EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 20th, 2020

Bob Mason
·5 min read

EOS

EOS rose by 1.35% on Monday. Following on from a 1.06% gain on Sunday, EOS ended the day at $2.5834.

A mixed start to the day saw EOS fall an early morning intraday low $2.5239 before making a move.

EOS fell through the first major support level at $2.5246 before rallying to a late afternoon intraday high $2.6151.

The rally saw EOS break through the first major resistance level at $2.5676 and the second major resistance level at $2.5859.

A late pullback, however, saw EOS fall back through the second major resistance level to end the day at sub-$2.5850 levels.

At the time of writing, EOS was down by 0.32% to $2.5751. A mixed start to the day saw EOS rise to an early morning high $2.5871 before falling to a low $2.5684.

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

For the day ahead

EOS would need to avoid a fall back through the $2.5741 pivot level to support a run at the first major resistance level at $2.6244.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.6151.

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

Failure to avoid a fall back through the pivot level at $2.5741 would bring the first major support level at $2.5332 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.50 and the second major support level at $2.4829.

Looking at the Technical Indicators

First Major Support Level: $2.5332

First Major resistance Level: $2.6244

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 rallied by 7.19% on Monday. Reversing a 2.53% slide from Sunday, Stellar’s Lumen ended the day at $0.08518.

It was a bullish start to the day. Stellar’s Lumen rallied from an early morning intraday low $0.07939 to an early afternoon intraday high $0.08747.

The rally saw Stellar’s Lumen break through the day’s major resistance levels before an afternoon pullback.

Stellar’s Lumen fell back through the third major resistance level at $0.08629 to wrap up the day at $0.085 levels.

At the time of writing, Stellar’s Lumen was down by 0.34% to $0.084888. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.085321 before falling to a low $0.084087.

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.08401 pivot to support a run at the first major resistance level at $0.08864.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.08747.

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

Failure to avoid a fall through the $0.08401 pivot level would bring the first major support level at $0.08056 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should continue to steer clear of sub-$0.080 levels. The second major support level sits at $0.07593.

Looking at the Technical Indicators

First Major Support Level: $0.08056

First Major Resistance Level: $0.08864

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 slipped by 0.12% on Monday. Partially reversing a 0.47% gain from Sunday, Tron’s TRX ended the day at $0.025999.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.025509 before making a move.

Tron’s TRX fell the first major support level at $0.02550 before striking an early afternoon intraday high $0.026296.

Tron’s TRX broke through the first major resistance level at $0.02621 before sliding back to sub-$0.02580 levels,

Finding late support, Tron’s TRX moved back through to $0.0259 levels to limit the loss on the day.

At the time of writing, Tron’s TRX was down by 0.86% to $0.025775. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02599 before falling to a low $0.02558.

Tron’s TRX left the first major support level at $0.02557 early on.

For the Day Ahead

Tron’s TRX would need to move through the $0.02593 pivot level to support a run at the first major resistance level at $0.02636.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.026296.

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

Failure to move through the $0.02593 pivot level would bring the first major support level at $0.02557 back into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level at $0.02515 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.02557

First Major Resistance Level: $0.02636

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

This article was originally posted on FX Empire

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