EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 28th, 2020
EOS
EOS rose by 0.88% on Sunday. Following on from a 0.79% gain from Saturday, EOS ended the week down by 3.11% to $2.5895.
It was a mixed start to the day. EOS rose to an early morning high $2.5991 before hitting reverse.
Falling short of the first major resistance level at $2.6307, EOS fell to a midday intraday low $2.5245.
Steering clear of the first major support level at $2.5030, EOS struck a late afternoon intraday high $2.6003.
Continuing to fall short of the major resistance levels, however, EOS fell back to sub-$2.57 levels and into the red.
A late move back through to $2.58 levels, however, delivered the upside on the day.
At the time of writing, EOS was up by 0.65% to $2.6064. A bullish start to the day saw EOS rise from an early morning low $2.5709 to a high $2.6195.
EOS test the first major resistance level at $2.6184 early on.
For the day ahead
EOS would need to avoid a fall through the $2.5714 pivot level to support another run at the first major resistance level at $2.6184.
Support from the broader market would be needed, however, for EOS to break back through to $2.61 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the pivot level at $2.5714 would bring the first major support level at $2.5426 into play.
Barring an extended sell-off, however, EOS should steer of the second major support level at $2.4956.
Looking at the Technical Indicators
First Major Support Level: $2.5426
First Major resistance Level: $2.6184
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 0.49% on Sunday. Following on from a 1.02% loss on Saturday, Stellar’s Lumen ended the week down by 4.43% to $0.073443.
A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.07448.
Falling short of the first major resistance level at $0.07601, Stellar’s Lumen slid to a midday intraday low $0.071230.
Stellar’s Lumen fell through the first major support level at $0.07217 before briefly revisiting $0.07379 levels.
Stellar’s Lumen eased back to $0.0726 levels before finding late support to limit the loss on the day.
At the time of writing, Stellar’s Lumen was up by 0.67% to $0.073935. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.073367 to a high $0.074307.
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 $0.07305 pivot to support a run at the first major resistance level at $0.07487.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Sunday’s high $0.07448.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $0.07305 pivot level would bring the first major support level at $0.07162 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 sits at $0.06980.
Looking at the Technical Indicators
First Major Support Level: $0.07162
First Major Resistance Level: $0.07487
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 slid by 2.32% on Sunday. Reversing a 0.33% gain from Saturday, Tron’s TRX ended the week down by 1.70% to $0.02652.
A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.027622 before hitting reverse.
Falling short of the first major resistance level at $0.02882, Tron’s TRX slid to a midday intraday low $0.025848.
Tron’s TRX fell through the first major support level at $0.02622 before steadying.
A move back through the first major support level to $0.0265 levels limited the downside on the day.
At the time of writing, Tron’s TRX was up by 1.41% to $0.02689. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.026303 to a high $0.027099.
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 $0.02666 pivot level to support a run at the first major resistance level at $0.02748.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.027 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.02762 would likely cap any upside.
Failure to avoid a fall back through the $0.2666 pivot level would bring the first major support level at $0.02570 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 $0.2489.
Looking at the Technical Indicators
First Major Support Level: $0.2570
First Major Resistance Level: $0.2748
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
