MATIC, Ripple and Tron – Daily Analysis – 12/12/19

MATIC Network’s MATIC

MATIC rose by 3.52% on Wednesday. Following a 49.52% tumble on Tuesday, MATIC ended the day at $0.017874.

A relatively bullish start to the day saw MATIC rally from an early morning intraday low $0.016876 to a late morning intraday high $0.019562.

While steering clear of the major support and resistance levels, MATIC broke through the 23.6% FIB of $0.0186 before easing back.

The pullback saw MATIC fall back to a 2nd half of a day low $0.017009 and into the red before finding late support.

A late rally delivered the upside on the day.

At the time of writing, MATIC was down by 9.56% to $0.01617. A particularly bearish start to the day saw MATIC slide from an early morning high $0.018187 to a low $0.01544.

Falling short of the major resistance levels, MATIC fell through the first major support level at $0.0166.

Finding support at the second major support level at $0.0154, MATIC moved back through to $0.016 levels.

For the day ahead

MATIC would need to move through to $0.018 levels to support a run at the first major resistance level at $0.0193.

A move by the early afternoon would be needed, however, to support a possible rebound later in the day.

Failure to bounce back through to $0.018 levels by the early afternoon would likely see MATIC fall well short of $0.019 levels on the day.

Failure to move through to $0.018 levels could see MATIC slide deeper into the red.

A pullback through the second major support level could bring sub-$0.0150 levels into play before any recovery.

Barring another meltdown, MATIC should steer well clear of the third major support level at $0.0127.

Looking at the Technical Indicators

Major Support Level: $0.0166

Major Resistance Level: $0.0193

23.6% FIB Retracement Level: $0.0186

38.2% FIB Retracement Level: $0.0233

62% FIB Retracement Level: $0.0307

Ripple’s XRP

Ripple’s XRP fell by 0.88% on Wednesday. Following on from a 0.67% decline on Tuesday, Ripple’s XRP ended the day at $0.22160.

A mixed start to the day saw Ripple’s XRP fall from an early morning intraday high $0.22475 to a mid-morning low $0.22096.

Steering clear of the major support and resistance levels, Ripple’s XRP recovered to $0.2230 levels before hitting reverse.

The reversal saw Ripple’s XRP slide to an early afternoon intraday low $0.22080. Steering clear of the first major support level at $0.2203, Ripple’s XRP recovered to $0.222 levels before easing back.

At the time of writing, Ripple’s XRP was down by 1.16% to $0.02190. A choppy start to the day saw Ripple’s XRP rise to an early morning high $0.22370 before falling to a low $0.21746.

Ripple’s XRP came within range of the first major resistance at $0.2240 level before hitting reverse.

The reversal saw Ripple’s XRP slide through the first major support level at $0.2200 and the second major support level at $0.2184.

For the day ahead

A move back through the first major support level to $0.2225 levels would support a rebound.

Ripple’s XRP would need the support of the broader market, however, to break through the first major resistance level at $0.2240.

Barring a broad-based crypto rebound, the first major resistance level and Wednesday’s high $0.22475 would likely limit any upside.

Failure to move back through to $0.2225 levels could see Ripple’s XRP fall for a 4th consecutive day.

A fall back through the second major support level at $0.2184 would bring the third major support level at $0.2145 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.21 levels.

Looking at the Technical Indicators

Major Support Level: $0.2200

Major Resistance Level: $0.2240

23.6% FIB Retracement Level: $0.3841

38.2% FIB Retracement Level: $0.4964

62% FIB Retracement Level: $0.6780

Tron’s TRX

Tron’s TRX rose by 0.05% on Wednesday. Following a 2.09% slide on Tuesday, Tron’s TRX ended the day at $0.014207.

A choppy start to the day saw Tron’s TRX rise to an early morning high $0.014273 before sliding to a mid-morning low $0.01412.

Steering clear of the major support and resistance levels, Tron’s TRX bounced back to an early afternoon intraday high $0.01437.

Tron’s TRX came within range of the first major resistance level at $0.0144 before hitting reverse.

The reversal saw Tron’s TRX slide to a late afternoon intraday low $0.014050.

Tron’s TRX came within range of the first major support level at $0.01400 before moving back through to $0.01410 levels. A final hour move reversed losses from the day…

At the time of writing, Tron’s TRX was down by 1.01% to $0.014063. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.014299 before falling to a low $0.013967.

Falling short of the major resistance levels, Tron’s TRX fell through the first major support level at $0.0141.

Finding support at the second major support level at $0.0139, Tron’s TRX moved back through to $0.014 levels.

For the Day Ahead

Tron’s TRX would need to move through the first major support level to $0.01420 levels to support recovery.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.014299.

Barring a broad-based crypto rebound, Tron’s TRX would likely fall short of the first major resistance level at $0.01440.

Failure to move back through the first major support level to $0.0142 levels could weigh heavily on the day.

A fall back through to sub-$0.014 levels would bring the second major support level at $0.0139 into play once more,

Barring a crypto meltdown, however, Tron’s TRX would likely steer clear of sub-$0.0139 levels.

Looking at the Technical Indicators

Major Support Level: $0.01410

Major Resistance Level: $0.01450

23.6% FIB Retracement Level: $0.0663

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0322

Please let us know what you think in the comments below

Thanks, Bob