EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 7th, 2020

EOS

EOS rallied by 6.66% on Tuesday. Following on from a 0.39% gain on Monday, EOS ended the day at $2.6972.

It was a mixed start to the day. EOS fell to a late morning intraday low $2.4823 before making a move.

The pullback saw EOS fall through the first major support level at $2.4981.

An early afternoon surge, however, saw EOS strike a late afternoon intraday high $2.9877 before easing back.

EOS broke through the day’s major resistance levels before falling back to sub-$2.70 levels.

The third major resistance level at $2.6179 provided support late in the day.

At the time of writing, EOS was down by 2.83% to $2.6210. A bearish start to the day saw EOS fall from an early morning high $2.6985 to a low $2.5944.

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

For the day ahead

EOS would need to move through the $2.7224 pivot level to support a run at the first major resistance level at $2.9625.

Support from the broader market would be needed, however, for EOS to break out from $2.70 levels, however.

Barring an extended crypto rally, resistance at $2.80 would likely leave EOS short of the first major resistance level.

Failure to move through the pivot level at $2.7224 would bring the first major support level at $2.4571 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.45 levels. The second major support level sits at $2.2170.

Looking at the Technical Indicators

First Major Support Level: $2.4571

First Major resistance Level: $2.9625

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 1.19% on Tuesday. Reversing a 0.53% gain from Monday, Stellar’s Lumen ended the day at $0.072433.

It was a bullish start to the day. Stellar’s Lumen rose to an early morning high $0.074945 before hitting reverse.

The early rally saw Stellar’s Lumen break through the first major resistance level at $0.07422 before sliding to a mid-afternoon intraday low $0.071622.

Stellar’s Lumen fell through the first major support level at $0.07238 before striking a late afternoon intraday high $0.075343.

Stellar’s Lumen broke through the first major resistance level and the second major resistance level at $0.07511 before another sell-off.

The second sell-off saw Stellar’s Lumen fall back through the first major support level at $0.07238 to sub-$0.072 levels.

Finding late support, Stellar’s Lumen broke back through the first major support level to end the day at $0.07243 levels.

At the time of writing, Stellar’s Lumen was down by 1.10% to $0.071538. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.072433 to a low $0.071300.

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 $0.07313 pivot to support a run at the first major resistance level at $0.07464.

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

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

Failure to move back through the $0.07313 pivot level would bring the first major support level at $0.07092 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.070 levels. The second major support level sits at $0.06941.

Looking at the Technical Indicators

First Major Support Level: $0.07092

First Major Resistance Level: $0.07464

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 slid by 3.38% on Tuesday. Following on from a 0.42% decline on Monday, Tron’s TRX ended the day at $0.02556.

A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.026646 before hitting reverse.

Coming up short of the first major resistance level at $0.02683, Tron’s TRX slid to a late intraday low $0.025260.

Tron’s TRX fell through the first major support level at $0.02588 and the second major support level at $0.02543.

Finding late support, Tron’s TRX broke back through the second major support level to end the day at $0.0255 levels.

At the time of writing, Tron’s TRX was down by 1.06% to $0.025291. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.025669 to a low $0.025141.

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 $0.02582 pivot level to support a run at the first major resistance level at $0.02638.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.026 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.02665 would likely cap any upside.

Failure to move through the $0.02582 pivot level would bring the first major support level at $0.02500 back into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level sits at $0.02444.

Looking at the Technical Indicators

First Major Support Level: $0.02500

First Major Resistance Level: $0.02638

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