EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 23rd, 2020

EOS

EOS fell by 1.00% on Tuesday. Following on from a 6.55% slide on Monday, EOS ended the day at $2.9031.

A bearish start to the day saw EOS fall to a late morning intraday low $2.7689 before making a move.

The sell-off saw EOS fall through the first major support level at $2.7749 before rising to a mid-afternoon intraday high $2.9603.

Falling well short of the first major resistance level at $3.1859, EOS slid back to $2.78 levels.

Steering clear of the first major support level at $2.7749, EOS partially recovered to end the day at $2.90 levels.

At the time of writing, EOS was down by 0.40% to $2.8915. A mixed start to the day saw EOS rise to an early morning high $2.9131 before falling to a low $2.8753.

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

For the day ahead

EOS would need to avoid a fall back through the $2.8774 pivot level to support a run at the first major resistance level at $2.9860.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.9603.

Barring an extended crypto rally, the first major resistance level 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 $3.0688.

Failure to avoid a fall back through the pivot level at $2.8774 would bring the first major support level at $2.7946 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.70 levels. The second major support level sits at $2.6860.

Looking at the Technical Indicators

First Major Support Level: $2.7946

First Major resistance Level: $2.9860

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 1.92% on Tuesday. Following on from a 6.46% slide on Monday, Stellar’s Lumen ended the day at $0.16207.

It was a mixed start to the day. Stellar’s Lumen fell to an early morning intraday low $0.15322 before making a move.

The reversal saw Stellar’s Lumen fall through the first major support level at $0.15663.

Finding late morning support, however, Stellar’s Lumen rallied to a mid-afternoon intraday high $0.17036.

Falling short of the first major resistance level at $0.17705, Stellar’s Lumen fell back to sub-$0.16 levels late in the day. Avoiding the first major support level, Stellar’s Lumen moved back through to $0.162 levels to limit the loss on the day.

At the time of writing, Stellar’s Lumen was down by 1.56% to $0.15954. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.16221 before falling to a low $0.15941.

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

For the day ahead

Stellar’s Lumen would need to move back through the $0.16188 pivot level to support a run at the first major resistance level at $0.17054.

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 and Tuesday’s high $0.17036 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.17902.

Failure to move back through the pivot level at $0.16188 would bring the first major support level at $0.15341 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.15 levels. The second major support level sits at $0.14475.

Looking at the Technical Indicators

First Major Support Level: $0.15341

First Major Resistance Level: $0.17054

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 fell by 0.14% on Tuesday. Following on from a 6.06% slide on Monday, Tron’s TRX ended the day at $0.029079.

Tracking the broader market, Tron’s TRX fell to a late morning intraday low $0.027532 before making a move.

The sell-off saw Tron’s TRX fall through the 23.6% FIB of $0.0291 and the first major support level at $0.02776.

Finding late morning support, Tron’s TRX rallied to a mid-afternoon intraday high $0.02977.

While breaking back through the 23.6% FIB, Tron’s TRX came up short of the $0.02999 pivot and the first major resistance level at $0.03155.

A bearish end to the day saw Tron’s TRX fall back through the 23.6% FIB to end the day at sub-$0.0291 levels.

At the time of writing, Tron’s TRX was down by 0.88% to $0.02882. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.029146 before falling to a low $0.028518.

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

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02879 pivot to support a run at the first major resistance level at $0.03006.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 23.6% FIB of $0.0291 to $0.030 levels.

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

In the event of an extended rally, Tron’s TRX could test resistance at $0.03050 before any pullback. The second major resistance level sits at $0.03103.

Failure to avoid a fall back through the $0.02879 pivot would bring the first major support level at $0.02782 into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.027 levels. The second major support level sits at $0.02656.

Looking at the Technical Indicators

First Major Support Level: $0.02782

First Major Resistance Level: $0.03006

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