EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 6th, 2020

EOS

EOS rose by 0.39% on Monday. Following on from a 1.55% gain on Sunday, EOS ended the day at $2.5271.

It was a mixed start to the day. EOS rose to an early morning high $2.5390 before hitting reverse.

Falling short of the first major resistance level at $2.5475, EOS fell to a mid-morning low $2.4959 before making a move.

Steering clear of the major support levels, EOS struck an early afternoon intraday high $2.5393 before a 2^nd dip.

Falling short of the first major resistance level once more, EOS slid to a late afternoon intraday low $2.4897.

Steering clear of the first major support level at $2.4758, EOS recovered to $2.52 levels to end the day in the green.

At the time of writing, EOS was down by 0.05% to $2.5258. A mixed start to the day saw EOS rise to an early morning high $2.5390 before falling to a low $2.5211.

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

For the day ahead

EOS would need to avoid a fall through the $2.5187 pivot level to support a run at the first major resistance level at $2.5477.

Support from the broader market would be needed, however, for EOS to break back through to $2.54 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 $2.5187 would bring the first major support level at $2.4981 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.46 levels. The second major support level at $2.4691 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.4981

First Major resistance Level: $2.5477

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 rose by 0.53% on Monday. Following on from a 2.61% rally on Sunday, Stellar’s Lumen ended the day at $0.07334.

It was a bullish start to the day. Stellar’s Lumen rose to an early morning intraday high $0.074160 before hitting reverse.

The early rally saw Stellar’s Lumen break through the first major resistance level at $0.07407 before sliding to a late morning intraday low $0.072317.

Steering clear of the first major support level at $0.07099, Stellar’s Lumen struck an afternoon high $0.073918 before easing back.

The pullback saw Stellar’s Lumen fall back into the red before wrapping up the day at $0.073 levels.

At the time of writing, Stellar’s Lumen was down by 0.15% to $0.073224. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.07350 before falling to a low $0.072918.

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

For the day ahead

Stellar’s Lumen would need to move back through the $0.07327 pivot to support another run at the first major resistance level at $0.07422.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.074 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.07416 would likely cap any upside.

Failure to move back through the $0.07327 pivot level would bring the first major support level at $0.07238 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.070 levels. The second major support level at $0.07143 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.07238

First Major Resistance Level: $0.07422

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 fell by 0.42% on Monday. Following on from a 2.34% slide on Sunday, Tron’s TRX ended the day at $0.02634.

A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.02686 before hitting reverse.

Coming up short of the first major resistance level at $0.02735, Tron’s TRX slid to a mid-morning intraday low $0.025915.

Steering clear of the first major support level at $0.02570, Tron’s TRX recovered to $0.0266 levels before easing back into the red. The late partial recovery limited the losses from the day.

At the time of writing, Tron’s TRX was up by 0.49% to $0.02647. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02657 before falling to a low $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 avoid a fall back through the $0.02637 pivot level to support a run at the first major resistance level at $0.02683.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.02680 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.02686 would likely cap any upside.

Failure to avoid a fall back through the $0.02637 pivot level would bring the first major support level at $0.02588 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 $0.02543 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02588

First Major Resistance Level: $0.02683

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