EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 2nd, 2020
EOS
EOS slipped by 0.49% on Sunday. Partially reversing a 0.94% gain from Saturday, EOS ended the week down by 7.11% to $2.5185.
It was a mixed start to the day. EOS rose to an early morning intraday high $2.5590 before hitting reverse.
Falling sort of the first major resistance level at $2.6358, EOS fell to a late morning intraday low $2.4478.
Steering clear of the first major support level at $2.4258, EOS revisited $2.53 levels before easing back.
At the time of writing, EOS was down by 0.22% to $2.5130. A mixed start to the day saw EOS rise to an early morning high $2.5533 before falling to a low $2.5026.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $2.5084 pivot level to support a run at the first major resistance level at $2.5691.
Support from the broader market would be needed, however, for EOS to break back through to $2.56 levels.
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 $2.5084 would bring the first major support level at $2.4579 into play.
Barring another extended sell-off, however, EOS should steer of sub-$2.45 levels and the second major support level at $2.3972.
Looking at the Technical Indicators
First Major Support Level: $2.4579
First Major resistance Level: $2.5691
23.6% FIB Retracement Level: $
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen
Stellar’s Lumen rose by 1.19% on Sunday. Following on from a 1.35% gain on Saturday, Stellar’s Lumen ended the week down by 5.39% to $0.078676.
A bearish start to the day saw Stellar’s Lumen fall to a mid-day intraday low $0.076485 before making a move.
Steering clear of the first major support level at $0.07634, Stellar’s Lumen rose to a late intraday high $0.078692.
In spite of the late rally, Stellar’s Lumen came up short of the first major resistance level at $0.07957.
At the time of writing, Stellar’s Lumen was down by 0.65% to $0.078166. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.079519 before falling to a low $0.077985.
Stellar’s Lumen broke through the first major resistance level at $0.07942 early on.
For the day ahead
Stellar’s Lumen would need to avoid a fall through the $0.07795 pivot to support another run at the first major resistance level at $0.07942.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.079 levels.
Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $0.07795 pivot level would bring the first major support level at $0.07721 into play.
Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07574.
Looking at the Technical Indicators
First Major Support Level: $0.07721
First Major Resistance Level: $0.07942
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 0.26% on Sunday. Following on from a 0.74% gain from Saturday, Tron’s TRX ended the week down by 4.16% to $0.025873.
It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.026146 before hitting reverse.
Falling short of the first major resistance level at $0.02718, Tron’s TRX slid to an early morning intraday low $0.025351.
Steering clear of the first major support level at $0.02466, Tron’s TRX revisited $0.0259 levels before easing back.
Resistance at $0.026 pinned Tron’s TRX back late in the day.
At the time of writing, Tron’s TRX was down by 0.67% to $0.025698. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.026044 before falling to a low $0.025543.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to move back through the $0.02579 pivot level to support another run at the first major resistance level at $0.02623.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.026 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to move through the $0.02579 pivot level would bring the first major support level at $0.02543 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level at $0.02500 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $0.02543
First Major Resistance Level: $0.02623
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
