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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – January 26th, 2021

By:
Bob Mason
Updated: Jan 26, 2021, 08:13 UTC

It's a bullish start to the day for the majors. Failure to move through the day's pivot levels would likely lead to a reversal, however.

Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

In this article:

EOS

EOS rose by 2.57% on Monday. Reversing a 0.35% gain Sunday, EOS ended the day at $2.6487.

A bullish start to the day saw EOS strike an early morning intraday high $2.7897 before hitting reverse.

Coming up against the first major resistance level at $2.7895, EOS fell to a late morning low $2.6744.

Steering clear of the first major support level at $2.6381, EOS revisited $2.78 levels before a second sell-off.

The sell-off saw EOS fall through the first major support level at $2.6381 to a late intraday low $2.6087.

Steering clear of sub-$2.60 levels, EOS broke back through the first major support level to end the day at $2.648 levels.

At the time of writing, EOS was up by 0.47% to $2.6610. A mixed start to the day saw EOS fall to an early morning low $2.5938 before rising to a high $2.6925.

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

EOSUSD 260121 Daily Chart

For the day ahead

EOS would need to move through the $2.6824 pivot level to support a run at the first major resistance level at $2.7560.

Support from the broader market would be needed, however, for EOS to break back through to $2.75 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2.7897 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $2.90 before any pullback. The second major resistance level sits at $2.8634.

Failure to move through the pivot level at $2.6824 would bring the first major support level at $2.5750 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $2.5014.

Looking at the Technical Indicators

First Major Support Level: $2.5750

First Major resistance Level: $2.7560

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen slid by 3.87% on Monday. Reversing a 0.44% gain from Sunday, Stellar’s Lumen day at $0.2610.

A mixed start to the day saw Stellar’s Lumen rose to an early morning intraday high $0.2777 before hitting reverse.

Falling short of the first major resistance level at $0.2825, Stellar’s Lumen fell to a late morning low $0.2682.

Steering clear of the major support levels, Stellar’s Lumen revisited $0.277 levels before sliding to a late intraday low $0.26000.

Finding support at the first major support level at $0.2608, Stellar’s Lumen ended the day at $0.261 levels.

At the time of writing, Stellar’s Lumen was up by 1.01% to $0.2636. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2593 before rising to a high $0.2653.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLMUSD 260121 Daily Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.2662 pivot to bring the first major resistance level at $0.2725 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.27 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2777 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test the 38.2% FIB of $0.2823 and the second major resistance level at $0.2839.

Failure to move through the $0.2662 pivot would bring the first major support level at $0.2548 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear sub-$0.25 levels. The second major support level sits at $0.2485.

Looking at the Technical Indicators

First Major Support Level: $0.2548

First Major Resistance Level: $0.2725

23.6% FIB Retracement Level: $0.3187

38% FIB Retracement Level: $0.2823

62% FIB Retracement Level: $0.1850

Tron’s TRX

Tron’s TRX fell by 1.17% on Monday. Partially reversing a 1.69% gain from Sunday, Tron’s TRX ended the day at $0.02968.

A bullish start to the day saw Tron’s TRX rally to a mid-morning intraday high $0.03300 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.03108 and the second major resistance level at $0.03214.

The reversal saw Tron’s TRX slide through the 23.6% FIB of $0.0291 to a late intraday low $0.02895.

Steering clear of the first major support level at $0.02888, however, Tron’s TRX moved back through the 23.6% FIB to end the day at $0.0296 levels.

At the time of writing, Tron’s TRX was up by 0.89% to $0.02995. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02893 before striking a high $0.03028.

While Tron’s TRX left the major support and resistance levels untested early on, Tron’s TRX fell through the 23.6% FIB of $0.0291 before making a move.

TRXUSD 260121 Daily Chart

For the Day Ahead

Tron’s TRX need to move through the $0.03054 pivot to bring the first major resistance level at $0.03214 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.032 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.03300 would likely cap any upside.

In the event of an extended rally Tron’s TRX could resistance at $0.034 before any pullback. The second major resistance level sits at $0.03459.

Failure to move through the $0.03054 pivot would bring the 23.6% FIB of $0.0291 and the first major support level at $0.02809 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.027 levels. The second major support level at sits at $0.02649.

Looking at the Technical Indicators

First Major Support Level: $0.02809

First Major Resistance Level: $0.03214

23.6% FIB Retracement Level: $0.03211

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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