EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 8th, 2020

EOS

EOS fell by 1.98% on Wednesday. Partially reversing a 6.66% rally from Tuesday, EOS ended the day at $2.6438.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.5926 before making a move.

Steering clear of the first major support level at $2.4571, EOS rallied to a mid-afternoon intraday high $2.7187.

Falling well short of the first major resistance level at $2.9625, EOS fell back to sub-$2.65 levels and into the deep red.

At the time of writing, EOS was down by 0.45% to $2.6319. A mixed start to the day saw EOS rise to an early morning high $2.6498 before falling to a low $2.6297.

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

For the day ahead

EOS would need to move through the $2.6517 pivot level to support a run at the first major resistance level at $2.7108.

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

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2.7187 would likely cap any upside.

Failure to move through the pivot level at $2.6517 would bring the first major support level at $2.5847 into play.

Barring an extended sell-off, however, EOS should steer of the second major support level at $2.5256.

Looking at the Technical Indicators

First Major Support Level: $2.5847

First Major resistance Level: $2.7108

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 0.25% on Wednesday. Following on from a 1.19% decline on Tuesday, Stellar’s Lumen ended the day at $0.072253.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.070575 before making a move.

Stellar’s Lumen fell through the first major support level at $0.07092 before rising to a mid-afternoon intraday high $0.073282.

Falling well short of the first major resistance level at $0.07464, however, Stellar’s Lumen fell back to sub-$0.072.

Finding late support, Stellar’s Lumen moved back through to $0.072 levels to limit the downside on the day.

At the time of writing, Stellar’s Lumen was down by 0.72% to $0.071731. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.072364 to a low $0.071616.

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 $0.07204 pivot to support a run at the first major resistance level at $0.07350.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.073 levels.

Barring another broad-based crypto rally, the first major resistance level and Wednesday’s high $0.073282 would likely cap any upside.

Failure to move through the $0.07204 pivot level would bring the first major support level at $0.07079 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should continue to steer clear of sub-$0.070 levels. The second major support level sits at $0.06933.

Looking at the Technical Indicators

First Major Support Level: $0.07079

First Major Resistance Level: $0.07350

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 0.21% on Wednesday. Following on from a 3.38% slide on Tuesday, Tron’s TRX ended the day at $0.02544.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.024998 before making a move.

Finding support at the first major support level at $0.025, Tron’s TRX rose to a late intraday high $0.02571.

Falling well short of the first major resistance level at $0.02638, however, fell back to sub-$0.0255 levels and into the red.

A final hour move back through to $0.0256 levels, however, reversed the losses on the day.

At the time of writing, Tron’s TRX was down by 0.62% to $0.025448. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.025623 to a low $0.025222.

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 $0.02544 pivot level to support a run at the first major resistance level at $0.02588.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.02571.

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

Failure to avoid a fall back through the $0.02544 pivot level would bring the first major support level at $0.02517 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.0473.

Looking at the Technical Indicators

First Major Support Level: $0.02517

First Major Resistance Level: $0.02588

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