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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 3rd, 2020

EOS

EOS rose by 1.30% on Wednesday. Partially reversing an 8.18% slide from Tuesday, EOS ended the day at $3.0609.

A bearish start to the day saw EOS fall to an early morning intraday low $2.9411 before making a move.

Steering clear of the first major support level at $2.8016, EOS rose to a late morning intraday high $3.1052.

Falling short of the first major resistance level at $3.2710, EOS fell back to sub-$3.00 levels and into the red.

Finding late support from the broader market, however, EOS moved back through to $3.00 levels to end the day in the green.

At the time of writing, EOS was up by 0.23% to $3.0679. A mixed start to the day saw EOS fall to an early morning low $3.0560 before striking a high $3.1063.

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

EOSUSD 031220 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $3.0357 pivot level to support a run at the first major resistance level at $3.1304.

Support from the broader market would be needed, however, for EOS to break back through to $3.10 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 $3.2 before any pullback. The second major resistance level sits at $3.1998.

Failure to avoid a fall through the pivot level at $3.0357 would bring the first major support level at $2.9663 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.90 levels. The second major support level sits at $2.8716.

Looking at the Technical Indicators

First Major Support Level: $2.9663

First Major resistance Level: $3.1304

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 rose by 0.90% on Wednesday. Following Tuesday’s 9.45% slide, Stellar’s Lumen ended the day at $0.18545.

A bearish start to the day saw Stellar’s Lumen fall to a mid-morning intraday low $0.1772 before making a move.

Steering clear of the first major support level at $0.1697, Stellar’s Lumen rose to a late morning intraday high $0.1882.

Falling short of the 62% FIB of $0.1989 and the first major resistance level at $0.2012, Stellar’s Lumen slid back to sub-$0.18 levels.

Finding late support, however, Stellar’s Lumen briefly moved back through to $0.185 levels to reverse losses from the day.

At the time of writing, Stellar’s Lumen was down by 0.47% to $0.18459. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.18832 before falling to a low $0.18843.

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

XLMUSD 031220 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.18362 pivot level to support a run at the first major resistance level at $0.19003.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.18832.

Barring an extended crypto rally, the first major resistance level and resistance at $0.19 would likely cap any upside.

In the event of another breakout, Stellar’s Lumen could test resistance at $0.1950 before any pullback. The second major resistance level sits at $0.19462.

Failure to avoid a fall through the pivot level at $0.18362 would bring the first major support level at $0.17903 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.17 levels. The second major support level at $0.17262 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.17903

First Major Resistance Level: $0.19003

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 3.69% on Wednesday. Partially reversing a 7.04% slide from Tuesday, Tron’s TRX ended the day at $0.031134.

It was a mixed start to the day. Tron’s TRX fell to an early morning intraday low $0.02954 before making a move.

In spite of the pullback, Tron’s TRX steered clear of the 23.6% FIB of $0.0291 and the first major support level at $0.02782.

Finding support through the morning, Tron’s TRX rose to a late morning intraday high $0.03115 before hitting reverse.

Falling short of the first major resistance level at $0.03347, Tron’s TRX fell back to a low $0.03025 before finding late support. A late move back through to $0.031 levels delivered the upside on the day.

At the time of writing, Tron’s TRX was down by 0.19% to $0.031063. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.031469 before falling to a low $0.031063.

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

TRXUSD 031220 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.03068 pivot level to support a run at the first major resistance level at $0.03181.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.03115.

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

In the event of another breakout, resistance at $0.032 would likely come into play. The second major resistance level sits at $0.03229.

Failure to avoid a fall through the $0.03068 pivot level would bring the first major support level at $0.03020 and the 23.6% FIB of 0.0291 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.029 levels. The 23.6% FIB and the second major support level at $0.02907 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.03020

First Major Resistance Level: $0.03181

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