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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 19th, 2020

EOS

EOS fell by 2.95% on Wednesday. Partially reversing a 5.15% rally from Tuesday, EOS ended the day at $2.6394.

A mixed start to the day saw EOS rise to an early morning intraday high $2.7722 before hitting reverse.

Falling short of the first major resistance level at $2.8107, EOS slid to an early morning intraday low $2.4390.

EOS fell through the first major support level at $2.6030 and the second major support level at $2.4868.

Finding support through the rest of the day, EOS moved back through the support levels to end the day at $2.63 levels.

At the time of writing, EOS was down by 0.70% to $2.6209 A mixed start to the day saw EOS rise to an early morning high $2.6498 before falling to a low $2.6030.

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

EOSUSD 191120 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the $2.6169 pivot level to support a run at the first major resistance level at $2.7947.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.7722.

Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, EOS could test resistance at $2.85 before any pullback. The second major resistance level sits at $2.9501.

Failure to avoid a fall back through the pivot level at $2.6169 would bring the first major support level at $2.4615 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.40 levels. The second major support level sits at $2.2837.

Looking at the Technical Indicators

First Major Support Level: $2.4615

First Major resistance Level: $2.7947

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 3.34% on Wednesday. Partially reversing a 4.80% rally from Tuesday, Stellar’s Lumen ended the day at $0.083670.

It was a mixed start to the day. Stellar’s Lumen rose to an early morning intraday high $0.08700 before hitting reverse.

Falling short of the first major resistance level at $0.08933, Stellar’s Lumen slid to a mid-afternoon intraday low $0.081789.

Stellar’s Lumen fell through the first major support level at $0.08303 before wrapping up the day at $0.0836 levels.

At the time of writing, Stellar’s Lumen was down by 0.28% to $0.083439. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.082913 before rising to a high $0.083839.

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

XLMUSD 191120 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.08415 pivot to support a run at the first major resistance level at $0.08652.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.086 levels.

Barring another broad-based crypto rally, the first major resistance level and Wednesday’s high $0.08700 would likely cap any upside.

In the event of another breakout, the second major resistance level at $0.08936 would likely come into play.

Failure to move through the $0.08415 pivot level would bring the first major support level at $0.08131 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of sub-$0.080 levels. The second major support level sits at $0.07894.

Looking at the Technical Indicators

First Major Support Level: $0.08131

First Major Resistance Level: $0.08652

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 1.26% on Wednesday. Following on from a 3.62% rally on Tuesday, Tron’s TRX ended the day at $0.026857.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.027429 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.02720 before sliding to an early morning intraday low $0.024649.

The reversal saw Tron’s TRX fall through the first major support level at $0.02562 and the second major support level at $0.02472.

Finding support through the second half of the day, however, Tron’s TRX broke back through to $0.027 levels to deliver the upside on the day.

At the time of writing, Tron’s TRX was down by 1.69% to $0.02640. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02733 before falling to a low $0.02568.

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

TRXUSD 191120 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02631 pivot level to support a run at the first major resistance level at $0.02797.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.027429.

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

In the event of another breakout, the second major resistance level at $0.02909 and the 23.6% FIB of $0.0291 would likely come into play.

Failure to avoid a fall back through the $0.02631 pivot level would bring the first major support level at $0.02519 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level sits at $0.02353.

Looking at the Technical Indicators

First Major Support Level: $0.02519

First Major Resistance Level: $0.02797

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