EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 31st, 2020

EOS

EOS fell by 1.05% on Wednesday. Following on from a 4.42% slide on Tuesday, EOS ended the day at $2.6109.

A mixed start to the day saw EOS rise to an early morning intraday high $2.6799 before hitting reverse.

Falling short of the first major resistance level at $2.7956, EOS slid to a late morning intraday low $2.5216.

Steering clear of the first major support level at $2.4811, EOS revisited $2.63 levels before easing back.

At the time of writing, EOS was up by 0.68% to $2.6287. A mixed start to the day saw EOS fall to a low $2.5943 before rising to an early morning high $2.6546.

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 $2.6041 pivot level to support a run at the first major resistance level at $2.6867.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.6799.

Barring an extended crypto rally, the first major resistance level and resistance at $2.70 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $2.7624 before any pullback.

Failure to avoid a fall back through the pivot level at $2.6041 would bring the first major support level at $2.5284 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.50 levels, however. The second major support level sits at $2.4458.

Looking at the Technical Indicators

First Major Support Level: $2.5284

First Major resistance Level: $2.6867

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 slid by 4.61% on Wednesday. Following on from a 4.20% decline on Tuesday, Stellar’s Lumen ended the day at $0.13192.

A mixed morning saw Stellar’s Lumen rise to an early morning high $0.13901 before hitting reverse. The early move saw Stellar’s Lumen move through the 38.2% FIB of $0.1333.

Falling short of the first major resistance level at $0.14897, Stellar’s Lumen slid to a late morning intraday low $0.12855.

Steering clear of the first major support level at $0.12744, Stellar’s Lumen struck a late afternoon intraday high $0.13932 before hitting reverse.

While falling short of the first major resistance level at $0.14897, Stellar’s Lumen broke back through the 38.2% FIB of $0.1333.

A bearish end to the day, however, saw Stellar’s Lumen slide back through the 38.2% FIB to end the day at $0.131 levels.

At the time of writing, Stellar’s Lumen was down by 2.74% to $0.12830. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.13194 before falling to a low $0.12821.

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 $0.13326 pivot level and 38.2% FIB to support a run at the first major resistance level at $0.13798.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.135 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.13932 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.145 before any pullback. The second major resistance level sits at $0.14403.

Failure to move through the pivot level at $0.13326 and the 38.2% FIB of $0.1333 would bring the first major support level at $0.12721 back into play

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.12 levels. The second major support level at $0.12249 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.12721

First Major Resistance Level: $0.13798

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 2.84% on Wednesday. Following on from a 6.20% slide on Tuesday, Tron’s TRX ended the day at $0.02686.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.027991 before hitting reverse.

Falling short of the first major resistance level at $0.03001, Tron’s TRX slid to a late morning intraday low $0.02582.

Finding support at the first major support level at $0.02576, Tron’s TRX briefly revisited $0.0274 levels before easing back.

At the time of writing, Tron’s TRX was down by 0.01% to $0.026857. A choppy start to the day saw Tron’s TRX rise to an early morning high $0.027503 before falling to a low $0.026490.

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

For the Day Ahead

Tron’s TRX would need to move back through the $0.02689 pivot to support a run at the first major resistance level at $0.02796.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0279 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.027991 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test the second major resistance level at $0.02906and the 23.6% FIB of $0.0291.

Failure to move back through the $0.02689 pivot would bring the first major support level at $0.02579 into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level sits at $0.02472.

Looking at the Technical Indicators

First Major Support Level: $0.02579

First Major Resistance Level: $0.02796

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