Advertisement
Advertisement

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 20th, 2021

By:
Bob Mason
Published: Sep 20, 2021, 00:55 UTC

After a bearish end to the week on Sunday, failure to move through the day's pivot levels would leave support levels in play.

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

In this article:

EOS

EOS slid by 10.23% on Sunday. Reversing a 4.27% gain from Saturday, EOS ended the week up by 0.69% to $4.9139.

A mixed start to the day saw EOS rise to an early morning intraday high $5.5047 before hitting reverse.

Falling short of the first major resistance level at $5.6206, EOS slid to a late intraday low $4.8592.

The reversal saw EOS fall through the first major support level at $5.2126 and the second major support level at $4.9513 to end the day at sub-$4.95 levels.

At the time of writing, EOS was down by 2.64% to $4.7843. A bearish start to the day saw EOS fall from an early morning high $4.9318 to a low $4.7293.

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

EOSUSD 200921 Hourly Chart

For the day ahead

EOS would need to move through the $5.0926 pivot to bring the first major resistance level at $5.3260 into play.

Support from the broader market would be needed to break out from $5.20 levels.

Barring a broad-based crypto rally, the first major resistance and Sunday’s high $5.5047 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $5.7381 before any pullback.

Failure to move through the $5.0926 pivot would bring the first major support level at $4.6805 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.00 levels. The second major support level at $4.4471 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4.6805

First Major resistance Level: $5.3260

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 2.73% on Sunday. Reversing a 0.81% gain from Saturday, Stellar’s Lumen ended the week down by 5.72% to $0.3134.

A mixed start to the day saw Stellar’s Lumen rise to a late morning intraday high $0.3248 before hitting reverse.

Falling short of the first major resistance level at $0.3284, Stellar’s Lumen fell to a late intraday low $0.3104.

Stellar’s Lumen fell through the first major support level at $0.3156 to end the day at $0.313 levels.

At the time of writing, Stellar’s Lumen was down by 1.70% to $0.3081. A bearish start to the day saw Stellar’s Lumen was fall from an early morning high $0.3147 to a low $0.3000.

Stellar’s Lumen fell through the first major support level at $0.3076 and the second major support level at $0.3018 early on.

XLMUSD 200921 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3162 pivot to bring the first major resistance level at $0.3220 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.32 levels.

Barring an extended rally, the first major resistance level and Sunday’s high $0.3248 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.33 levels. The second major resistance level sits at $0.3306.

Failure to move through the $0.3162 pivot would bring the first major support level at $0.3076 back into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level at $0.3018 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3076

First Major Resistance Level: $0.3220

23.6% FIB Retracement Level: $0.

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 2.17% on Sunday. Reversing a 0.28% gain from Saturday, Tron’s TRX ended the week down by 7.89% to $0.1035.

A mixed start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.1075 before hitting reverse.

Falling short of the first major resistance level at $0.1090, Tron’s TRX fell to a late intraday low $0.1022.

Finding support at the first major support level at $0.1029, however, Tron’s TRX ended the day at $0.103 levels.

At the time of writing, Tron’s TRX was down by 2.72% to $0.1007. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.1041 before falling to a low 0.9973.

Tron’s TRX fell through the first major support level at $0.1013 early on.

TRXUSD 200921 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.1044 pivot to bring the first major resistance level at $0.1066 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through the first major support level to $0.1050 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.1075 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1097.

Failure to move back through the first major support level  would bring the second major support level at $0.09910 and the 38.2% FIB of $0.9890 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.0950 levels. The third major support level sits at $0.09380.

Looking at the Technical Indicators

First Major Support Level: $0.1013

First Major Resistance Level: $0.1066

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

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.

Did you find this article useful?

Advertisement