EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 10th, 2020

EOS

EOS rose by 0.42% on Wednesday. Partially reversing a 5.14% slide from Tuesday, EOS ended the day at $2.8113.

A bearish start to the day saw EOS fall to a late morning intraday low $2.6602 before making a move.

EOS fell through the first major support level at $2.7012 before striking a late intraday high $2.8383.

Falling short of the first major resistance level at $2.9342, EOS eased back to end the day at $2.81 levels.

At the time of writing, EOS was down by 0.55% to $2.7960. A mixed start to the day saw EOS rise to an early morning high $2.8177 before falling to a low $2.7803.

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

For the day ahead

EOS would need to avoid a fall through the $2.7669 pivot level to support a run at the first major resistance level at $2.8797.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.8383.

Barring an extended crypto rally, the first major resistance level and resistance at $2.90 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $3.00 before any pullback. The second major resistance level sits at $2.9480.

A fall through the pivot level at $2.7699 would bring the first major support level at $2.7016 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.70 levels. The second major support level sits at $2.5918.

Looking at the Technical Indicators

First Major Support Level: $2.7016

First Major resistance Level: $2.8797

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 jumped by 12.84% on Wednesday. Reversing a 9.32% tumble from Tuesday, Stellar’s Lumen ended the day at $0.17214.

A mixed start to the day saw Stellar’s Lumen slide to a late morning intraday low $0.13950 before making a move.

Stellar’s Lumen fell through the first major support level at $0.14494 before surging to a late intraday high $0.17500.

The extended rally saw Stellar’s Lumen break through the first major resistance level at $0.16526 to end the day at $0.172 levels.

At the time of writing, Stellar’s Lumen was up by 0.69% $0.17332. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.17768 before falling to a low $0.17140.

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

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.16221 pivot level to support a run at the first major resistance level at $0.18493.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.18 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Stellar’s Lumen could test resistance at $0.19 before any pullback. The second major resistance level sits at $0.19771.

A fall through the pivot level at $0.16221 would bring the first major support level at $0.14943 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.14 levels. The 38.2% FIB sits at $0.1333, with the second major support level at $0.12671.

Looking at the Technical Indicators

First Major Support Level: $0.14943

First Major Resistance Level: $0.18493

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX rose by 3.34% on Wednesday. Partially reversing a 7.55% slide from Tuesday, Tron’s TRX ended the day at $0.02876.

It was a mixed start to the day. Tron’s TRX slid to a late morning intraday low $0.02681 before making a move.

Steering clear of the first major support level at $0.02667, Tron’s TRX rallied to a late intraday high $0.02905.

Falling short of the first major resistance level at $0.02996, Tron’s TRX eased back to end the day at sub-$0.019 levels.

The 23.6% FIB of $0.0291 pinned Tron’s TRX back late in the day.

At the time of writing, Tron’s TRX was up by 0.04% to $0.02878. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02896 before falling to a low $0.02832.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.02821 pivot level to support a run at the first major resistance level at $0.02960.

Support from the broader market would be needed, however, for Tron’s TRX to break back through the 23.6% FIB of $0.0291.

Barring an extended crypto rally, the 23.6% FIB and the first major resistance level would likely cap any upside.

In the event of another breakout, the second major resistance level at $0.03045 would likely come into play.

A fall through the $0.028210 pivot level would bring the first major support level at $0.02736 into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.026 levels. The second major support level sits at $0.02597.

Looking at the Technical Indicators

First Major Support Level: $0.02736

First Major Resistance Level: $0.02960

23.6% FIB Retracement Level: $0.0291

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