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

EOS

EOS fell by 3.33% on Monday. Following on from a 0.49% decline on Sunday, EOS ended the day at $2.4347.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.5533 before hitting reverse.

Falling sort of the first major resistance level at $2.5691, EOS slid to an early afternoon intraday low $2.4083.

EOS fell the first major support level at $2.4579 before steadying. Steering clear of sub-$2.40 support levels, EOS briefly revisited $2.46 levels.

A bearish end to the day, however, saw EOS fall back through the first major support level to end the day at $2.43 levels.

At the time of writing, EOS was up by 0.12% to $2.4376. A mixed start to the day saw EOS fall to an early morning low $2.4210 before rising to a high $2.4443.

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

EOS/USD 03/11/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.4654 pivot level to support a run at the first major resistance level at $2.5226.

Support from the broader market would be needed, however, for EOS to break back through to $2.52 levels.

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

Failure to move through the pivot level at $2.4654 would bring the first major support level at $2.3776 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.35 levels and the second major support level at $2.3204.

Looking at the Technical Indicators

First Major Support Level: $2.3776

First Major resistance Level: $2.5226

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 3.82% on Monday. Reversing a 1.19% gain from Sunday, Stellar’s Lumen ended the day at $0.075672.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.079519 before hitting reverse.

Stellar’s Lumen broke through the first major resistance level at $0.07942 before sliding to a final hour intraday low $0.075417.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.07721 and the second major support level at $0.07574.

At the time of writing, Stellar’s Lumen was down by 0.04% to $0.075639. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.075233 before rising to a high $0.075743

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

XLM/USD 03/11/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.07687 pivot to support another run at the first major resistance level at $0.07832.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.078 levels.

Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $0.07687 pivot level would bring the first major support level at $0.07422 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07277.

Looking at the Technical Indicators

First Major Support Level: $0.07422

First Major Resistance Level: $0.07832

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 5.13% on Monday. Reversing a 0.26% gain from Sunday, Tron’s TRX ended the day at $0.024415.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.026044 before hitting reverse.

Falling short of the first major resistance level at $0.02623, Tron’s TRX slid to a mid-day intraday low $0.024193.

Tron’s TRX fell through the first major support level at $0.02543 and the second major support level at $0.02500.

Finding support at the third major support level at $0.02420 briefly revisited $0.02495 levels before easing back.

The second major support level at $0.025 pinned Tron’s TRX back in the 2nd half of the day.

At the time of writing, Tron’s TRX was down by 0.58% to $0.024272. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.024596 before falling to a low $0.023968.

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

TRX/USD 03/11/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.02488 pivot level to support a run at the first major resistance level at $0.02558.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.025 levels.

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

Failure to move through the $0.02488 pivot level would bring the first major support level at $0.02372 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.023 levels. The second major support level at $0.02303 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02372

First Major Resistance Level: $0.02558

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