EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 29th, 2020

Bob Mason
·5 min read

EOS

EOS slipped by 0.81% on Wednesday. Partially reversing a 1.51% gain from Tuesday, EOS ended the day at $2.6523.

It was another mixed start to the day. EOS fell to a late morning low $2.6069 before making a move.

The pullback saw EOS fall through the first major support level at $2.6258 before striking a late morning intraday high $2.7577.

EOS broke through the first major resistance level at $2.7143 before hitting reverse. Coming up against the second major resistance level at 2.7563, EOS slid to an early afternoon intraday low $2.6050.

EOS fall back through the first major support level at $2.6258 before a partial recovery to $2.65 levels.

At the time of writing, EOS was up by 0.11% to $2.6553. A mixed start to the day saw EOS fall to an early morning low $2.6510 before rising to a high $2.6735.

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

For the day ahead

EOS would need to move back through the $2.6723 pivot level to support a run at the first major resistance level at $2.7377.

Support from the broader market would be needed, however, for EOS to break back through to $2.70 levels, however.

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

Failure to move through the pivot level at $2.6723 would bring the first major support level at $2.5869 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.55 levels and the second major support level at $2.5215.

Looking at the Technical Indicators

First Major Support Level: $2.5869

First Major resistance Level: $2.7377

23.6% FIB Retracement Level: $

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen slid by 4.16% on Wednesday. Reversing a 0.83% gain from Tuesday, Stellar’s Lumen ended the day at $0.078369.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.082252 before hitting reverse.

Falling short of the first major resistance level at $0.08300, Stellar’s Lumen slid to a late intraday low $0.077413.

The sell-off saw Stellar’s Lumen fall through the day’s major support levels before a partial recovery to $0.078 levels.

Stellar’s Lumen broke back through the third major support level at $0.07770 late in the day.

At the time of writing, Stellar’s Lumen was down by 0.15% to $0.078252. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.078222 before falling to a low $0.078210.

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 $0.07934 pivot to support a run at the first major resistance level at $0.08128.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.081 levels.

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

Failure to move through the $0.07934 pivot level would bring the first major support level at $0.07644 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07451.

Looking at the Technical Indicators

First Major Support Level: $0.07644

First Major Resistance Level: $0.08128

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 0.24% on Wednesday. Partially reversing a 1.40% gain from Tuesday, Tron’s TRX ended the day at $0.026948.

It was another mixed start to the day. Tron’s TRX fell to a mid-morning low $0.02657 before making a move.

Finding support at the first major support level at $0.02661, Tron’s TRX rose to a late morning intraday high $0.027437.

Falling short of the first major resistance level at $0.02761, Tron’s TRX slid to an early afternoon intraday low $0.026413.

Tron’s TRX fell through the first major support level at $0.02661 before wrapping up the day at $0.0269 levels.

At the time of writing, Tron’s TRX was up by 0.42% to $0.02706. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02679 before rising to a high $0.02714.

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 through the $0.02693 pivot level to support another run at the first major resistance level at $0.02745.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s $0.027437 high .

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

Failure to avoid a fall through the $0.02693 pivot level would bring the first major support level at $0.02643 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 $0.02591.

Looking at the Technical Indicators

First Major Support Level: $0.02643

First Major Resistance Level: $0.02745

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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