EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – January 28th, 2021

EOS

EOS slid by 4.72% on Wednesday. Following on from a 0.60% decline on Tuesday, EOS ended the day at $2.5100.

A mixed start to the day saw EOS strike an early morning intraday high $2.6567 before hitting reverse.

Falling short of the first major resistance level at $2.7199, EOS slid to an early afternoon intraday low $2.4049.

The sell-off saw EOS fall through the first major support level at $2.5254 and the second major support level at $2.4178.

Steering clear of sub-$2.40 levels, EOS revisited $2.58 levels before falling back into the deep red.

At the time of writing, EOS was up by 2.19% to $2.5651. A mixed start to the day saw EOS fall to an early morning low $2.4189 before striking a high $2.6355.

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 $2.5239 pivot level to support a run at the first major resistance level at $2.6428.

Support from the broader market would be needed, however, for EOS to break back through to $2.60 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2.6567 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $2.70 before any pullback. The second major resistance level sits at $2.7757.

Failure to avoid a fall back through the pivot level at $2.5239 would bring the first major support level at $2.3910 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$2.30 levels. The second major support level sits at $2.2721.

Looking at the Technical Indicators

First Major Support Level: $2.3910

First Major resistance Level: $2.6428

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 9.05% on Wednesday. Reversing a 0.27% gain from Tuesday, Stellar’s Lumen ended the day at $0.2382.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.2624 before hitting reverse.

Falling short of the first major resistance level at $0.2685, Stellar’s Lumen fell to an early afternoon intraday low $0.2301.

The sell-off saw Stellar’s Lumen slide through the first major support level at $0.2520 and the second major support level at $0.2421.

Steering clear of sub-$0.23 levels, Stellar’s Lumen revisited $0.247 levels before falling back through the second major support level.

At the time of writing, Stellar’s Lumen was up by 3.45% to $0.2464. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2325 before rising to a high $0.2476.

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 back through the $0.2436 pivot to bring the first major resistance level at $0.2570 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.25 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.26 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.27 before any pullback. The second major resistance level sits at $0.2759.

Failure to avoid a fall back through the $0.2436 pivot would bring the first major support level at $0.2247 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear sub-$0.22 levels. The second major support level sits at $0.2113.

Looking at the Technical Indicators

First Major Support Level: $0.2247

First Major Resistance Level: $0.2570

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 4.39% on Wednesday. Following on from a 0.34% decline on Tuesday, Tron’s TRX ended the day at $0.02830.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.02965 before hitting reverse.

Falling short of the first major resistance level at $0.03055, Tron’s TRX slid to an early afternoon intraday low $0.02711.

The sell-off saw Tron’s TRX fall through the 23.6% FIB of $0.0291 and the first major support level at $0.02834.

Finding support at the second major support level at $0.02710, Tron’s TRX briefly broke back through the 23.6% FIB to $0.0293 levels.

A bearish end to the day, however, saw Tron’s TRX slide back through the 23.6% FIB to end the day at sub-$0.029 levels.

At the time of writing, Tron’s TRX was up by 2.91% to $0.02912. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02721 before rising to a high $0.02978.

Tron’s TRX broke through the 23.6% FIB of $0.0291 and the first major resistance level at $0.02960 early on.

For the Day Ahead

Tron’s TRX need to avoid a fall through the 23.6% FIB of $0.02910 and the $0.02835 pivot to bring the first major resistance level at $0.02960 back into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.02950 levels.

Barring an extended crypto rally, the first major resistance level and morning high $0.02978 would likely cap any upside.

In the event of an extended rally Tron’s TRX could resistance at $0.031 before any pullback. The second major resistance level sits at $0.03089.

Failure to avoid a fall back through the FIB of $0.02910 and through the $0.02835 pivot would bring the first major support level at $0.02706 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.026 levels. The second major support level sits at $0.02581.

Looking at the Technical Indicators

First Major Support Level: $0.02706

First Major Resistance Level: $0.02960

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