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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 17th, 2020

By:
Bob Mason
Published: Nov 17, 2020, 01:31 UTC

It's a bullish start to the day for the majors. Steering clear of the pivot levels should support a run at the major resistance levels.

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

EOS

EOS rallied by 3.35% on Monday. Reversing a 1.54% loss from Sunday, EOS ended the day at $2.5840.

A mixed start to the day saw EOS fall to an early morning intraday low $2.4829 before making a move.

Steering clear of the first major support level at $2.4551, EOS rose to an early afternoon intraday high $2.6138.

EOS broke through the first major resistance level at $2.5530 and the second major resistance level at $2.6059.

A late pullback to $2.55 levels saw EOS fall through the second major resistance level to wrap up the day at $2.58 levels.

The first major resistance level at $2.5530 limited the downside late in the day.

At the time of writing, EOS was up by 1.09% to $2.6121. A mixed start to the day saw EOS fall to an early morning low $2.5782 before rising to a high $2.6325.

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

EOSUSD 171120 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.5602 pivot level to support a run at the first major resistance level at $2.6376.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6325.

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

Failure to avoid a fall through the pivot level at $2.5602 would bring the first major support level at $2.5067 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.50 levels. The second major support level sits at $2.4293.

Looking at the Technical Indicators

First Major Support Level: $2.5067

First Major resistance Level: $2.6376

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 rose by 2.99% on Monday. Reversing a 1.33% fall from Sunday, Stellar’s Lumen ended the day at $0.082556.

It was a mixed start to the day. Stellar’s Lumen fell to an early morning intraday low $0.079331 before making a move.

Steering clear of the first major support level at $0.07860, Stellar’s Lumen rallied to a mid-afternoon intraday high $0.082979.

Stellar’s Lumen broke through the first major resistance level at $0.08189 before a fall back to sub-$0.08150 levels.

Finding late support, however, Stellar’s Lumen broke back through the first major resistance level to close out at $0.0825 levels.

At the time of writing, Stellar’s Lumen was up by 1.57% to $0.083812. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.082359 to a high $0.084299.

Stellar’s Lumen broke through the first major resistance level at $0.08391 early on before easing back.

XLMUSD 171120 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.08162 pivot to support another run at the second major resistance level at $0.08527.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through the first major resistance level.

Barring another broad-based crypto rally, resistance at $0.08450 would likely cap any upside. The second major resistance level sits at $0.08527.

Failure to avoid a fall through the $0.08162 pivot level would bring the first major support level at $0.08027 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.080 levels. The second major support level sits at $0.07797.

Looking at the Technical Indicators

First Major Support Level: $0.08027

First Major Resistance Level: $0.08391

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 rose by 1.38% on Monday. Following on from a 1.18% gain on Sunday, Tron’s TRX ended the day at $0.025589.

It was another relatively choppy day. Tron’s TRX fell to an early morning low $0.024945 before making a move.

Steering clear of the first major support level at $0.02487, Tron’s TRX rose to a late afternoon intraday high $0.025998.

Coming up against the first major resistance level at $0.02592, Tron’s TRX fell back to $0.0250 levels.

Finding late support, however, Tron’s TRX moved back through to $0.0255 levels to end the day in the green.

At the time of writing, Tron’s TRX was up by 0.84% to $0.025803. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02540 before rising to a high $0.025937

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

TRXUSD 171120 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.02551 pivot level to support another run at the first major resistance level at $0.02608.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.025937.

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

Failure to avoid a fall through the $0.02551 pivot level would bring the first major support level at $0.02502 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level sits at $0.02446.

Looking at the Technical Indicators

First Major Support Level: $0.02502

First Major Resistance Level: $0.02608

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.

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