EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 12th, 2020

EOS

EOS rose by 0.55% on Sunday. Following on from a 0.04% gain on Saturday, EOS ended the week up by 5.63% to $2.6590.

It was a mixed start to the day. EOS fell to an early morning low $2.6335 before making a move.

Steering clear of the first major support level at $2.5618, EOS rallied to a late morning intraday high $2.6901.

Falling well short of the first major resistance level at $2.7490, EOS slid to a late intraday low $2.5994.

Steering clear of the first major support level at $2.5618, EOS bounced back to end the day at $2.65 levels.

At the time of writing, EOS was down by 0.41% to $2.6481. A bearish start to the day saw EOS fall from an early morning high $2.6603 to a low $2.6473.

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

For the day ahead

EOS would need to move back through the $2.6495 pivot level to support a run at the first major resistance level at $2.6996.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $2.6901.

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

Failure to move back through the pivot level at $2.6495 would bring the first major support level at $2.6089 into play.

Barring an extended sell-off, however, EOS should steer of the second major support level at $2.5588.

Looking at the Technical Indicators

First Major Support Level: $2.6089

First Major resistance Level: $2.6996

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 0.18% on Sunday. Following a 3.03% rally on Saturday, Stellar’s Lumen ended the week up by 5.74% to $0.077132.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.076736 before making a move.

Steering clear of the first major support level at $0.07535, Stellar’s Lumen rose to a late afternoon intraday high $0.07886.

Coming up against the first major resistance level at $0.07885, Stellar’s Lumen fell back to sub-$0.077 before finding support.

A late move back through to $0.077 levels reduced the losses on the day.

At the time of writing, Stellar’s Lumen was flat at $0.077129. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.07693 before rising to a high $0.077347.

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

For the day ahead

Stellar’s Lumen would need to move through the $0.07758 pivot to support a run at the first major resistance level at $0.07842.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.078 levels.

Barring another broad-based crypto rally, the first major resistance level and Sunday’s high $0.07886 would likely cap any upside.

Failure to move through the $0.07758 pivot level would bring the first major support level at $0.07629 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should continue to steer clear of sub-$0.076 levels. The second major support level sits at $0.07545.

Looking at the Technical Indicators

First Major Support Level: $0.07629

First Major Resistance Level: $0.07842

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 0.21% on Sunday. Following on from a 0.89% gain on Saturday, Tron’s TRX ended the week down by 0.18% to $0.02650.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.02605 before making a move.

Steering clear of the first major support level at $0.02557, Tron’s TRX rose to a late afternoon intraday high $0.026858.

Falling well short of the first major resistance level at $0.02751, however, fell back to sub-$0.0262 levels and into the red.

A late move back through to $0.0265 levels, however, delivered the upside on the day.

At the time of writing, Tron’s TRX was up by 0.04% to $0.02651. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02664 before falling to a low $0.02636.

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 $0.02647 pivot level to support a run at the first major resistance level at $0.02689.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday’s high $0.026858.

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

Failure to avoid a fall back through the $0.02647 pivot level would bring the first major support level at $0.02608 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.02566.

Looking at the Technical Indicators

First Major Support Level: $0.02608

First Major Resistance Level: $0.02689

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