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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 26th, 2020

By:
Bob Mason
Published: Oct 26, 2020, 02:14 UTC

It's a bullish start to the day for the majors. Steering clear of the day's pivot levels would bring resistance levels into play.

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

EOS

EOS rose by 1.87% on Sunday. Following on from a 0.67% gain on Saturday, EOS ended the week up by 6.29% to $2.7095.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.5959 before making a move.

The pullback saw EOS fall through the first major support level at $2.6240 before striking a late intraday high $2.7431.

EOS broke through the first major resistance level at $2.6888 and the second major resistance level at $2.7163.

A bearish end to the day, however, saw EOS fall back through the second major resistance level to end the day at sub-$2.71 levels.

At the time of writing, EOS was up by 0.47% to $2.7222. A mixed start to the day saw EOS fall to an early morning low $2.6973 before rising to a high $2.7528.

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

EOS/USD 26/10/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.6828 pivot level to support a run at the first major resistance level at $2.7698.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.7528.

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 $2.6828 would bring the first major support level at $2.6226 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.60 levels and the second major support level at $2.5356.

Looking at the Technical Indicators

First Major Support Level: $2.6226

First Major resistance Level: $2.7698

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 2.87% on Sunday. Reversing a 2.20% gain from Saturday, Stellar’s Lumen ended the week up by 4.67% to $0.083177.

It was a mixed start to the day. Stellar’s Lumen rose to an early morning intraday high $0.085851 before hitting reverse.

Falling short of the first major resistance level at $0.08681, Stellar’s Lumen slid to a late afternoon intraday low $0.082125.

Stellar’s Lumen fell through the first major support level at $0.08390 and the second major support level at $0.08219.

Finding late support, however, Stellar’s Lumen briefly revisited $0.085 levels before closing out at $0.083 levels.

Stellar’s Lumen fell back through the first major support level to end the day in the deep red.

At the time of writing, Stellar’s Lumen was up by 0.94 to $0.083959. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.082549 before rising to a high $0.084285.

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

XLM/USD 26/10/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.08372 pivot to support a run at the first major resistance level at $0.08531.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.085 levels.

Barring another broad-based crypto rally, the first major resistance level and Sunday’s high $0.085851 would likely cap any upside.

Failure to avoid a fall back through the $0.08372 pivot level would bring the first major support level at $0.08158 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 $0.07999.

Looking at the Technical Indicators

First Major Support Level: $0.08158

First Major Resistance Level: $0.08531

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 0.38% on Sunday. Following on from a 1.41% gain on Saturday, Tron’s TRX ended the week up by 4.18% to $0.027121.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.02773 before falling to an early morning intraday low $0.02648.

Tron’s TRX broke through the first major resistance level at $0.02758 before falling through the first major support level at $0.02664.

Finding support through the afternoon, however, Tron’s TRX recovered to $0.02710 levels to end the day in the green.

At the time of writing, Tron’s TRX was up by 0.67% to $0.027303. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02680 before rising to a high $0.02735.

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

TRX/USD 26/10/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02711 pivot level to support another run at the first major resistance level at $0.02775.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0277 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s $0.027734 high would likely cap any upside.

Failure to avoid a fall back through the $0.02711 pivot level would bring the first major support level at $0.02649 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.026 levels. The second major support level sits at $0.02585.

Looking at the Technical Indicators

First Major Support Level: $0.02649

First Major Resistance Level: $0.02775

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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