EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 17th, 2020

EOS

EOS rallied by 8.52% on Wednesday. Following on from a 0.56% gain on Tuesday, EOS ended the day at $3.1066.

A bearish start to the day saw EOS fall to an early morning intraday low $2.8179 before making a move

Steering clear of the first major support level at $2.8085, EOS surged to a late intraday high $3.1188.

EOS broke through major resistance levels to test resistance at $3.12 before easing back

In spite of easing back, EOS avoided a fall back through the third major resistance level at $3.0616.

At the time of writing, EOS was up by 0.27% to $3.1150. A mixed start to the day saw EOS fall to an early morning low $3.0895 before rising to a high $3.1429.

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

For the day ahead

EOS would need to avoid a fall through the $3.0144 pivot level to support a run at the first major resistance level at $3.2110.

Support from the broader market would be needed, however, for EOS to break out from $3.15 levels.

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

In the event of another extended rally, the second major resistance level at $3.3153 could come into play.

Failure to avoid a fall through the pivot level at $3.0144 would bring the first major support level at $2.9101 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.90 levels. The second major support level sits at $2.7135.

Looking at the Technical Indicators

First Major Support Level: $2.9101

First Major resistance Level: $3.2110

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 surged by 16.42% on Wednesday. Reversing a 2.37% slide from Tuesday, Stellar’s Lumen ended the day at $0.19350.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.15900 before making a move.

Stellar’s Lumen fell through the first major support level at $0.16138 before surging to a late intraday high $0.19480.

The rally saw Stellar’s Lumen break through the major resistance levels to wrap up the day at $0.19 levels.

At the time of writing, Stellar’s Lumen was down by 1.22% to $0.19115. A mixed start to the day saw Stellar’s Lumen jump to an early morning high $0.2010 before falling to a low $0.18801.

Stellar’s Lumen left the major support and resistance levels untested early on. The early rally did see Stellar’s Lumen briefly break through the 62% FIB of $0.1989, however.

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.18243 pivot level to support another run at the first major resistance level at $0.20587.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through the 62% FIB of $0.1989.

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 $0.21 before any pullback. The second major resistance level sits at $0.21823.

Failure to avoid a fall through the pivot level at $0.18243 would bring the first major support level at $0.17007 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.17 levels. The second major support level sits at $0.14663.

Looking at the Technical Indicators

First Major Support Level: $0.17007

First Major Resistance Level: $0.20587

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 rallied by 7.03% on Wednesday. Following on from a 0.17% gain on Tuesday, Tron’s TRX ended the day at $0.031408.

It was a mixed start to the day. Tron’s TRX fell to an early morning intraday low $0.028651 before making a move.

The pullback saw Tron’s TRX fall through the 23.6% FIB of $0.0291 and the first major support level at $0.02871.

Finding support in the late morning, however, Tron’s TRX surged to a late intraday high $0.03702.

Tron’s TRX broke through the first major resistance level at $0.02985 and the second major resistance level at $0.03035.

More significantly, Tron’s TRX also broke back through the 23.6% FIB of $0.0291 to wrap up the day at $0.031 levels.

At the time of writing, Tron’s TRX was down by 0.66% to $0.03120. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.032130 before falling to a low $0.031016.

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 $0.03059 pivot to support a run at the first major resistance level at $0.03252.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.032130.

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

In the event of another breakout, Tron’s TRX could test resistance at $0.033 before any pullback. The second major resistance level sits at $0.03364.

Failure to avoid a fall through the $0.03059 pivot would bring the first major support level at $0.02947 into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of the second major support level at $0.02754. The 23.6% FIB of $0.0291 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02947

First Major Resistance Level: $0.03252

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