Advertisement
Advertisement

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 10th, 2020

By:
Bob Mason
Published: Nov 10, 2020, 03:17 UTC

It's a relatively bullish start to the day for the majors. A move back through the early morning highs would support a run at the resistance levels.

Depositphotos_213402194_s-2019

EOS

EOS fell by 1.47% on Monday. Partially reversing a 1.66% gain from Sunday, EOS ended the day at $2.4991.

It was a mixed start to the day. EOS fell to a late morning low $2.4872 before making a move.

Finding support at the first major support level at $2.4878, EOS rallied to a late morning intraday high $2.5859.

EOS broke through the first major resistance level at $2.5829 before sliding to a late afternoon intraday low $2.4318.

The sell-off saw EOS fall through the first major support level at $2.4878 and the second major support level at $2.4368.

Finding late support, EOS broke back through the major support levels to revisit $2.52 levels before easing back.

At the time of writing, EOS was up by 0.11% to $2.5018. A mixed start to the day saw EOS fall to an early morning low $2.4751 before rising to a high $2.5156.

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

EOS/USD 10/11/20 Hourly Chart

For the day ahead

EOS would need to move back through the $2.5056 pivot level to support a run at the first major resistance level at $2.5794.

Support from the broader market would be needed, however, for EOS to break back through to $2.57 levels.

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

Failure to move through the pivot level at $2.5056 would bring the first major support level at $2.4253 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.40 levels. The second major support level sits at $2.3515.

Looking at the Technical Indicators

First Major Support Level: $2.4253

First Major resistance Level: $2.5794

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 2.11% on Monday. Reversing a 2.32% gain from Sunday, Stellar’s Lumen ended the day at $0.079779.

A mixed start to the day saw Stellar’s Lumen fall to a late morning low $0.079387 before making a move.

Steering clear of the first major support level at $0.07920, Stellar’s Lumen rallied to a late morning intraday high $0.082223.

Falling well short of the first major resistance level at $0.08333, Stellar’s Lumen slid to a late afternoon intraday low $0.078030.

Stellar’s Lumen fell through the first major support level at $0.07920 before revisiting $0.080 levels.

A bearish end to the day, however, left Stellar’s Lumen at sub-$0.080 levels at the day end.

At the time of writing, Stellar’s Lumen was up by 0.84% to $0.080452. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.079172 before rising to a high $0.081042.

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

XLM/USD 10/11/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.08001 pivot to support a run at the first major resistance level at $0.08199.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.081 levels.

Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall back through the $0.08001 pivot level would bring the first major support level at $0.07780 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.07582.

Looking at the Technical Indicators

First Major Support Level: $0.07780

First Major Resistance Level: $0.08199

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 fell by 2.19% on Monday. Partially reversing a 2.56% gain from Sunday, Tron’s TRX ended the day at $0.024838.

Tracking the broader market, Tron’s TRX fell to a late morning low $0.024751 before making a move.

Steering clear of the first major support level at $0.02470, Tron’s TRX struck a late morning intraday high $0.026001.

Coming up against the first major resistance level at $0.02599, however, Tron’s TRX slid to a late afternoon intraday low $0.024466.

Tron’s TRX fell through the first major support level at $0.02470 before briefly revisiting $0.0253 levels.

A bearish end to the day, however, saw Tron’s TRX fall back to end the day at sub-$0.025 levels.

At the time of writing, Tron’s TRX was up by 0.42% to $0.024942. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.024447 before rising to a high $0.025163.

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

TRX/USD 10/11/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move back through the $0.02510 pivot level to support a run at the first major resistance level at $0.02574.

Support from the broader market would be needed, however, for Tron’s TRX to break back out from the morning high $0.025163.

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

Failure to move back through the $0.02510 pivot level would bring the first major support level at $0.02420 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.024 levels. The second major support level sits at $0.02357.

Looking at the Technical Indicators

First Major Support Level: $0.02420

First Major Resistance Level: $0.02574

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

Did you find this article useful?

Advertisement