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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 16th, 2020

EOS

EOS fell by 1.54% on Sunday. Partially reversing 2.35% loss on Saturday, EOS ended the week down by 1.52% to $2.5002.

A mixed start to the day saw EOS rose to an early morning intraday high $2.5608 before hitting reverse.

Falling short of the first major resistance level at $2.6040, EOS fell to a late afternoon intraday low $2.4629.

The sell-off saw EOS fall the first major support level at $2.4834 before a late move back through to $2.50 levels.

At the time of writing, EOS was up by 0.01% to $2.5005. A mixed start to the day saw EOS fall to an early morning low $2.4829 before rising to a high $2.5043.

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

EOS/USD 16/11/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.5080 pivot level to support a run at the first major resistance level at $2.5530.

Support from the broader market would be needed, however, for EOS to break back through to $2.55 levels.

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

Failure to move through the pivot level at $2.5080 would bring the first major support level at $2.4551 back into play.

Barring an extended sell-off, however, EOS should steer of the second major support level at $2.4101.

Looking at the Technical Indicators

First Major Support Level: $2.4551

First Major resistance Level: $2.5530

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 fell by 1.33% on Sunday. Following on from a 1.69% decline on Saturday, Stellar’s Lumen ended the week down by 1.69% to $0.080092.

It was a bullish start to the day. Stellar’s Lumen rose to a mid-morning intraday high $0.082193 before hitting reverse.

Falling short of the first major resistance level at $0.08349, Stellar’s Lumen fell to a late intraday low $0.078909.

Stellar’s Lumen fell through the first major support level at $0.07968 before a late partial recovery to 0.080 levels.

At the time of writing, Stellar’s Lumen was down by 0.03% to $0.080068. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.080160 to a low $0.079500.

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

XLM/USD 16/11/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.08040 pivot to support a run at the first major resistance level at $0.08189.

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 and resistance at $0.082 would likely cap any upside.

Failure to move through the $0.08040 pivot level would bring the first major support level at $0.07860 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07711.

Looking at the Technical Indicators

First Major Support Level: $0.07860

First Major Resistance Level: $0.08189

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 1.18% on Sunday. Partially reversing a 1.55% loss from Saturday, Tron’s TRX ended the week flat at $0.025401.

It was another relatively choppy day. Tron’s TRX fell to an early morning low $0.02487 before making a move.

Steering clear of the first major support level at $0.02425, Tron’s TRX rose to an early afternoon intraday high $0.025919.

Falling short of the first major resistance level at $0.02699, Tron’s TRX slid to a late intraday low $0.024798.

Continuing to steer clear of the major support levels, Tron’s TRX bounced back to $0.0254 levels to end the day in the green.

At the time of writing, Tron’s TRX was up by 0.07% to $0.025418. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.024945 before rising to a high $0.025429

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

TRX/USD 16/11/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02540 pivot level to support another run at the first major resistance level at $0.02592.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0255 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.025919 would likely cap any upside.

Failure to avoid a fall back through the $0.02540 pivot level would bring the first major support level at $0.02487 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 $0.02435 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02487

First Major Resistance Level: $0.02592

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