Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 2nd, 2020

EOS

EOS slid by 8.18% on Tuesday. Revising most of a 7.61% rally on Monday, EOS ended the day at $2.9940.

A mixed start to the day saw EOS rise to a late morning intraday high $3.3555 before hitting reverse.

Falling short of the first major resistance level at $3.3758, EOS slid to a mid-day intraday low $2.8861.

The sell-off saw EOS fall through the first major support level at $3.0721 before finding support.

Steering clear of the second major support level at $2.8819, EOS briefly revisited $3.18 levels before a 2nd sell-off.

EOS fell back through the first major support level to wrap up the day at sub-$3.0 levels.

At the time of writing, EOS was up by 1.77% to $3.0470. A mixed start to the day saw EOS fall to an early morning low $2.9411 before rising to a high $3.0509.

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

EOSUSD 021220 Hourly Chart

For the day ahead

EOS would need to move through the $3.0785 pivot level to support a run at the first major resistance level at $3.2710.

Support from the broader market would be needed, however, for EOS to break back through to $2.20 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of an extended rally, EOS could test resistance at $3.4 before any pullback. The second major resistance level sits at $3.5479.

Failure to move through the pivot level at $3.0785 would bring the first major support level at $2.8016 into play.

Barring another extended sell-off, however, EOS should steer of the second major support level at $2.6091.

Looking at the Technical Indicators

First Major Support Level: $2.8016

First Major resistance Level: $3.2710

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 9.45% on Tuesday. Reversing a 4.46% rise from Monday, Stellar’s Lumen ended the day at $0.18380.

Tracking the broader market, Stellar’s Lumen rose to a late morning intraday high $0.20450 before hitting reverse.

Falling short of the first major resistance level at $0.21024, Stellar’s Lumen slid to a mid-day intraday low $0.17304.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.19249 and the second major support level at $0.18200. Stellar’s Lumen also fell through the 62% FIB of $0.1989.

Finding support in the early afternoon, Stellar’s Lumen briefly revisited $0.194 levels before falling back into the deep red.

Stellar’s Lumen boke back through the second major support level and first major support level before falling back to sub-$0.19 levels.

At the time of writing, Stellar’s Lumen was up by 1.43% to $0.18643. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.17914 before rising to a high $0.18698.

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

XLMUSD 021220 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.18711 pivot level to support a run at the 62% FIB of $0.1989 and the first major resistance level at $0.20119.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.20 levels.

Barring an extended crypto rally, the second major resistance level and Tuesday’s high $0.2045 would likely cap any upside.

In the event of another breakout, Stellar’s Lumen could test resistance at $0.21 before any pullback. The second major resistance level sits at $0.21857.

Failure to move through the pivot level at $0.18711 would bring the first major support level at $0.16973 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.16 levels. The second major support level sits at $0.15565.

Looking at the Technical Indicators

First Major Support Level: $0.16973

First Major Resistance Level: $0.20119

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 7.04% on Tuesday. Reversing a 5.06% gain from Monday, Tron’s TRX ended the day at $0.030222.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.03433 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.03368 before sliding to a mid-day intraday low $0.02868.

The reversal saw Tron’s TRX fall through the first major support level to test support at the second major support level at $0.02871. Tron’s TRX also fell through the 23.6% FIB of $0.0291.

Finding support in the early afternoon Tron’s TRX briefly move back through to $0.031 levels before falling back to $0.029 levels.

While falling back through the first major support level, Tron’s TRX found support at the 23.6% FIB of $0.0291.  A late move back through to $0.030 levels limited the downside on the day.

At the time of writing, Tron’s TRX was up by 1.21% to $0.030589. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02954 before rising to a high $0.03060.

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

TRXUSD 021220 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.03108 pivot level to support a run at the first major resistance level at $0.03347.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.033 levels.

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

In the event of another breakout, resistance at $0.035 would likely come into play. The second major resistance level sits at $0.03673.

Failure to move through the $0.03108 pivot level would bring the 23.6% FIB and the first major support level at $0.02782 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.027 levels. The second major support level sits at $0.02543.

Looking at the Technical Indicators

First Major Support Level: $0.02782

First Major Resistance Level: $0.03347

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