EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 28th, 2020

Bob Mason
·5 min read

EOS

EOS rose by 1.51% on Tuesday. Partially reversing a 2.94% slide from Monday, EOS ended the day at $2.6723.

It was another mixed start to the day. EOS fell to a late morning intraday low $2.6213 before making a move.

Steering clear of the first major support level at $2.5622, EOS rose to a late afternoon intraday high $2.7098.

Falling short of the first major resistance level at $2.7281, EOS fell back to wrap up the day at sub-$2.70 levels.

At the time of writing, EOS was up by 0.26% to $2.6791. A mixed start to the day saw EOS rise to an early morning high $2.6805 before falling to a low $2.6543.

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

For the day ahead

EOS would need to avoid a fall through the $2.6678 pivot level to support a run at the first major resistance level at $2.7143.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.7098.

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 $2.6678 would bring the first major support level at $2.6258 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.60 levels and the second major support level sits at $2.5793.

Looking at the Technical Indicators

First Major Support Level: $2.6258

First Major resistance Level: $2.7143

23.6% FIB Retracement Level: $

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen rose by 0.83% on Tuesday. Partially reversing a 2.28% slide from Monday, Stellar’s Lumen ended the day at $0.08182.

It was a bullish start to the day. Stellar’s Lumen rose from an early morning intraday low $0.081034 to an early afternoon intraday high $0.083193.

Falling short of the first major resistance level at $0.08395, Stellar’s Lumen fell back to wrap up the day at $0.0818 levels.

At the time of writing, Stellar’s Lumen was up by 0.11% to $0.08191. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.081536 before rising to a high $0.082023.

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 $0.08202 pivot to support a run at the first major resistance level at $0.08300.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.083 levels.

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

Failure to move back through the $0.08202 pivot level would bring the first major support level at $0.08084 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07986.

Looking at the Technical Indicators

First Major Support Level: $0.08084

First Major Resistance Level: $0.08300

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 1.40% on Tuesday. Reversing a 0.72% fall from Monday, Tron’s TRX ended the day at $0.027159.

It was a mixed start to the day. Tron’s TRX fell to a late morning intraday low $0.026518 before making a move.

Steering clear of the first major support level at $0.02617, Tron’s TRX rose to a late afternoon intraday high $0.027511.

Tron’s TRX broke through the first major resistance level at $0.02749 before falling back to sub-$0.027 levels.

Finding late support, however, Tron’s TRX moved back through to $0.027 levels to wrap up the day in the green.

At the time of writing, Tron’s TRX was down by 0.39% to $0.027053. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.026815 before rising to a high $0.027378.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to move back through the $0.02706 pivot level to support another run at the first major resistance level at $0.02761.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.027511.

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

Failure to move back through the $0.02706 pivot level would bring the first major support level at $0.02661 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.026 levels. The second major support level at $0.02607 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02661

First Major Resistance Level: $0.02761

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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