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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 28th, 2020

By:
Bob Mason
Updated: Nov 2, 2020, 16:11 GMT+00:00

It's a mixed start to the day for the majors. Expect the pivot levels and early morning highs to be key levels on the day.

Coins of crypto currency are presented on a dark background. Virtual money concept.

EOS

EOS rose by 1.51% on Tuesday. Partially reversing a 2.94% slide from Monday, EOS ended the day at $2.6723.

It was another mixed start to the day. EOS fell to a late morning intraday low $2.6213 before making a move.

Steering clear of the first major support level at $2.5622, EOS rose to a late afternoon intraday high $2.7098.

Falling short of the first major resistance level at $2.7281, EOS fell back to wrap up the day at sub-$2.70 levels.

At the time of writing, EOS was up by 0.26% to $2.6791. A mixed start to the day saw EOS rise to an early morning high $2.6805 before falling to a low $2.6543.

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

EOS/USD 28/10/20 Hourly Chart
EOS/USD 29/10/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.6678 pivot level to support a run at the first major resistance level at $2.7143.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.7098.

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 $2.6678 would bring the first major support level at $2.6258 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.60 levels and the second major support level sits at $2.5793.

Looking at the Technical Indicators

First Major Support Level: $2.6258

First Major resistance Level: $2.7143

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 0.83% on Tuesday. Partially reversing a 2.28% slide from Monday, Stellar’s Lumen ended the day at $0.08182.

It was a bullish start to the day. Stellar’s Lumen rose from an early morning intraday low $0.081034 to an early afternoon intraday high $0.083193.

Falling short of the first major resistance level at $0.08395, Stellar’s Lumen fell back to wrap up the day at $0.0818 levels.

At the time of writing, Stellar’s Lumen was up by 0.11% to $0.08191. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.081536 before rising to a high $0.082023.

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

XLM/USD 28/10/20 Hourly Chart
XLM/USD 29/10/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move back through the $0.08202 pivot to support a run at the first major resistance level at $0.08300.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.083 levels.

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

Failure to move back through the $0.08202 pivot level would bring the first major support level at $0.08084 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07986.

Looking at the Technical Indicators

First Major Support Level: $0.08084

First Major Resistance Level: $0.08300

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 1.40% on Tuesday. Reversing a 0.72% fall from Monday, Tron’s TRX ended the day at $0.027159.

It was a mixed start to the day. Tron’s TRX fell to a late morning intraday low $0.026518 before making a move.

Steering clear of the first major support level at $0.02617, Tron’s TRX rose to a late afternoon intraday high $0.027511.

Tron’s TRX broke through the first major resistance level at $0.02749 before falling back to sub-$0.027 levels.

Finding late support, however, Tron’s TRX moved back through to $0.027 levels to wrap up the day in the green.

At the time of writing, Tron’s TRX was down by 0.39% to $0.027053. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.026815 before rising to a high $0.027378.

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

TRX/USD 28/10/20 Hourly Chart
TRX/USD 29/10/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move back through the $0.02706 pivot level to support another run at the first major resistance level at $0.02761.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.027511.

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

Failure to move back through the $0.02706 pivot level would bring the first major support level at $0.02661 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.026 levels. The second major support level at $0.02607 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02661

First Major Resistance Level: $0.02761

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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