EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – January 7th, 2021

EOS

EOS jumped by 18.33% on Wednesday. Following on from a 2.57% gain on Tuesday, EOS ended the day at $3.4841.

A mixed start to the day saw EOS fall to an early morning intraday low $2.8242 before making a move.

Steering clear of the first major support level at $2.7171, EOS rallied to a late afternoon intraday high $3.5071.

EOS broke through the day’s major resistance levels before a pullback to $3.15 levels.

The pullback saw EOS fall back through the third major resistance level at $3.4767 and the second major resistance level at $3.1636.

Finding late support, however, EOS broke back through the second and third major resistance levels to wrap up the day at $3.48 levels.

At the time of writing, EOS was up by 1.32% to $3.4236. A mixed start to the day saw EOS fall to an early morning low $3.2589 before rising to a high $3.4894.

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 $3.2718 pivot level to support a run at the first major resistance level at $3.7194.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $3.5071.

Barring another extended crypto rally, the first major resistance level and resistance at $3.75 would likely cap any upside.

In the event of another extended rally, EOS could test resistance at $4.00 before any pullback. The second major resistance level sits at $3.9547.

Failure to avoid a fall back through the pivot level at $3.2718 would bring the first major support level at $3.0365 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.30 levels. The second major support level sits at $2.5889.

Looking at the Technical Indicators

First Major Support Level: $3.0365

First Major resistance Level: $3.7194

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 surged by 80.63% on Wednesday. Following on from a 17.79% rally on Tuesday, Stellar’s Lumen ended the day at $0.3492.

A bullish start to the day saw Stellar’s Lumen jump from an early morning intraday low $0.19250 to a mid-day intraday high $0.44000.

Stellar’s Lumen broke through the day’s major resistance levels to affirm a bullish trend formation from March’s swing lo $0.026139.

In the 2^nd half of the day, Stellar’s Lumen slid back to $0.2650 levels.

The reversal saw Stellar’s Lumen fall back through the third major resistance level at $0.30447 before a bounce back to $0.35 levels.

Falling short of $0.40 levels, however, Stellar’s Lumen eased back to end the day at $0.34 levels.

At the time of writing, Stellar’s Lumen was up by 7.28% to $0.3746. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3248 before striking a high $0.4160.

While Stellar’s Lumen left the major support and resistance levels untested early on, Stellar’s Lumen fell through the 23.6% FIB of $0.3426.

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the 23.6% FIB of $0.3426 and the $0.3272 pivot level to bring the first major resistance level at $0.4620 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s high $0.4400.

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

In the event of another extended rally, Stellar’s Lumen could test resistance at $0.55 before any pullback. The second major resistance level sits at $0.5747.

Failure to avoid a fall through the 23.6% FIB of $0.3426 and the $0.3272 pivot level would bring the first major support level at $0.2145 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.30 levels, however. The second major support level sits at $0.07973.

Looking at the Technical Indicators

First Major Support Level: $0.21447

First Major Resistance Level: $0.46197

23.6% FIB Retracement Level: $0.3426

38% FIB Retracement Level: $0.2823

62% FIB Retracement Level: $0.1850

Tron’s TRX

Tron’s TRX rose by 4.32% on Wednesday. Partially reversing a 6.95% slide from Tuesday, Tron’s TRX ended the day at $0.03022.

It was a mixed start to the day. Tron’s TRX fell to an early morning intraday low $0.02732 before making a move.

Steering clear of the first major support level at $0.2654, Tron’s TRX rallied to a late intraday high $0.03149.

Coming up short of the first major resistance level at $0.03160, Tron’s TRX eased back to end the day at $0.030 levels.

The late rally saw Tron’s TRX break through and hold above the 23.6% FIB of $0.0291.

At the time of writing, Tron’s TRX was up by 1.74% to $0.03074. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02956 before rising to a high $0.03142.

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

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02968 pivot to bring the first major resistance level at $0.03203 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.03149.

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 $0.034 before any pullback. The second major resistance level sits at $0.03385.

Failure to avoid a fall back through the $0.02968 pivot and the 23.6% FIB would bring the first major support level at $0.02786 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 $0.02551.

Looking at the Technical Indicators

First Major Support Level: $0.02786

First Major Resistance Level: $0.03203

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