6, $ 7, $ 8.
• Support levels: $ 3, $ 2, $ 1.

Yesterday, 7 January, the price of EOS was in an uptrend. The price of the crypt has reached the maximum of $ 3.0 but has faced resistance at that level. The tracked price interrupted the 12-day EMA and the 26-day EMA, but found support for the 26-day EMA. Today bears have broken under the 12-day EMA and 26-day EMA.

The price of encryption is likely to decrease as the price is lower than 12 days for EMA and 26 days for EMA. The crypto is trading at $ 2.79 as at the time of writing. If bearish pressure continued, the price could probably fall to a minimum of $ 2.51. In the meantime, the Stochastic is outside the overbought region but below the 20% range. This indicates that the price of EOS has a strong downward impulse and a sales signal. source

Ethereum

The second largest crypt on the market is trading at $ 152, although trading began this week at around $ 160. Ethereum is trading below the 50-day SMA and 100 days in the 1-hour chart. This means that bears continue to gain ground against buyers as the community waits for the rigid fork to be updated in less than a week. source

ADA

Cardano could be due to a huge inversion from the previous long-term slippage as an inverse head and shoulder model was formed in its 4-hour time frame. The price has yet to exceed the resistance of the neckline at 0.0500 level to confirm that an uptrend is underway.

The chart model extends from 0.0280 to 0.0500, so the resulting uptrend could be of the same height. The 100 SMA is already above the 200 long-term SMA to indicate that the path of least resistance is upward or that the uptrend is more likely to continue rather than reverse.

The price is traded above both the moving averages to indicate bullish pressure and also to have two levels of dynamic support that keep losses at risk in the event of declines.

However, RSI is heading south after reaching overbought levels, so the price may follow the sellers' example. The stochastic is also lowering to confirm that the selling pressure is at stake. Both oscillators have a lot of ground to cover before hitting oversold levels, which suggests that bears may have the upper hand for a while longer. source