EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 24th, 2020

EOS

EOS tumbled by 20.04% on Wednesday. Following on from a 1.00% decline on Tuesday, EOS ended the day at $2.3178.

A mixed start to the day saw EOS rise to an early morning intraday high $2.9181 before hitting reverse.

Falling short of the first major resistance level at $2.9860, EOS slid to a late intraday low $1.9367.

The sell-off saw EOS fall through the day’s major support levels before finding support.

In spite of a late move back through to $2.31 levels, however, EOS failed to break back through the third major support level at $2.4946.

At the time of writing, EOS was up by 0.85% to $2.3376. A mixed start to the day saw EOS fall to an early morning low $2.2507 before rising to a high $2.3500.

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

For the day ahead

EOS would need to move through the $2.3909 pivot level to support a run at the first major resistance level at $2.8450.

Support from the broader market would be needed, however, for EOS to break out from $2.50 levels.

Barring an extended crypto rally, resistance at $2.50 would likely leave EOS short of the first major resistance level.

In the event of an extended rally, EOS could test the first major resistance level at $2.8450 before any pullback. The second major resistance level sits at $3.3723.

Failure to move through the pivot level at $2.3909 would bring the first major support level at $1.8636 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.00 levels, however. The second major support level sits at $1.4095.

Looking at the Technical Indicators

First Major Support Level: $1.8636

First Major resistance Level: $2.8450

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 slumped by 21.89% on Wednesday. Following on from a 1.92% decline on Tuesday, Stellar’s Lumen ended the day at $0.1267.

A bearish morning saw Stellar’s Lumen slide from an early morning intraday high $0.16221 to a late intraday low $0.11002.

The reversal saw Stellar’s Lumen fall through the day’s major support levels and the 38.2% FIB of $0.1333.

Finding late support, however, Stellar’s Lumen wrapped up the day at $0.12 levels. The third major support level at $0.12761 pinned Stellar’s Lumen back.

At the time of writing, Stellar’s Lumen was up by 1.79% to $0.12897. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.12307 before rising to a high $0.13113.

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

For the day ahead

Stellar’s Lumen would need to move through the $0.13297 pivot level and the 38.2% FIB of $0.1333 to support a run at the first major resistance level at $0.15593.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.15 levels.

Barring an extended crypto rally, resistance at $0.14 would likely leave Stellar’s Lumen short of the first major resistance level.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.16 before any pullback. The second major resistance level sits at $0.18516.

Failure to move through the pivot level at $0.13297 and the 38.2% FIB would bring the first major support level at $0.10374 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.10 levels. The second major support level sits at $0.08079.

Looking at the Technical Indicators

First Major Support Level: $0.10374

First Major Resistance Level: $0.15593

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 slid by 13.69% on Wednesday. Following on from a 0.14% fall on Tuesday, Tron’s TRX ended the day at $0.024875.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.02933 before hitting reverse.

Falling short of the first major resistance level at $0.03006, Tron’s TRX slid to a late intraday low $0.023530.

The sell-off saw Tron’s TRX fall through the day’s major support levels and the 23.6% FIB of $0.0291.

A partial recovery to $0.0248 levels saw Tron’s TRX move back through the third major support level at $0.02432.

At the time of writing, Tron’s TRX was down by 2.20% to $0.024323. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.024852 before falling to a low $0.023931.

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

For the Day Ahead

Tron’s TRX would need to move through the $0.02591 pivot to support a run at the first major resistance level at $0.02829.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.028 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 the 23.6% FIB of $0.0291 before any pullback. The second major resistance level sits at $0.03171.

Failure to move through the $0.02591 pivot would bring the first major support level at $0.02249 into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of the second major support level at $0.02011.

Looking at the Technical Indicators

First Major Support Level: $0.02249

First Major Resistance Level: $0.02829

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