EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 21st, 2020

EOS

EOS slid by 2.04% on Tuesday. Reversing a 1.35% gain from Monday, EOS ended the day at $2.5285.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.5885 before hitting reverse.

Falling short of the first major resistance level at $2.6244, EOS slid to a late intraday low $2.4941.

The sell-off saw EOS fall through the first major support level at $2.5332 before a brief recovery to $2.53 levels.

Coming up against the first major support level, EOS eased back to end the day at $2.52 levels.

At the time of writing, EOS was up by 0.14% to $2.5321. A mixed start to the day saw EOS fall to an early morning low $2.5202 before rising to a high $2.5454.

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

For the day ahead

EOS would need to move back through the $2.5370 pivot level to support a run at the first major resistance level at $2.5800.

Support from the broader market would be needed, however, for EOS to break out from $2.55 levels.

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

Failure to move back through the pivot level at $2.5370 would bring the first major support level at $2.4856 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.45 and the second major support level at $2.4426.

Looking at the Technical Indicators

First Major Support Level: $2.4856

First Major resistance Level: $2.5800

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 slid by 5.01% on Tuesday. Partially reversing a 7.19% rally from Monday, Stellar’s Lumen ended the day at $0.080918.

It was a bullish start to the day. Stellar’s Lumen rose to an early morning intraday high $0.086852 before hitting reverse.

Falling short of the first major resistance level at $0.08864, Stellar’s Lumen slid to a late intraday low $0.08050.

Finding support at the first major support level at $0.08056, Stellar’s Lumen briefly revisited $0.082 levels before easing back.

The first major support level at $0.08056 limited the downside on the day.

At the time of writing, Stellar’s Lumen was up by 2.02% to $0.082554. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.080452 to a high $0.082792.

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 $0.08276 pivot to support a run at the first major resistance level at $0.08501.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from $0.084 levels.

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

Failure to move through the $0.08501 pivot level would bring the first major support level at $0.07866 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.078 levels. The second major support level sits at $0.07640.

Looking at the Technical Indicators

First Major Support Level: $0.07866

First Major Resistance Level: $0.08501

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 ended the day flat on Tuesday. Following a 0.12% decline on Monday, Tron’s TRX ended the day at $0.02587.

A mixed start to the day saw Tron’s TRX fall to a late morning intraday low $0.02522 before making a move.

Tron’s TRX fell the first major support level at $0.02557 before striking an early afternoon intraday high $0.02928.

Tron’s TRX broke through the day’s major resistance levels before sliding back through the resistance levels to sub-$0.026 levels.

At the time of writing, Tron’s TRX was up by 0.67% to $0.026043. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02582 before rising to a high $0.02625

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

For the Day Ahead

Tron’s TRX would need to move through the $0.02679 pivot level to support a run at the first major resistance level at $0.02836.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.027 levels.

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

Failure to move through the $0.02679 pivot level would bring the first major support level at $0.02430 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.024 levels. The second major support level sits at $0.02273.

Looking at the Technical Indicators

First Major Support Level: $0.02430

First Major Resistance Level: $0.02836

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