EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 24th, 2020

EOS

EOS slid by 4.94% on Wednesday. Reversing a 2.79% gain from Tuesday, EOS ended the day at $2.4397.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.5817 before hitting reverse.

Falling short of the first major resistance level at $2.6154, EOS fell to a mid-morning low $2.5223.

Steering clear of the first major support level at $2.5098, EOS briefly revisited $2.57 levels.

Continuing to fall short of the major resistance levels, however, EOS slid to a late intraday low $2.3876.

EOS fell through the first major support level at $2.5098 and the second major support level at $2.4451.

Late in the day, EOS briefly broke back through the second major support level before falling back to sub-$2.44 levels.

At the time of writing, EOS was up by 0.77% to $2.4585. A mixed start to the day saw EOS fall to an early morning low $2.4209 before rising to a high $2.4684.

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

For the day ahead

EOS would need to move through the $2.4697 pivot level to support a run at the first major resistance level at $2.5517.

Support from the broader market would be needed, however, for EOS to break back through to $2.50 levels.

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

Failure to move through the pivot level at $2.4697 would bring the first major support level at $2.3576 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.30 levels. The second major support level sits at $2.2756.

Looking at the Technical Indicators

First Major Support Level: $2.3576

First Major resistance Level: $2.5517

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 slid by -6.20% on Wednesday. Partially reversing a 2.47% gain from Tuesday, Stellar’s Lumen ended the day at $0.067295.

A bearish start to the day saw Stellar’s Lumen fall to a mid-morning low $0.069874. Stellar’s Lumen fell through the first major support level at $0.07008 before striking an early afternoon intraday high $0.07225.

Falling short of the first major resistance level at $0.07283, Stellar’s Lumen slid to a late intraday low $0.067002.

Stellar’s Lumen fell through the first major support level at $0.07008 and the second major support level at $0.06841.

At the time of writing, Stellar’s Lumen was up by 1.82% to $0.068521. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.066738 before rising to a high $0.068777.

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 $0.06885 pivot to support a run at the first major resistance level at $0.07070.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.069 levels

Barring a broad-based crypto rally, resistance at $0.070 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move through the $0.06885 pivot level would bring the first major support level at $0.06545 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.06360.

Looking at the Technical Indicators

First Major Support Level: $0.06545

First Major Resistance Level: $0.07070

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 1.14% on Wednesday. Reversing a 0.27% gain from Tuesday, Tron’s TRX ended the day at $0.024765.

A bearish start to the day saw Tron’s TRX fall to a late morning low $0.024601.

Steering clear of the first major support level at $0.02452, Tron’s TRX rose to a late afternoon intraday high $0.026173.

Tron’s TRX broke through the first major resistance level at $0.02561 and the second major resistance level at $0.02614.

Pressured by the broader market, however, Tron’s TRX slid to a late intraday low $0.024598.

Coming within range of the first major support level at $0.02452, Tron’s TRX moved back through to $0.0247 levels to limit the loss.

At the time of writing, Tron’s TRX was up by 1.06% to $0.025028. A choppy start to the day saw Tron’s TRX fall to an early morning low $0.024362 before striking a high $0.025232.

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

For the Day Ahead

Tron’s TRX would need to move back through the $0.02518 pivot level to support a run at the first major resistance level at $0.02576.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.0255 levels.

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

Failure to move back through the $0.02518 pivot level would bring the first major support level at $0.02418 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.024 levels. The second major support level sits at $0.02360.

Looking at the Technical Indicators

First Major Support Level: $0.02418

First Major Resistance Level: $0.02576

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