EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 23rd, 2020
Bob Mason
5 min read
EOS
EOS slid by 5.20% on Sunday. Partially reversing a 16.31% jump on Saturday, EOS ended the week up by 22.62% to $3.0658.
A mixed start to the day saw EOS rise to an early morning intraday high $3.3098 before hitting reverse.
Falling short of the first major resistance level at $3.4353, EOS slid to a late morning intraday low $2.8864.
Steering clear of the first major support level at $2.8594, EOS briefly revisited $3.17 before falling back into the deep red.
At the time of writing, EOS was down by 0.05% to $3.0068. A mixed start to the day saw EOS rise to an early morning high $3.1081 before falling to a low $2.9870
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through the $3.0873 pivot level to support a run at the first major resistance level at $3.2883.
Support from the broader market would be needed, however, for EOS to break back through to $3.20 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $3.3098 would likely cap any upside. In the event of another breakout, EOS could test resistance at $3.5 before any pullback. The second major resistance level sits at $3.5107.
Failure to move back through the pivot level at $3.0873 would bring the first major support level at $2.8649 into play.
Barring another extended sell-off, however, EOS should steer of sub-$2.80 levels. The second major support level sits at $2.6639.
Looking at the Technical Indicators
First Major Support Level: $2.8649
First Major resistance Level: $3.2883
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 4.36% on Sunday. Following Saturday’s 23.45% surge, Stellar’s Lumen ended the week up by 30.3% to $0.10446.
It was a mixed start to the day. Stellar’s Lumen rose to an early morning intraday high $0.1150 before hitting reverse.
Falling short of the first major resistance level at $0.1167, Stellar’s Lumen slid to a late morning intraday low $0.09602.
Steering clear of the first major support level at $0.09523, Stellar’s Lumen briefly revisited $0.11 levels before easing back.
At the time of writing, Stellar’s Lumen was down by 0.03% to $0.10242. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.10584 before falling to a low $0.10150.
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 $0.10516 pivot to support a run at the first major resistance level at $0.11430.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.11 levels.
Barring another broad-based crypto rally, the first major resistance level and Sunday’s high $0.1150 would likely cap any upside.
In the event of another breakout, Stellar’s Lumen could test resistance at $0.12 before any pullback. The second major resistance level sits at $0.12414.
Failure to move back through the $0.10516 pivot level would bring the first major support level at $0.09532 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of sub-$0.090 levels. The second major support level sits at $0.08618.
Looking at the Technical Indicators
First Major Support Level: $0.09532
First Major Resistance Level: $0.11430
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 5.78% on Sunday. Partially reversing a 15.85% rally from Saturday, Tron’s TRX ended the week up by 13.95% to $0.02876.
Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.03097 before hitting reverse.
Falling short of the first major resistance level at $0.03219, Tron’s TRX slid to a late morning intraday low $0.02710.
The reversal saw Tron’s TRX fall through the 23.6% FIB of $0.0291 and the first major support level at $0.02745.
Finding support through the second half of the day, however, Tron’s TRX revisited $0.030 levels before falling back into the deep red.
While leaving the major resistance levels untested, Tron’s TRX broke back through the 23.6% FIB of $0.0291 before ending the day a sub-$0.029.
At the time of writing, Tron’s TRX was down by 0.53% to $0.028334. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02928 before falling to a low $0.02824
While leaving the major support and resistance levels untested early on, Tron’s TRX tested the 23.6% FIB of $0.0291.
For the Day Ahead
Tron’s TRX would need to move back through the $0.02895 pivot level to support a run at the first major resistance level at $0.03079.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.030 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.03097 would likely cap any upside.
In the event of another breakout, the second major resistance level at $0.03281 would likely come into play.
Failure to move back through the $0.02895 pivot level would bring the first major support level at 0.02692 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.026 levels. The second major support level sits at $0.02508.
Looking at the Technical Indicators
First Major Support Level: $0.02692
First Major Resistance Level: $0.03079
23.6% FIB Retracement Level: $0.0291
38.2% FIB Retracement Level: $0.0428
62% FIB Retracement Level: $0.0648
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