EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 9th, 2020

EOS

EOS slid by 5.14% on Tuesday. Following on from a 1.67% fall on Monday, EOS ended the day at $2.8006.

A relatively bullish start to the day saw EOS rise to a mid-morning intraday high $2.9684 before hitting reverse.

Falling short of the first major resistance level at $3.0079, EOS slid to a late intraday low $2.7354.

EOS fell through the first major support level at $2.8959 and the second major support level at $2.8409.

Finding late support, EOS moved back through to $2.80 levels to reduce the deficit on the day.

At the time of writing, EOS was down by 0.37% to $2.7902. A mixed start to the day saw EOS rise to an early morning high $2.8163 before falling to a low $2.7669.

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

For the day ahead

EOS would need to move through the $2.8348 pivot level to support a run at the first major resistance level at $2.9342.

Support from the broader market would be needed, however, for EOS to break back through to $2.90 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2.9684 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 $3.0678.

Failure to move through the pivot level at $2.8348 would bring the first major support level at $2.7012 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.70 levels. The second major support level sits at $2.6018.

Looking at the Technical Indicators

First Major Support Level: $2.7012

First Major resistance Level: $2.9342

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 tumbled by 9.32% on Tuesday. Following on from a 4.50% slide on Monday, Stellar’s Lumen ended the day at $0.15243.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.16859 before hitting reverse.

Falling short of the first major resistance level at $0.17497, Stellar’s Lumen slid to a late intraday low $0.14927.

The reversal saw Stellar’s Lumen fall through the first major support level at $0.16267 and the second major support level at $0.15724.

Finding support late in the day, Stellar’s Lumen moved back through to $0.1520 levels to limit the loss on the day.

At the time of writing, Stellar’s Lumen was down by 1.05% to $0.15083. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.15376 before falling to a low $0.15015.

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 $0.15676 pivot level to support a run at the first major resistance level at $0.16426.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.16 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 $0.17 before any pullback. The second major resistance level sits at $0.17608.

Failure to move through the pivot level at $0.15676 would bring the first major support level at $0.14494 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.14 levels. The second major support level sits at $0.13744, with the 38.2% FIB sitting at $0.1333.

Looking at the Technical Indicators

First Major Support Level: $0.14494

First Major Resistance Level: $0.16426

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 7.55% on Tuesday. Following on from a 1.71% decline on Monday, Tron’s TRX ended the day at $0.02802.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.03054 before hitting reverse.

Falling short of the first major resistance level at $0.03102, Tron’s TRX slid to a late intraday low $0.02725.

Tron’s TRX fell through the day’s major support levels and the 23.6% FIB of $0.0291 before a partial recovery to $0.028 levels.

The partial recovery saw Tron’s TRX move back through the third major support level at $0.02764.

At the time of writing, Tron’s TRX was down by 0.29% to $0.027944. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.028103 before falling to a low $0.027415.

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 $0.02860 pivot level to support a run at the first major resistance level at $0.02996.

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

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.03054 would likely cap any upside.

In the event of another breakout, resistance at $0.031 would likely come into play. The second major resistance level sits at $0.03189.

Failure to move through the $0.02860 pivot level would bring the first major support level at $0.02667 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 at $0.02531 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02667

First Major Resistance Level: $0.02996

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