EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – January 6th, 2021

EOS

EOS rose by 2.57% on Tuesday. Following on from a 0.56% gain on Monday, EOS ended the day at $2.8967.

A mixed start to the day saw EOS fall from an early morning high $2.8983 to a mid-morning intraday low $2.6709.

Steering clear of the first major support level at $2.4753, EOS rallied to a late afternoon intraday high $2.9840.

Falling short of the first major resistance level at $3.1536, however, EOS eased back to end the day at sub-$2.90 levels.

At the time of writing, EOS was down by 1.08% to $2.8654. A mixed start to the day saw EOS rise to an early morning high $2.9308 before falling to a low $2.8046.

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 $2.8505 pivot level to support a run at the first major resistance level at $3.0302.

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

Barring another 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 $3.10 before any pullback. The second major resistance level sits at $3.1636.

Failure to avoid a fall back through the pivot level at $2.8505 would bring the first major support level at $2.7171 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.60 levels, however. The second major support level sits at $2.5374.

Looking at the Technical Indicators

First Major Support Level: $2.7171

First Major resistance Level: $3.0302

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 rallied by 17.79% on Tuesday. Following on from a 20.07% surge on Monday, Stellar’s Lumen ended the day at $0.19342.

A mixed morning saw Stellar’s Lumen fall to an early morning intraday low $0.15000 before making a move.

Steering clear of the first major support level at $0.13920, Stellar’s Lumen rallied to a late afternoon intraday high $0.21000.

Stellar’s Lumen broke through the first major resistance level at $0.17852 and the second major resistance level at $0.19284.

More significantly, Stellar’s Lumen also broke through the 62% FIB of $0.1989.

A late pullback, however, saw Stellar’s Lumen fall back through the 62% FIB and the second major resistance level to sub-$0.19 levels.

Finding late support, Stellar’s Lumen broke back through the second major resistance level to wrap up the day at $0.1934 levels.

At the time of writing, Stellar’s Lumen was up by 11.56% to $0.21579. A bullish start to the day saw Stellar’s Lumen rally from an early morning low $0.19250 to a high $0.22000.

Stellar’s Lumen broke through the 62% FIB and the first major resistance level at $0.21895 early on.

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.18447 pivot level to bring the first major resistance level at $0.21895 back into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to avoid a fall back to sub-$0.21 levels.

Barring an extended crypto rally, the first major resistance level and morning high $0.22000 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.23 before any pullback. The second major resistance level sits at $0.24447.

Failure to avoid a fall through the $0.18447 pivot level would bring the first major support level at $0.15895 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.19 levels, however. The 62% FIB of $0.1989 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.15895

First Major Resistance Level: $0.21895

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 6.95% on Tuesday. Reversing a 5.49% rally from Monday, Tron’s TRX ended the day at $0.02893.

It was also a mixed start to the day. Tron’s TRX rallied to an early morning intraday high $0.031869 before hitting reverse.

Falling well short of the first major resistance level at $0.03409, Tron’s TRX slid to an early morning intraday low $0.026809.

The reversal saw Tron’s TRX fall through the 23.6% FIB of $0.0291 to come within range of the first major support level at $0.02662.

Through the rest of the day, Tron’s TRX revisited $0.0293 levels before ending the day at $0.028 levels. The 23.6% FIB of $0.0291 pinned Tron’s TRX back on the day.

At the time of writing, Tron’s TRX was down by 2.51% to $0.028208. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.029079 before falling to a low $0.027346.

While Tron’s TRX left the major support and resistance levels untested early on, the 23.6% FIB pinned Tron’s TRX back.

For the Day Ahead

Tron’s TRX would need to move through the $23.6% FIB and the 0.02920 pivot to bring the first major resistance level at $0.03160 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.030 levels.

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

In the event of another extended rally Tron’s TRX could resistance at $0.033 before any pullback. The second major resistance level sits at $0.03426.

Failure to move through the 23.6% FIB and the $0.02920 pivot would bring the first major resistance level at $0.02654 back 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 $0.02414.

Looking at the Technical Indicators

First Major Support Level: $0.02654

First Major Resistance Level: $0.03160

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