EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – January 21st, 2021

EOS

EOS fell by 0.20% on Wednesday. Following on from a 1.02% decline on Tuesday, EOS ended the day at $2.7830.

A mixed start to the day saw EOS rise to an early morning intraday high $2.8350 before hitting reverse.

Falling short of the first major resistance level at $2.9461, EOS slid to a late afternoon intraday low $2.6319.

EOS fell through the first major support level at $2.6436 before revisiting $2.80 levels.

A bearish end to the day, however, saw EOS fall back to sub-$2.788 levels and into the red.

At the time of writing, EOS was down by 1.11% to $2.7522. A mixed start to the day saw EOS rise to an early morning high $2.7891 before falling to a low $2.7451.

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 $2.7500 pivot level to support a run at the first major resistance level at $2.8680.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.8350.

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 $2.9531.

Failure to avoid a fall back through the pivot level at $2.7500 would bring the first major support level at $2.6649 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.60 levels. The second major support level sits at $2.5469.

Looking at the Technical Indicators

First Major Support Level: $2.6649

First Major resistance Level: $2.8680

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 1.44% on Wednesday. Following on from a 2.20% decline on Tuesday, Stellar’s Lumen ended the day at $0.2938.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3019 before hitting reverse.

Falling short of the first major resistance level at $0.3141, Stellar’s Lumen slid to a late afternoon intraday low $0.2750.

The reversal saw Stellar’s Lumen fall through the first major support level at $0.2879 and the 38.2% FIB of $0.2823.

Finding support at the second major support level at $0.2776, Stellar’s Lumen revisited $0.295 levels before easing back.

The partial recovery saw Stellar’s Lumen break back through the 38.2% FIB and the first major support level to end the day at $0.293 levels.

At the time of writing, Stellar’s Lumen was down by 1.01% to $0.2908. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.2947 before falling to a low $0.2904.

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

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.2902 pivot to bring the first major resistance level at $0.3055 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.30 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.3019 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.3171.

Failure to avoid a fall through the $0.2902 pivot would bring the 38.2% FIB of $0.2823 and the first major support level at $0.2786 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.027 levels. The second major support level sits at $0.2633.

Looking at the Technical Indicators

First Major Support Level: $0.2786

First Major Resistance Level: $0.3055

23.6% FIB Retracement Level: $0.3187

38% FIB Retracement Level: $0.2823

62% FIB Retracement Level: $0.1850

Tron’s TRX

Tron’s TRX fell by 2.24% on Wednesday. Following on from a 3.17% slide on Tuesday, Tron’s TRX ended the day at $0.03017.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.03143 before hitting reverse.

Falling short of the first major resistance level at $0.03229, Tron’s TRX slid to a late afternoon intraday low $0.02872.

Tron’s TRX fell through the first major support level at $0.02989 and the second major support level at $0.02889.

More significantly, Tron’s TRX also fell through the 23.6% FIB of $0.0291 before revisiting $0.031 levels in the final hour.

A bearish end to the day, however, saw Tron’s TRX fall back to sub-$0.031 levels and into the red.

In spite of the late pullback, Tron’s TRX avoided a fall back through the first major support level and the 23.6% FIB.

At the time of writing, Tron’s TRX was down by 0.86% to $0.03044. A mixed start to the day saw rise to an early morning high $0.03099 before falling to a low $0.02990.

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

For the Day Ahead

Tron’s TRX need to avoid a back fall through the $0.0.03011 pivot to bring the first major resistance level at $0.03149 into play.

Support from the broader market would be needed, however, for Tron’s TRX to breakout from Wednesday’s high $0.03143.

Barring an extended crypto rally, the first major resistance level and resistance at $0.032 would likely cap any upside.

In the event of an extended rally Tron’s TRX could resistance at $0.033 before any pullback. The second major resistance level sits at $0.03282.

Failure to avoid a fall back through the $0.03011 pivot would bring the 23.6% FIB of $0.0291 and the first major support level at $0.2878 into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.028 levels. The second major support level at sits at $0.02740.

Looking at the Technical Indicators

First Major Support Level: $0.02878

First Major Resistance Level: $0.03149

23.6% FIB Retracement Level: $0.03211

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