EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 8th, 2020

EOS

EOS fell by 1.67% on Monday. Following on from a 0.28% decline on Sunday, EOS ended the day at $2.9508.

A bullish start to the day saw EOS rise to a late afternoon intraday high $3.0100 before hitting reverse.

Falling short of the first major resistance level at $3.0587, however, EOS slid to a late intraday low $2.8980.

EOS fell through the first major support level at $2.9228 before a partial recovery to $2.95 levels.

At the time of writing, EOS was up by 0.19% to $2.9564. A mixed start to the day saw EOS fall to an early morning low $2.9368 before rising to a high $2.9650.

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 $2.9529 pivot level to support a run at the first major resistance level at $3.0079

Support from the broader market would be needed, however, for EOS to break back through to $3.00 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $3.0100 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $3.10 before any pullback. The second major resistance level sits at $3.0649.

A fall back through the pivot level at $2.9529 would bring the first major support level at $2.8959 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.80 levels. The second major support level at $2.8409 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.8959

First Major resistance Level: $3.0079

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 4.50% on Monday. Reversing a 2.28% gain from Sunday, Stellar’s Lumen ended the day at $0.16810.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.17642 before hitting reverse.

Falling short of the first major resistance level at $0.18182, Stellar’s Lumen slid to a late intraday low $0.16411.

The reversal saw Stellar’s Lumen fall through the first major support level at $0.16860.

Finding support late in the day, Stellar’s Lumen briefly revisited $0.16880 levels before easing back.

At the time of writing, Stellar’s Lumen was down by 0.36% to $0.16750. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.16839 before falling to a low $0.16690.

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 $0.16954 pivot level to support a run at the first major resistance level at $0.17497.

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 $0.18185.

Failure to move through the pivot level at $0.16954 would bring the first major support level at $0.16267 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.16 levels. The second major support level sits at $0.15724.

Looking at the Technical Indicators

First Major Support Level: $0.16267

First Major Resistance Level: $0.17497

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 1.71% Monday. Reversing a 1.13% gain from Sunday, Tron’s TRX ended the day at $0.03029.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.03111 before hitting reverse.

Falling short of the first major resistance level at $0.03138, Tron’s TRX slid to a late intraday low $0.02974.

Tron’s TRX fell through the first major support level at $0.03011 before finding support.

Finding support at the 23.6% FIB of $0.029, Tron’s TRX recovered to $0.03 levels to reduce the deficit for the day.

At the time of writing, Tron’s TRX was up by 0.26% to $0.03037. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.03054 before falling to a low $0.02987.

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 $0.03038 pivot level to support a run at the first major resistance level at $0.03102.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.031 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.03111 would likely cap any upside.

In the event of another breakout, resistance at $0.03150 would likely come into play. The second major resistance level sits at $0.03175.

Failure to move back through the $0.03038 pivot level would bring the first major support level at $0.02965 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.029 levels. The 23.6% FIB of 0.0291 and the second major support level at $0.02901 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02965

First Major Resistance Level: $0.03102

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