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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 12th, 2020

EOS

EOS fell by 0.07% on Wednesday. Reversing a 0.02% gain from Tuesday, EOS ended the day at $2.5007.

It was a mixed start to the day. EOS rose to an early morning high $2.5415 before hitting reverse.

Coming up against the first major resistance level at $2.5403, EOS fell to a late morning low $2.4927.

Steering clear of the first major support level at $2.4672, EOS rallied to a late afternoon intraday high $2.5627.

EOS broke through the first major resistance level at $2.5403, before falling to a late intraday low $2.4825.

Continuing to steer clear of the first major support level, EOS briefly revisited $2.52 levels before falling back into the red.

At the time of writing, EOS was down by 0.44% to $2.4898. A mixed start to the day saw EOS rise to an early morning high $2.5123 before falling to a low $2.4414.

EOS fell through the first major support level at $2.4679 early on.

EOS/USD 12/11/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.5153 pivot level to support a run at the first major resistance level at $2.5481.

Support from the broader market would be needed, however, for EOS to break back through to $2.54 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $2.5627 would likely cap any upside.

Failure to move through the pivot level at $5481 would bring the first major support level at $2.4679 back into play.

Barring an extended sell-off, however, EOS should continue to steer of the second major support level at $2.4351.

Looking at the Technical Indicators

First Major Support Level: $2.4679

First Major resistance Level: $2.5481

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 0.94% on Wednesday. Reversing a 0.29% fall from Tuesday, Stellar’s Lumen ended the day at $0.080465.

It was a bullish start to the day. Stellar’s Lumen rallied from an early morning intraday low $0.079601 to an early morning high $0.081596.

Falling short of the first major resistance level at $0.08172, Stellar’s Lumen fell back to $0.080 levels before finding support.

A late afternoon rally saw Stellar’s Lumen break through the first major resistance level to strike an intraday high $0.082335.

The visit to $0.082 levels was brief, however. Stellar’s Lumen fell back through the first major resistance level to wrap up the day at $0.080 levels.

At the time of writing, Stellar’s Lumen was down by 0.49% to $0.08007. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.080534 before falling to a low $0.079491.

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

XLM/USD 12/11/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.08080 pivot to support a run at the first major resistance level at $0.08200.

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

Barring another broad-based crypto rally, the first major resistance level and Wednesday’s high $0.082335 would likely cap any upside.

Failure to move through the $0.08080 pivot level would bring the first major support level at $0.07927 back into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.07807.

Looking at the Technical Indicators

First Major Support Level: $0.07927

First Major Resistance Level: $0.08200

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 0.05% on Wednesday. Following on from a 0.39% gain on Tuesday, Tron’s TRX ended the day at $0.024976.

In spite of a relatively choppy day, Tron’s TRX rose to a late afternoon intraday high $0.025596 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.02542 before sliding to a late intraday low $0.024727.

Steering clear of the first major support level at $0.02432, Tron’s TRX revisited $0.025 levels before easing back.

At the time of writing, Tron’s TRX was up by 0.20% to $0.025027. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.025327 before falling to a low $0.024615.

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

TRX/USD 12/11/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move back through the $0.02510 pivot level to support another run at the first major resistance level at $0.02547.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0254 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.025596 would likely cap any upside.

Failure to move back through the $0.02510 pivot level would bring the first major support level at $0.02460 back into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.024 levels. The second major support level at $0.02423 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02460

First Major Resistance Level: $0.02547

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