EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 16th, 2020

EOS

EOS rose by 0.56% on Tuesday. Reversing a 0.11% decline from Monday, EOS ended the day at $2.8628.

A relatively choppy morning saw EOS fall to a mid-morning intraday low $2.8023 before making a move

Finding support at the first major support level at $2.8044, EOS rose to a late afternoon intraday high $2.9048.

EOS broke through the first major resistance level at $2.8757 before falling back to end the day at $2.86 levels.

At the time of writing, EOS was down by 0.53% to $2.8476. A mixed start to the day saw EOS rise to an early morning high $2.8684 before falling to a low $2.8261.

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

For the day ahead

EOS would need to move back through the $2.8566 pivot level to support a run at the first major resistance level at $2.9110.

Support from the broader market would be needed, however, for EOS to break back through to $2.90 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2.9048 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $2.95 before any pullback. The second major resistance level sits at $2.9591.

Failure to move back through the pivot level at $2.8566 would bring the first major support level at $2.8085 into play.

Barring an extended sell-off, however, EOS should steer of the second major support level at $2.7541.

Looking at the Technical Indicators

First Major Support Level: $2.8085

First Major resistance Level: $2.9110

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 fell by 2.37% on Tuesday. Following a 3.27% slide from Monday, Stellar’s Lumen ended the day at $0.16608.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.17697 before hitting reverse.

Coming up against the first major resistance level at $0.17701, Stellar’s Lumen slid to a late intraday low $0.16447.

Stellar’s Lumen fell through the first major support level at $0.16505 before a partial recovery to $0.166 levels.

At the time of writing, Stellar’s Lumen was down by 2.04% to $0.16269. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.16631 before sliding to a low $0.16000.

Stellar’s Lumen fell through the first major support level at $0.16138 early on.

For the day ahead

Stellar’s Lumen would need to move through the $0.16917 pivot level to support a run at the first major resistance level at $0.17387.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.17 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 $0.18 before any pullback. The second major resistance level sits at $0.18167.

Failure to move through the pivot level at $0.16917 would bring the first major support level at $0.16138 back into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.15667.

Looking at the Technical Indicators

First Major Support Level: $0.16138

First Major Resistance Level: $0.17387

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 0.17% on Tuesday. Following a 0.64% gain from Monday, Tron’s TRX ended the day at $0.029347.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.029547 before hitting reverse.

While falling short of the first major resistance level at $0.02965, Tron’s TRX broke through the 23.6% FIB of $0.0291.

The reversal, however, saw Tron’s TRX fall to a mid-morning intraday low $0.028575 before making a move.

Tron’s TRX fell through the first major support level at $0.02869 before rallying to a late intraday high $0.029716.

The rally saw Tron’s TRX break back through the 23.6% FIB before falling back into the red. Late in the day, Tron’s TRX moved back through the 23.6% FIB to end the day at $0.0293 levels. The first major resistance level at $0.02965 had pinned Tron’s TRX back late on.

At the time of writing, Tron’s TRX was down by 1.88% to $0.028794. A bearish start to the day saw Tron’s TRX slide from an early morning high $0.029385 to a low $0.028724.

While leaving the major support and resistance levels untested early on, Tron’s TRX fell back through the 23.6% FIB of $0.0291.

For the Day Ahead

Tron’s TRX would need to move back through the 23.6% FIB and the $0.02921 pivot to support another run at the first major resistance level at $0.02985.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.02950 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.029716 would likely cap any upside.

In the event of a breakout, Tron’s TRX could test resistance at $0.030 before any pullback. The second major resistance level sits at $0.03035.

Failure to move back through the 23.6% FIB and the $0.02921 pivot would bring the first major support level at $0.02871 back into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.028 levels. The second major support level at $0.02807 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.02871

First Major Resistance Level: $0.02985

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