EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 30th, 2020

EOS

EOS rose by 1.54% on Tuesday. Reversing a 1.13% loss from Monday, EOS ended the day at $2.5986.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.5478 before making a move.

Steering clear of the first major support level at $2.5199, EOS rallied to a final hour intraday high $2.6116.

Falling short of the first major resistance level at $2.6208, EOS slipped back to end the day at sub-$2.60 levels.

At the time of writing, EOS was down by 0.56% to $2.5839. A mixed start to the day saw EOS rise to an early morning high $2.6012 before falling to a low $2.5805.

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

For the day ahead

EOS would need to move back through the $2.5860 pivot level to support a run at the first major resistance level at $2.6242.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.6116.

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

Failure to move back through the pivot level at $2.5860 would bring the first major support level at $2.5604 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.50 levels. The second major support level at $2.5222 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.5604

First Major resistance Level: $2.6242

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 1.30% on Tuesday. Reversing a 0.22% decline from Monday, Stellar’s Lumen ended the day at $0.074111.

It was a mixed start to the day. Stellar’s Lumen fell to an early morning low $0.072743 before rising to a late morning intraday high $0.074987.

Falling short of the first major resistance level at $0.07530, Stellar’s Lumen slid to a late afternoon intraday low $0.072027.

Steering clear of the first major support level at $0.07180, Stellar’s Lumen bounced back to $0.074 levels and into the green.

At the time of writing, Stellar’s Lumen was down by 1.16% to $0.073250. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.074152 before falling to a low $0.072858.

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 $0.07371 pivot to support a run at the first major resistance level at $0.07539.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.075 levels.

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

Failure to move back through the $0.07371 pivot level would bring the first major support level at $0.07243 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 $0.07075 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.07243

First Major Resistance Level: $0.07539

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 0.22% on Tuesday. Partially reversing a 1.24% fall from Monday, Tron’s TRX ended the day at $0.026333.

A relatively bullish start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.026537 before hitting reverse.

Falling short of the first major resistance level at $0.02706, Tron’s TRX slid to a late afternoon intraday low $0.025422.

Tron’s TRX fell through the first major support level at $0.02573 before finding late support.

A late move back through to $0.02630 levels reversed the losses from the day.

At the time of writing, Tron’s TRX was down by 0.65% to $0.02616. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.026359 before falling to a low $0.025956.

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 $0.02610 pivot level to support a run at the first major resistance level at $0.02677.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.026537.

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

Failure to avoid a fall back through the $0.02610 pivot level would bring the first major support level at $0.02566 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level sits at $0.02498.

Looking at the Technical Indicators

First Major Support Level: $0.2566

First Major Resistance Level: $0.2677

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