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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 4th, 2020

EOS

EOS slid by 2.7% on Tuesday. Following on from a 3.33% decline on Monday, EOS ended the day at $2.3702.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.4505 before hitting reverse.

Falling sort of the first major resistance level at $2.5226, EOS slid to an early morning intraday low $2.2293.

EOS fell the first major support level at $2.3776 and the second major support level at $2.3204.

Finding support through the late morning, however, EOS recovered to $2.37 levels to limit the downside.

The first major support level at $2.3776 pinned EOS back in the 2nd half of the day.

At the time of writing, EOS was down by 1.29% to $2.3395. A mixed start to the day saw EOS rise to an early morning high $2.3784 before falling to a low $2.3251.

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

EOS/USD 04/11/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.3500 pivot level to support a run at the first major resistance level at $2.4707.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.4505.

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

Failure to move through the pivot level at $2.3500 would bring the first major support level at $2.2495 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.20 levels and the second major support level at $2.1288.

Looking at the Technical Indicators

First Major Support Level: $2.2495

First Major resistance Level: $2.4707

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 0.16% on Tuesday. Following on from a 3.82% slide on Monday, Stellar’s Lumen ended the day at $0.075476.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.076298 before hitting reverse.

Falling well short of the first major resistance level at $0.07832, Stellar’s Lumen slid to an early morning intraday low $0.073144.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.07422 before finding support.

Stellar’s Lumen briefly revisited $0.076 levels in the late morning before a 2nd sell-off. The reversal saw Stellar’s Lumen fall back through the first major support level before wrapping up the day at $0.0754 levels.

At the time of writing, Stellar’s Lumen was down by 0.74% to $0.074915. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.075664 before falling to a low $0.074494.

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

XLM/USD 04/11/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.07497 pivot to support a run at the first major resistance level at $0.07680.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.076 levels.

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

Failure to move through the $0.07497 pivot level would bring the first major support level at $0.07365 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07182.

Looking at the Technical Indicators

First Major Support Level: $0.07365

First Major Resistance Level: $0.07680

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 slipped by 0.05% on Tuesday. Following a 5.13% slide on Monday, Tron’s TRX ended the day at $0.02443.

It was a bearish start to the day. Tron’s TRX fell to an early morning intraday low $0.02290 before making a move.

The sell-off saw Tron’s TRX fall through the first major support level at $0.02372 and the second major support level at $0.02303.

Finding support through the late morning, Tron’s TRX rallied to an early afternoon intraday high $0.02464 before sliding back.

Falling well short of the first major resistance level at $0.02558, Tron’s TRX fell back to sub-$0.024 levels before finding late support.

Steering clear of the first major support level at $0.02372, Tron’s TRX moved back through to $0.0244 levels to limit the downside.

At the time of writing, Tron’s TRX was down by 1.37% to $0.024098. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.02461 to a low $0.02382.

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

TRX/USD 04/11/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.02399 pivot level to support a run at the first major resistance level at $0.02508.

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 avoid a fall through the $0.02399 pivot level would bring the first major support level at $0.02334 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.022 levels. The second major support level at $0.02225 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02334

First Major Resistance Level: $0.02508

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