EOS and Filecoin Lead the Market Downtrend With an 11% Drop

Key Insights:

  • EOS fell by more than 10% today to trade at $1.19.
  • Filecoin was one of the worst-performing coins today, falling by 15.2%.
  • Bitcoin and Ethereum remained unmoved, trading at $23k and $1.6k.

The crypto market is possibly cooling down after the weeks of the rally, which is why every altcoin is taking a hit as well. As long as this cooldown does not extend into a drawdown, the market will be fine.

As it is, Bitcoin and Ethereum haven’t declined by a lot anyways, trading at $23,002 and $1,637, respectively.

EOS Slips Back Down

Following the broader market bearish cues, EOS noted a downfall of 10.72% which resulted in the price falling to $1.19. This came after almost a month and a half long streak of the incline, where the altcoin had risen by 50.45%.

It still had room for growth until yesterday, but things changed today, leaving EOS in a tough spot.

The Parabolic SAR’s white dots changed their position to sit above the candlesticks, which indicates a downtrend has officially begun for the asset. This is the first time SAR has exhibited this, as it has been in a consistent uptrend for more than two weeks.

This is also backed by the appearance of the red bar on the Awesome Oscillator for the first time since July 14, which, if is continued over the next couple of days, EOS could be testing the lows of $1.

Filecoin Files Itself With the Bears

Down by 15.29% in 24 hours, Filecoin lost the possibility of breaching the $10 mark, which has been acting as resistance for FIL for more than two and a half months now.

This drop came after a week-long rally where the altcoin managed to shoot up by almost 87% and recover the June crash losses.

Now the next challenge for FIL is recovering from the 48.54% downfall observed in the week during the May crash, where FIL fell from almost $16 to $8.

The Bollinger Bands are still exhibiting bullishness in the case of FIL as the candlestick is placed above the basis of the indicator.

Although the diverging bands indicate a rise in volatility, the altcoin will be safe from negative price swings as long as the candlesticks stay put.

The Chaikin Money Flow also indicated outflows at the hands of investors, but since they have not been excessive yet, FIL will not face any drastic decrease in price.

Crypto Market Daily Highlights – SOL, ADA, and DOGE See Deep Red

Key Insights:

  • After two mixed sessions, the crypto top ten hit reverse on Friday, with Solana (SOL) leading the way down.
  • For the NASDAQ 100, a three-day winning streak ended, with weak economic indicators reigniting fears of an economic recession.
  • The total coin market cap slid by $20 billion to end the day at $1,009 billion.

It was a bearish Friday session for the crypto top ten. Bitcoin (BTC) gave up early gains to end the day at sub-$23,000, with Solana (SOL) and Cardano (ADA) seeing heavy losses.

US economic indicators weighed on riskier assets. In July, the services PMI slid from 52.7 to 47.0, according to prelim figures, reigniting fears of an economic recession. A PMI value below 50.0 indicates a sector contraction. Services account for more than 70% of the US economy.

The crypto news wires also weighed on bitcoin and the broader market. Investors struggled to shake off the news of Tesla Inc. (TSLA) selling off 75% of its bitcoin holding, with the latest SEC move against the crypto market also negative as the SEC v Ripple case drags on.

On Friday, the broader crypto market tracked the NASDAQ 100 into negative territory in response to the weak private sector PMIs.

The NASDAQ 100 fell by 1.87% to end the week up 3.45%, while the total crypto market cap increased by 8.36% to $1,009 billion, Monday to Friday.

NASDAQ correlation
Total Market Cap – NASDAQ – 230722 5 Min Chart

The Total Crypto Market Cap Tracks the NASDAQ into the Red

After a choppy start to the session, the total crypto market cap hit a Friday high of $1,058 billion before hitting reverse.

The reversal saw the coin market cap slide to a day low of $1,001 billion before steadying.

Having tracked the NASDAQ 100 into the red, crypto investors continued to close positions after the US closing bell.

Crypto market cap
Total Market Cap 230722 Daily Chart

Notable moves across the crypto top ten were an Ethereum return to sub-$1,600 and a BTC fall to sub-$23,000.

The Crypto Market Movers and Shakers from the Top Ten and Beyond

SOL slid by 5.98% to lead the way down, with ADA (-3.40%) and DOGE (-3.68%) also struggling.

BNB (-1.20%), BTC (-2.02%), ETH (-2.53%), and XRP (-2.40%) saw relatively modest losses.

From the CoinMarketCap top 100, it wasn’t all doom and gloom.

Bitcoin Gold (BTG), surged by 23.33% to lead the top 100, with EOS (EOS), Kusama (KSM), and NEO (NEO) also finding strong support.

Leading the way down, however, was THORChain (RUNE), which slid by 10.81%, with Synthetix (SNX), Arweave (AR), and Lido DAO (LDO) also struggling.

Total Crypto Liquidations Eased Back from a Session High

On Saturday, 24-hour liquidations were on the rise, though the liquidation numbers over short-time horizons suggested improving market conditions.

This morning, 24-hour liquidations stood at $207 million, up from $198 million on Friday while down from $338 million on Thursday.

Liquidated traders also fell over the last 24 hours. At the time of writing, liquidated traders stood at 62,274 versus 65,160 on Friday morning.

While 24-hour liquidations increased, one-hour liquidations were down from Friday.

crypto liquidations
Total Crypto Liquidations 230722

According to Coinglass, one-hour liquidations stood at $3.74 million, down from $4.10 million on Friday. Four-hour liquidations stood at $51.48 million, up from $33.04 million on Friday, aligned with the late crypto sell-off (see below).

Choppy finish
Total Market Cap 230722 Hourly Chart

Daily News Highlights

  • Ethereum co-founder Vitalik Buterin gave updates on the Ethereum network at the Annual Ethereum Community Conference.
  • The Fear & Greed Index held steady on Friday, despite the investor reaction to the Tesla news.
  • From the SEC v Ripple case, the Securities and Exchange Commission filed a request to appeal against the court ruling on the Hinman speech-related documents.
  • SEC Chair Gary Gensler targeted crypto lending shops, claiming jurisdiction.

Top 3 Trending Coins: ETH Surges Above $1,600, APE Eyes Recovery to $10

Key Points

  • Ethereum broke into the $1,600s on Friday amid “Merge” optimism, though has since backed off somewhat.
  • ApeCoin came close to testing $7 and is the best top 50 crypto performer of the last 24 hours.
  • EOS was earlier probing resistance at $1.18 and is the second-best top 50 performer.

Ethereum Breaks Above $1,600 With Bulls Still Targeting Test of $1,700 Resistance

After three days of consolidation following an early week burst higher, Ethereum was back on the front foot this Friday. The cryptocurrency was last changing hands a few bucks below the $1,600 level, up a little over 1.0% on the day according to CoinMarketCap. Admittedly, the cryptocurrency has succumbed to some modest profit-taking and backed off earlier session highs near $1,650.

Ethereum is currently on course to have risen nearly 19% this week, taking its gains since last Wednesday’s lows near $1,000 to nearly 60%. The latest surge higher saw Ethereum break above its 50-Day Moving Average around $1,310 and bulls still have their sights set on a test of the key long-term $1,700 resistance area. A break above here would open the door to a swift run higher towards $2,000.

ETH/USD
ETH/USD bulls continue to target test of $1,700 resistance. Source: FX Empire

Optimism about the upcoming “Merge”, which senior developers have tentatively scheduled for September, has been cited as a key driver of the recent rally, though an upturn in macro risk appetite that has given most cryptocurrencies a boost this week has also helped. As long as the Fed next week isn’t too hawkish and US corporate earnings remain broadly upbeat, there is no reason why macro sentiment can’t remain robust in the near future, and why Ethereum can’t continue higher.

Ethereum Co-founder Buterin Previews “Merge” and “Surge” at Paris EthCC

Ethereum co-founder Vitalik Buterin gave a talk on Thursday at the Ethereum Community Conference (EthCC) in Paris where he previewed his expectations for the upcoming “Merge” and following “Surge”. The “Merge” will see the Ethereum blockchain transition from an energy-intensive Proof-of-Work consensus mechanism to Proof-of-Stake by September, according to a tentative timeline recently laid out by senior developers.

According to Buterin, work on the transition to Proof-of-Stake, which some are referring to as Ethereum 2.0, is 90% complete. Meanwhile, Buterin explained that the “Surge” will see the Ethereum network updated to improve its scalability. “At the end of this road map… Ethereum will be able to process 100,000 transactions per second”, Buterin claimed. At present, the network can only manage up to around 30 transactions per second.

“Ethereum Killers” Will Fail, Says Blockdaemon’s Ethereum Ecosystem Head

The head of Blockdaemon’s Ethereum ecosystem Freddy Zwanzger told Cointelegraph during this week’s Ethereum Community Conference (EthCC) that he expects Ethereum to retain its position as the leading smart contract platform. “All the Ethereum killers from back in the day didn’t succeed, and I don’t expect them to succeed at all”, he added. Blockchain projects such as Cardano, Solana and Polkadot, are often referred to as so-called “Ethereum killers”.

Ethereum to be Deflationary Post-Merge

“ETH will become deflationary following the Merge, IntoTheBlock’s head of research Lucas Outumuro said on Twitter on Friday. According to Outumuro, the token’s net annual issuance will likely fall to between -0.5% to -4.5%, depending on network fees.

A reduction in ETH supply should theoretically boost its price in the long run, especially if the network’s mainstream adoption continues to grow in the years ahead.

ApeCoin (APE)

ApeCoin (APE) continues to trade with substantial gains on the week despite a recent pullback to the $6.50 area. It is up 30% and according to CoinMarketCap, the cryptocurrency is the best performer in the top 50 by market capitalization, having gained over 17.5% in the last 24 hours alone.

ApeCoin’s bull run this week began on Monday when it surged above a downtrend that had been capping the price action since late June and above resistance in the $5.20 to $5.70 area. It then consolidated on Tuesday and Wednesday on either side of $6, before powering higher on Thursday and into Friday towards $7. Bulls now have their sights set on a test of an area of support turned resistance around $7.50. Above that, there is very little to stop the cryptocurrency from surging back to $10 per token.

APE/USD
APE/USD to $10? Source: FX Empire

EOS (EOS)

EOS was finally able to break convincingly above its 50DMA (at $1.027) on Friday and was last trading higher by over 9.0% on the day near $1.15. The late May lows in the $1.18s have for now capped the upside, but this level will remain under scrutiny.

The cryptocurrency was last trading higher by about 13% in the last 24 hours, according to CoinMarketCap, making it the second best performing in the crypto top 50 by market cap. A break above $1.18 resistance could open the door to a swift rally back to $1.40. A break above that could open the door to a quick run higher to the next area of resistance in the mid-$1.80s.

EOS/USD
EOS/USD runs into resistance at $1.18. Source: FX Empire

Crypto Casino Stake.com Unfazed by Crypto Winter with Everton FC Deal

Key Insights:

  • This week, Australian crypto casino Stake.com signed a new deal with English Premier League side Everton Football Club.
  • Stake.com was unfazed by the adverse effects of the crypto winter on the broader crypto market, which has led to numerous exchanges cutting costs.
  • Several crypto exchanges are looking beyond cutting headcounts, with some revisiting sponsorship plans to reduce costs further.

The crypto market and sport have forged a strong partnership in recent years. At the forefront of evolution into sports is Dapper Labs (FLOW).

Behind the Flow blockchain, Dapper Labs has been a leading name in linking US sports franchises with digital assets.

In 2020, Dapper Labs partnered with the US National Basketball Association to launch the NBA NFT marketplace Top Shot. The launch followed a partnership with the National Football League (NFL) that culminated in the launch of the NFT marketplace NFLALLDAY.

Since then, crypto exchanges have also embraced the world of sport. Sports gives crypto platforms access to an untapped customer base in more prosperous regions, including North America and Europe.

In recent months, however, the crypto winter has impacted the cash flow of several prominent exchanges. Reports of reducing workforces have added to the gloomy mood.

However, it isn’t all doom and gloom, with several crypto-linked companies seeing the crypto winter as an opportunity.

Stake.com Expands Its Bandwidth with Everton FC Sponsorship Deal

This week, the Sydney Morning Herald reported news of Australia-founded crypto casino Stake.com signing a new sponsorship deal with Everton FC.

According to reports, Stake.com signed a multi-year deal with the English Premier League side, who lost its previous shirt sponsor due to Russian sanctions.

The deal is reportedly the “highest value front-of-shirt deal in the Club’s 144-year history.”

It is not the casino’s first foray into English football.

Stake.com is also the main sponsor of Watford Football Club. The platform committed to its second year as the official sponsor despite relegation to the Championship.

Stake.com also has sponsorship deals with individuals, including hip-hop star Drake and other sporting franchises. Franchises include Boxing Japan and Rugby League Brazil.

Established in 2017, Stake.com has become one of the leading casino and sports betting platforms for cryptocurrencies, including bitcoin (BTC), Dogecoin (DOGE), EOS (EOS), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tron (TRX).

The latest sponsorship deal, however, comes at a tumultuous time for crypto exchanges.

In recent weeks, numerous crypto exchanges announced workforce reductions, with some looking beyond payrolls to reduce costs.

Crypto Platforms Drop Sports Sponsorship Deals As Crypto Winter Bites

While some platforms are ever-expanding into the world of sport, others are tightening their belts.

According to the New York Post, leading crypto exchange FTX reportedly pulled out of a multi-million dollar deal with the Major Baseball League’s Los Angeles Angels.

FTX had been particularly active in the sports world before hitting the brakes.

In February, FTX joined the leading crypto exchanges in the Superbowl LVI half-time show. FTX reportedly paid $6.5 million for a 30-second ad, with Crypto.com, eToro, and Coinbase also paying for airtime at the half-time show.

Another unnamed exchange recently pulled out of a deal with the NBA’s Washington Wizards.

The marked shift in the landscape places an even greater emphasis on Stake.com and its unwavering appetite to access an untapped customer base through sport.

ICO Market Revival Imminent in Crypto-Friendly South Korean

Key Insights:

  • This week, the Initial Coin Market (ICO) got a boost from news of fresh crypto reforms.
  • In 2017, the South Korean government introduced an outright ban on ICOs.
  • South Korean President-Elect Yoon Suk-yeol has big plans for the digital asset space.

Initial coin offerings (ICO) are back in the South Korean news headlines. A South Korean ICO ban has been in effect since 2017.

This year, the South Korean Presidential Election threw digital assets into the mix. In March, President-Elect Yoon targeted young voters by minting NFTs on the AERGO blockchain, each with a price tag of 50,000 Korean Won.

Since Yoon’s election victory, the South Korean government is revisiting other areas of the digital asset space to drive innovation.

South Korean Government Plans Lifting of the 2017 ICO Ban

This week, South Korea’s Presidential Transition Committee introduced a new crypto framework. To support innovation and growth in the digital asset space, the Digital Asset Framework Act looks to drive investor trust and growth.

According to the report, the government plans to introduce two categories, security and non-security ICOs.

In November 2021, FX Empire reported a possible lifting of South Korea’s ban on ICOs that has been in effect since 2017.

According to the report, Do Gyu-sang, vice chairman of South Korea’s Financial Services Commission (FSC) argued that,

“ICOs need a reexamination according to the applicable financial reporting requirements.”

Do reportedly added,

“We cannot delay the ICO any longer. (ICO) must be included in the Capital Market Act. To do that, we need to revisit some provisions and look at the relationship with the (Virtual Industrial Rights Act) enactment or special law.”

The news coincided with South Korea planning the implementation of a 20% tax on crypto capital gains of more than 2.5 million won.

In September 2017, South Korea introduced an outright ban on initial coin offerings (ICO). At the time, the ban was big news. Initial coin offerings were the primary avenue for crypto startups to raise funds.

In the heydays of the ICO market, cybercriminals marred an effective way for legitimate startups to raise capital.

ICOs were attractive for startups as they removed the involvement of intermediaries. Investors could purchase native coins at a discount.

For the South Korean government and even the Chinese government, which introduced a ban before South Korea, the rise in scams was of greater concern.

With Yoon’s inauguration on Tuesday, May 10, there has also been chatter on the crypto capital gains tax.

South Korea Plans to Delay Introduction of Punitive Crypto Tax

In November, Reuters reported a delay of South Korea’s crypto tax by one year to January 2023. The National Assembly reportedly passed a bill to delay the capital gains tax from crypto trading by one year.

There is also news of the South Korean government planning to further delay the crypto tax.

A reopening of the ICO market and the removal of a 20% crypto capital gains tax would place South Korea in the mix to become a hub for digital assets and innovation. Other jurisdictions have taken more constrictive measures that may need revisiting.

Amongst the most successful ICOs, by highest Return on Investment (ROI), are Cardano (ADA), EOS (EOS), Ethereum (ETH), and NEO (NEO). The ICO price for ETH was just $0.311 compared to the current price of $2,669.

Major UK Law Firm To Accept Crypto Payments for Legal Services

A major UK law firm announced that it would start accepting payments in cryptocurrencies for the legal services offered within the company.

Gunnercooke claimed that it became the first British legal firm to accept cryptos as a means of payments, thanks to the partnership with Coinpass, a UK-based crypto exchange.

The crypto company is known for having announced on November 2021 that it will support Dogecoin (DOGE), EOS, Tezos (XTZ), Uniswap (UNI), and Cardano (ADA).

Crypto Assets Accepted by Coinpass

In addition to these digital assets, Gunnercooke could accept payments in Bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Polkadot (DOT), Chainlink (LINK), and Stellar (XLM).

“We’re delighted to announce that we are now the first major UK law firm to accept payment in cryptoassets officially. We’ve partnered with Coinpass to make the exchanges and have now accepted our first payment from client Attestant,” Gunnercooke said in a tweet, where it disclosed the name of its first client in using the service.

Sling TV Becomes Crypto

More businesses in different sectors keep joining the crypto bandwagon amid a growing adoption. For example, as FXEmpire reported recently, crypto service provider BitPay has partnered with Sling TV to accept crypto payments. This allows users to pay for Sling TV services using cryptocurrency.

In the United States, there are over 2 million subscribers to Dish Network’s Sling TV service.

Since new subscribers must sign up for the service using American dollars, the crypto option would only be available to existing users. Users can use cryptocurrency for subsequent renewals.

Furthermore, crypto payments cannot be automated at the moment. As a result, they’ll have to repay every time the existing one expires manually.

On the other hand, prepayments can be made manually for one to six months, so users need not renew every month if they don’t want to.

Croatia’s Largest Food Retailer Konzum Now Accepts BTC and ETH

Cryptocurrencies have been gaining adoption in various sectors of the global economy in recent years. In the past two years, numerous retailers have added cryptocurrencies to their payment options as they look to attract more customers to their stores.

Konzum Now Accepts Crypto for its Online Store

Konzum, the largest food retailer in Croatia, has become the latest retailer to accept cryptocurrencies as a means of payment. Following this latest development, Konzum has become the first major retail chain in Croatia to adopt cryptocurrencies as payment options.

The retailer said it would accept Bitcoin, Ether, Bitcoin Cash, Tether (USDT), USDC, EOS, XRP, DAI and Stellar Lumen as payment options on its online store. Konzum partnered with Electrocoin, a domestic fintech company, and its payment processor, PayCek, to enable it to accept cryptocurrency payments on its platform. At the moment, the crypto payment option is only available in the online store.

One of the biggest challenges with cryptocurrencies as means of payment is the price volatility of the coins. However, according to the report, PayCek will ensure customers enjoy a fixed exchange rate, as well as supply enough time for successful execution. This will ensure that volatility is not an issue when customers use cryptocurrencies to pay for products at Konzum.

Konzum is the largest food retailer in Croatia, and adopting cryptocurrencies is a big plus for the industry. More retailers and businesses in Croatia could start accepting cryptocurrencies following Konzum’s footsteps.

More Retailers are Adopting Cryptocurrencies

An increasing number of retailers are adopting cryptocurrencies as a means of payment. Tech-focused California e-retailer, Newegg, announced a few days ago that it would accept Shiba Inu (SHIB) tokens in the coming Christmas holidays. The retailer added Dogecoin (DOGE) and Litecoin (LTC) to the list of coins it will accept.

Nothing, a London-based consumer technology company, also revealed that it would allow cryptocurrency settlements for its newest product. Other major brands that currently accept cryptocurrencies include Overstock, KFC Canada, Subway, Twitch, Pizza Hut Venezuela and a wide range of others.

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 2nd, 2021

EOS

EOS fell by 0.28% on Monday. Following a 3.64% gain on Sunday, EOS ended the day at $4.6320.

A bullish start to the day saw EOS rise to an early morning intraday high $4.7226 before hitting reverse.

Falling short of the first major resistance level at $4.7946, EOS slid to an early morning intraday low $4.4642.

EOS fell through the first major support level at $4.4710 before briefly revisiting $4.70 levels.

A late pullback, however, saw EOS fall back to sub-$4.65 levels and into the red.

At the time of writing, EOS was down by 0.39% to $4.6141. A mixed start to the day saw EOS fall to an early morning low $4.5623 before rising to a high $4.6965.

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

EOSUSD 021121 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the $4.6063 pivot to bring the first major resistance level at $4.7483 into play.

Support from the broader market would be needed to break out from Monday’s high $4.7226.

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

In the event of an extended rally, EOS could test resistance at $5.00 levels before any pullback. The second major resistance level sits at $4.8647.

A fall back through the $4.6063 pivot would bring the first major support level at $4.4899 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.40 levels. The second major support level sits at $4.3479.

Looking at the Technical Indicators

First Major Support Level: $4.4899

First Major resistance Level: $4.7483

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 1.82% on Monday. Partially reversing a 4.04% rally from Sunday, Stellar’s Lumen ended the day at $0.3663.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3759 before hitting reverse.

Falling short of the first major resistance level at $0.3759, Stellar’s Lumen slid to an early morning intraday low $0.3577.

Steering clear of the first major support level at $0.3569, however, Stellar’s Lumen revisited $0.37 levels before falling back into the red.

At the time of writing, Stellar’s Lumen was up by 0.08% to 0.3675. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3684 before falling to a low $0.3631.

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

XLMUSD 021121 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.3666 pivot to bring the first major resistance level at $0.3756 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.37 levels.

Barring an extended rally, the first major resistance level and Monday’s high $0.3759 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.3848.

A fall back through the $0.3666 pivot would bring the first major support level at $0.3574 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3484 and the 23.6% FIB of $0.3402.

Looking at the Technical Indicators

First Major Support Level: $0.3574

First Major Resistance Level: $0.3756

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 1.24% on Monday. Following a 0.30% loss on Sunday, Tron’s TRX ended the day at $0.09995.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.09762 before making a move.

Tron’s TRX fell through the 38.2% FIB of $0.09890 and the first major support level at $0.09802.

Steering clear of sub-$0.097 levels, however, Tron’s TRX rose to a late morning intraday high $0.1020.

Falling short of the first major resistance level at $0.1036, however, Tron’s TRX fell back to end the day at sub-$0.10 levels.

At the time of writing, Tron’s TRX was up by 0.70% to $0.1007. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1023 before falling to a low $0.09889.

While leaving the major support and resistance levels untested, Tron’s TRX tested support at the 38.2% FIB of $0.09890 early on.

TRXUSD 021121 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.09986 pivot to bring the first major resistance level at $0.1021 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.1020.

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

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.1050 levels before any pullback. The second major resistance level sits at $0.1042.

A fall back through the $0.09986 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09771 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.09548.

Looking at the Technical Indicators

First Major Support Level: $0.09771

First Major Resistance Level: $0.1021

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 1st, 2021

EOS

EOS rose by 3.64% on Sunday. Reversing a 0.47% decline from Saturday, EOS ended the week down by 2.30% to $4.6448.

A bullish start to the day saw EOS rise to an early morning intraday high $4.7706 before hitting reverse.

EOS broke through the first major resistance level at $4.5528 and the second major resistance level at $4.6241.

The reversal, however, saw EOS slide to an early afternoon intraday low $4.4470.

Steering clear of the first major support level at $4.3809, EOS broke back through the first major resistance level to end the day at $4.6 levels.

At the time of writing, EOS was up by 1.01% to $4.6916. A mixed start to the day saw EOS fall to an early morning low $4.5951 before rising to a high $4.7226.

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

EOSUSD 011121 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the $4.6208 pivot to bring the first major resistance level at $4.7946 into play.

Support from the broader market would be needed to break out from Sunday’s high $4.7706.

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

In the event of an extended rally, EOS could test resistance at $5.00 levels before any pullback. The second major resistance level sits at $4.9444.

A fall back through the $4.6208 pivot would bring the first major support level at $4.4710 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$4.40 levels. The second major support level sits at $4.2972.

Looking at the Technical Indicators

First Major Support Level: $4.4710

First Major resistance Level: $4.7946

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 4.04% on Sunday. Reversing a 1.02% decline from Saturday, Stellar’s Lumen ended the week up by 0.28% to $0.3732.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3571 before making a move.

Steering clear of the first major support level at $0.3516, Stellar’s Lumen rallied to a mid-morning intraday high $0.3900.

Stellar’s Lumen broke through the day’s major resistance levels before a slide back to sub-$0.365 levels.

Finding support at the first major resistance level at $0.3656, Stellar’s Lumen broke back through the second major resistance level to end the day at $0.373 levels.

At the time of writing, Stellar’s Lumen was up by 0.25% to $0.3741. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3694 before rising to a high $0.3749.

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

XLMUSD 011121 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.3734 pivot to bring the first major resistance level at $0.3898 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.38 levels.

Barring an extended rally, the first major resistance level and Sunday’s high $0.3900 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.4063.

A fall back through the $0.3734 pivot would bring the first major support level at $0.3569 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level sits at $0.3405 and the 23.6% FIB of $0.3402.

Looking at the Technical Indicators

First Major Support Level: $0.3569

First Major Resistance Level: $0.3898

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 0.30% on Sunday. Partially reversing a 1.86% gain from Saturday, Tron’s TRX ended the week up by 2.03% to $0.1012.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.1029 before hitting reverse.

Falling short of the first major resistance level at $0.1053, Tron’s TRX fell to an early afternoon intraday low $0.09728.

Tron’s TRX fell through the 38.2% FIB of $0.09890 and the first major support level at $0.09754.

Finding mid-afternoon support, Tron’s TRX revisited $0.1021 levels before easing back.

At the time of writing, Tron’s TRX was up by 0.41% to $0.1017. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1006 before rising to a high $0.1023.

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

TRXUSD 011121 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid the $0.1005 pivot to bring the first major resistance level at $0.1036 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday’s high $0.1029.

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

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1061.

A fall through the $0.1005 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09802 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.09484.

Looking at the Technical Indicators

First Major Support Level: $0.09802

First Major Resistance Level: $0.1036

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 28th, 2021

EOS

EOS tumbled by 12.00% on Wednesday. Following a 2.01% loss on Tuesday, EOS ended the day at $4.1516.

A bullish start to the day saw EOS rise to an early morning intraday high $4.7788 before hitting reverse.

Falling short of the first major resistance level at $4.8810, EOS tumbled to a late morning intraday low $3.8730.

The extended sell-off saw EOS fall through the day’s major support levels before finding late morning support.

EOS briefly broke back through the third major support level at $4.2160 before ending the day at sub-$4.20 levels.

At the time of writing, EOS was up by 1.17% to $4.2001. A mixed start to the day saw EOS fall to an early morning low $4.1518 before rising to a high $4.2399.

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

EOSUSD 281021 Hourly Chart

For the day ahead

EOS would need to move through the $4.2678 pivot to bring the first major resistance level at $4.6626 into play.

Support from the broader market would be needed to break out from $4.50 levels.

Barring a broad-based crypto rally, the first major resistance and Wednesday’s high $4.7788 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $5.00 levels before any pullback. The second major resistance level sits at $5.1736.

Failure to move through the $4.2678 pivot would bring the first major support level at $3.7568 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.70 levels. The second major support level sits at $3.3620.

Looking at the Technical Indicators

First Major Support Level: $3.7568

First Major resistance Level: $4.6626

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 11.52% on Wednesday. Following a 3.81% fall on Tuesday, Stellar’s Lumen ended the day at $0.3304.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3755 before hitting reverse.

Falling short of the first major resistance level at $0.3850, Stellar’s Lumen slumped to a late morning intraday low $0.3125.

The sell-off saw Stellar’s Lumen fall through the day’s major support levels and the 23.6% FIB of $0.3402.

Steering clear of sub-$0.30 levels, Stellar’s Lumen briefly broke back through the third major support level at $0.3372 before ending the day at sub-$0.3310 levels.

At the time of writing, Stellar’s Lumen was down by 0.03% to $0.3303. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3297 before rising to a high $0.3323.

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

XLMUSD 281021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3395 pivot and the 23.6% FIB of $0.3402 to bring the first major resistance level at $0.3664 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.36 levels.

Barring an extended rally, the first major resistance level and Wednesday’s high $0.3755 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.4025.

Failure to move through the $0.3395 pivot would bring the first major support level at $0.3034 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level sits at $0.2765.

Looking at the Technical Indicators

First Major Support Level: $0.3034

First Major Resistance Level: $0.3664

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX slid by 10.62% on Wednesday. Reversing a 1.00% gain from Tuesday, Tron’s TRX ended the day at $0.09063.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.1032 before hitting reverse.

Falling short of the first major resistance level at $0.1050, Tron’s TRX slumped to a late morning intraday low $0.08835.

Tron’s TRX fell through the 38.2% FIB of $0.09890 and the day’s major support levels.

Finding late morning support, Tron’s TRX broke back through the third major support level at $0.09008 to end the day at $0.0906 levels.

At the time of writing, Tron’s TRX was up by 1.06% to $0.09160. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09064 before rising to a high $0.09245.

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

TRXUSD 281021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.09406 pivot and the 38.2% FIB of $0.09890 to bring the first major resistance level at $0.09977 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.099 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.1032 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1089.

Failure to move through the $0.09406 pivot would bring the first major support level at $0.08492 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.07921.

Looking at the Technical Indicators

First Major Support Level: $0.08492

First Major Resistance Level: $0.09977

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 27th, 2021

EOS

EOS fell by 2.01% on Tuesday. Reversing a 1.24% gain from Monday, EOS ended the day at $4.7170.

A bullish start to the day saw EOS rise to a mid-morning intraday high $4.9326 before hitting reverse.

EOS broke through the first major resistance level at $4.8721 and the second major resistance level at $4.9307.

Falling short of $5.00 levels, however, EOS slid to a late intraday low $4.6563.

The reversal saw EOS fall through the first major support level at $4.7343 to end the day at $4.71 levels.

At the time of writing, EOS was up by 0.08% to $4.7207. A mixed start to the day saw EOS fall to an early morning low $4.6865 before rising to a high $4.7390.

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

EOSUSD 271021 Hourly Chart

For the day ahead

EOS would need to move through the $4.7686 pivot to bring the first major resistance level at $4.8810 into play.

Support from the broader market would be needed to break back through to $4.80 levels.

Barring a broad-based crypto rally, the first major resistance and Tuesday’s high $4.9326 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $5.10 levels before any pullback. The second major resistance level sits at $5.0449.

Failure to move through the $4.7686 pivot would bring the first major support level at $4.6047 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.50 levels. The second major support level at $4.4923 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4.6047

First Major resistance Level: $4.8810

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 3.81% on Tuesday. Partially reversing a 4.30% rally from Monday, Stellar’s Lumen ended the day at $0.3733.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3885 before hitting reverse.

Falling short of the first major resistance level at $0.3939, Stellar’s Lumen slid to a late intraday low $0.3687.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.3764 to end the day at $0.373 levels.

At the time of writing, Stellar’s Lumen was down by 0.03% to $0.3732. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3709 before rising to a high $0.3738.

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

XLMUSD 271021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3768 pivot to bring the first major resistance level at $0.3850 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.38 levels.

Barring an extended rally, the first major resistance level and Tuesday’s high $0.3885 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.3966.

Failure to move through the $0.3768 pivot would bring the first major support level at $0.3652 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the 23.6% FIB of $0.3402. The second major support level at $0.3570 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3652

First Major Resistance Level: $0.3850

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 1.00% on Tuesday. Following a 1.08% gain on Monday, Tron’s TRX ended the day at $0.1013.

A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09995 before making a move.

Steering clear of the 38.2% FIB of $0.09890 and the first major support level at $0.09845, Tron’s TRX rallied to a late morning intraday high $0.1061.

Tron’s TRX broke through the first major resistance level at $0.1020 before sliding to a late intraday low $0.09992.

Continuing to steer clear of the major support levels, Tron’s TRX broke back through to $0.1013 levels to end the day in the green.

At the time of writing, Tron’s TRX was up by 0.59% to $0.1019. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1003 before rising to a high $0.1021.

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

TRXUSD 271021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.1024 pivot to bring the first major resistance level at $0.1050 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.1030 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.1061 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1086.

Failure to move through the $0.1024 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09878 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.095 levels. The second major support level at $0.09626 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.09878

First Major Resistance Level: $0.1050

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 26th, 2021

EOS

EOS rose by 1.24% on Monday. Following a 0.19% gain on Sunday, EOS ended the day at $4.8136.

A mixed start to the day saw EOS fall to an early morning intraday low $4.7136 before making a move.

Steering clear of the first major support level at $4.5806, EOS rose to a late morning intraday high $4.8514.

Falling short of the first major resistance level at $5.0057, however, EOS fell back to sub-$4.80 levels before finding late support.

At the time of writing, EOS was up by 0.81% to $4.8527. A mixed start to the day saw EOS fall to an early morning low $4.7903 before rising to a high $4.8527.

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

EOSUSD 261021 Hourly Chart

For the day ahead

EOS would need to avoid the $4.7929 pivot to bring the first major resistance level at $4.8721 into play.

Support from the broader market would be needed to break out from $4.85 levels.

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

In the event of an extended rally, EOS could test resistance at $5.00 levels before any pullback. The second major resistance level sits at $4.9307.

A fall through the $4.7929 pivot would bring the first major support level at $4.7343 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.50 levels. The second major support level at $4.6551 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4.7343

First Major resistance Level: $4.8721

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 rallied by 4.30% on Monday. Reversing a 1.53% loss from Sunday, Stellar’s Lumen ended the day at $0.3880.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3707 before making a move.

Steering clear of the first major support level at $0.3635, Stellar’s Lumen rallied to a late intraday high $0.3882.

Stellar’s Lumen broke through the first major resistance level at $0.3837 to end the day at $0.388 levels.

At the time of writing, Stellar’s Lumen was down by 0.49% to $0.3861. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3885 before falling to a low $0.3840.

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

XLMUSD 261021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid the $0.3823 pivot to bring the first major resistance level at $0.3939 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.3885.

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

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.3998.

A fall through the $0.3823 pivot would bring the first major support level at $0.3764 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the 23.6% FIB of $0.3402. The second major support level at $0.3648 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3764

First Major Resistance Level: $0.3939

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 1.08% on Monday. Partially reversing a 1.36% decline from Sunday, Tron’s TRX ended the day at $0.1003.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.09828 before making a move.

While steering clear of the first major support level at $0.09677, Tron’s TRX fell through the 38.2% FIB of $0.09890.

Finding early morning support, however, Tron’s TRX rallied to a late morning intraday high $0.1018.

Coming up against the first major resistance level at $0.1018, Tron’s TRX slid back to sub-$0.10 levels before finding support.

Through the afternoon, Tron’s TRX revisited $0.1018 levels before easing back. The first major resistance level pegged Tron’s TRX back once more.

At the time of writing, Tron’s TRX was up by 0.91% to $0.1012. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1014 before falling to a low $0.09995.

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

TRXUSD 261021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.1001 pivot to bring the first major resistance level at $0.1020 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.1018.

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

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.1050 levels before any pullback. The second major resistance level sits at $0.1037.

A fall back through the $0.1001 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09845 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.095 levels. The second major support level at $0.09661 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.09845

First Major Resistance Level: $0.1020

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 25th, 2021

EOS

EOS rose by 0.19% on Sunday. Following a 2.75% gain on Saturday, EOS ended the week up by 7.61% to $4.7544.

A bullish start to the day saw EOS rally to a late morning intraday high $5.0832 before hitting reverse.

EOS broke through the first major resistance level at $4.8254 and the second major resistance level at $4.9048.

The reversal, however, saw EOS slide to a late afternoon intraday low $4.6581.

Steering clear of the first major support level at $4.6206, EOS revisited $4.77 levels before easing back.

At the time of writing, EOS was down by 0.19% to $4.7454. A mixed start to the day saw EOS fall to an early morning low $4.7136 before rising to a high $4.7670.

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

EOSUSD 251021 Hourly Chart

For the day ahead

EOS would need to move through the $4.8319 pivot to bring the first major resistance level at $5.0057 into play.

Support from the broader market would be needed to break out from $4.85 levels.

Barring a broad-based crypto rally, the first major resistance and Sunday’s high $5.0832 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $5.30 levels before any pullback. The third major resistance level sits at $5.2570.

Failure to move through the $4.8319 pivot would bring the first major support level at $4.5806 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.50 levels. The second major support level sits at $4.4068.

Looking at the Technical Indicators

First Major Support Level: $4.5806

First Major resistance Level: $5.0057

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 1.53% on Sunday. Reversing a 1.53% gain from Sunday, Stellar’s Lumen ended the week down by 2.96% to $0.3722.

A bullish start to the day saw Stellar’s Lumen rally to a late morning intraday high $0.3866 before hitting reverse.

Stellar’s Lumen broke through the first major resistance level at $0.3813 and the second major resistance level at $0.3845.

The reversal, however, saw Stellar’s Lumen fall to a late afternoon intraday low $0.3664.

Stellar’s Lumen fell through the first major support level at $0.3714 before a partial recovery to end the day at $0.372 levels.

At the time of writing, Stellar’s Lumen was up by 0.83% to $0.3749. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3707 before rising to a high $0.3749.

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

XLMUSD 251021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3751 pivot to bring the first major resistance level at $0.3837 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.38 levels.

Barring an extended rally, the first major resistance level and Sunday’s high $0.3866 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.3953.

Failure to move through the $0.3751 pivot would bring the first major support level at $0.3635 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the 23.6% FIB of $0.3402. The second major support level at $0.3549 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3635

First Major Resistance Level: $0.3837

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 1.36% on Sunday. Reversing a 0.50% gain from Saturday, Tron’s TRX ended the week up by 0.16% to $0.09923.

A mixed start to the day saw Tron’s TRX rise to a late morning intraday high $0.1019 before hitting reverse.

Falling short of the first major resistance level at $0.1022, Tron’s TRX slid to a late afternoon intraday low $0.09687.

Tron’s TRX fell through the 38.2% FIB of $0.09890 and the first major support level at $0.09848.

Finding late support, however, Tron’s TRX broke back through the first major resistance level and the 38.2% FIB to end the day at $0.099 levels.

At the time of writing, Tron’s TRX was down by 0.39% to $0.09884. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09828 before rising to a high $0.09963.

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

TRXUSD 251021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move back through the $0.09933 pivot to bring the first major resistance level at $0.1018 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.10 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.1019 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.1050 levels before any pullback. The second major resistance level sits at $0.1044.

Failure to move back through the $0.09933 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09677 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.095 levels. The second major support level sits at $0.09430.

Looking at the Technical Indicators

First Major Support Level: $0.09677

First Major Resistance Level: $0.1018

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

Direct Cryptocurrency Payments Will Serve as a Boost for the Financial Industry

According to research conducted by the Capgemini Research Institute, nearly 45% of customers around the world will use cryptocurrencies for payments within the next 1-2 years, due to the growing need for cross-border payments. At the moment, less than 10% of global consumers use cryptocurrencies for payments.

While the legal status of cryptocurrencies varies from country to country, the fact that they can be recognized as legal tender (as El Salvador’s example demonstrates) shows that there is a place for them to be found in payments and that people can also use them to conduct their purchases.

While Bitcoin is not the best crypto asset for payments going forward, there are other options available which can be used for payments. Assets with lightning-quick transaction speeds, like Ripple, Solana, EOS, Neo, Cardano and Ethereum (following the rollout of Ethereum 2.0), for example.

Advantages of crypto payments

We have already seen El Salvador implement Bitcoin as a legal tender. Its advantages include censorship-resistance, quick and cheap payments and an anti-inflationary system. Only time will tell if El Salvador’s move bears fruit. If it does, we could see other countries follow suit. It must be noted that Bitcoin’s initial goal was to be used for payments – its current appeal is more as an investment instrument but this could soon change.

When it comes to payments, efficiency is a priority. A cross-border payment in crypto can take minutes, or even seconds to clear – as opposed to several days of clearance time (potentially) with fiat transfers. Currently, payments platforms and financial institutions charge colossal fees for international transactions and take significant time to process.

In today’s increasingly digital age, speed is of the essence when it comes to the completion of any task, of course in a streamlined manner. Needless to say, the integration of crypto assets into global finance will make local and international payments easy. Also, functionalities can be built into crypto transactions in the form of smart contracts.

For example, you could send pocket money to your child who is studying overseas and program the money to not be spent on junk food. Automation of payments based on pre-fixed conditions is also a possibility. Of course, the security that comes with blockchain technology is another advantage of incorporating crypto payments globally.

With a market cap of $2.5 trillion at the time of writing, crypto tokens have become an asset class in their own right, and the gap between the crypto and fiat spheres is gradually closing.

What is the future for this sector?

We are approaching a future where cross-border payments can be completed with a single, quick crypto transaction. The real benefit of crypto payments is being able to use cryptocurrencies in our day-to-day lives. While receiving payment in crypto and converting to fiat is still a quick process, the fees get piled on – convenience and savings hold key importance here.

The future for this sector is indeed bright but we need businesses all over the world to accept crypto payments to harness their true potential. We need a digital world where crypto payments for all kinds of goods can be made with a single click. At the moment, over 15,000 businesses globally accept crypto payments. These include Microsoft, PayPal, Overstock, Whole Foods, Etsy, Starbucks, McDonald’s, Newegg, Home Depot, Rakuten and Twitch – the list goes on.

Once crypto payments become mainstream, I expect players in the industry to build infrastructure to add to the capabilities of crypto assets and facilitate direct crypto payments as I mentioned in the previous section. CBDCs are a way forward as well and will slowly but surely transform global finance.

The lack of regulation is a hindrance to growth at this moment and the adoption of CBDCs could see cryptocurrencies gain more importance and traction rapidly. Many countries do not have taxation rules in place at the moment and do not know how to treat crypto assets. And since they cannot understand crypto assets, they refuse to acknowledge their importance.

This is why I feel 2022 could be a turning point for the crypto industry in terms of global finance, with CBDCs likely to receive a huge global push. China is leading the way at the moment and countries like the UK and India are not too far behind.

Conclusion

The crypto industry will continue to develop and the demand for crypto assets will rise. Global crypto adoption for payments will not only add ease to cross-border payments at low costs but also allow us access to programmable and automatable payments.

China will play a leading role in global crypto infrastructure in the near future, owing to its progress with CBDC technology. The growth of India as a crypto-using nation is heartening to see as well – India has the most active crypto users at the time of writing.

Financial institutions are seeing cryptocurrencies in brighter light and their acceptance of digital currencies is key to the future growth of the industry. In the end, the goal is not to eradicate traditional finance but enhance it.

Greg Waisman, co-founder and COO of the global payments network Mercuryo.

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 21st, 2021

EOS

EOS rallied by 8.19% on Wednesday. Following a 0.98% gain on Tuesday, EOS ended the day at $4.8263.

A mixed start to the day saw EOS fall to an early morning intraday low $4.4386 before making a move.

Steering clear of the first major support level at $4.3776, EOS rallied to a late intraday high $4.8915.

EOS broke through the day’s major resistance levels to wrap up the day at $4.8 levels.

At the time of writing, EOS was up by 1.70% to $4.9084. A mixed start to the day saw EOS fall to an early morning low $4.8024 before rising to a high $4.9084.

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

EOSUSD 211021 Hourly Chart

For the day ahead

EOS would need to avoid the $4.7188 pivot to bring the first major resistance level at $4.9990 into play.

Support from the broader market would be needed to break back through to $4.95 levels.

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

In the event of an extended rally, EOS could test resistance at $5.20 levels before any pullback. The third major resistance level sits at $5.1717.

A fall through the $4.7188 pivot would bring the first major support level at $4.5461 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.50 levels. The second major support level sits at $4.2659.

Looking at the Technical Indicators

First Major Support Level: $4.5461

First Major resistance Level: $4.9990

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 4.79% on Wednesday. Reversing a 1.50% loss from Tuesday, Stellar’s Lumen ended the day at $0.3917.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3678 before making a move.

Steering clear of the first major support level at $0.3657, Stellar’s Lumen rallied to a late intraday high $0.3924.

Stellar’s Lumen broke through the first major resistance level at $0.3828 and the second major resistance level at $0.3919.

A late pullback, however, saw Stellar’s Lumen fall back through the second major resistance level to end the day at sub-$0.3917.

At the time of writing, Stellar’s Lumen was up by 0.64% to $0.3941. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3906 before rising to a high $0.3942.

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

XLMUSD 211021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid the $0.3840 pivot to bring the first major resistance level at $0.4001 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.40 levels.

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

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at the 38.2% FIB of $0.4277 before any pullback. The second major resistance level sits at $0.4086.

A fall through the $0.3840 pivot would bring the first major support level at $0.3755 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.35 support levels. The second major support level at $0.3594 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3755

First Major Resistance Level: $0.4001

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 3.39% on Wednesday. Following a 2.31% gain on Tuesday, Tron’s TRX ended the day at $0.1037.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.09955 before making a move.

Steering clear of the 38.2% FIB of $0.09890 and the first major support level at $0.09803, Tron’s TRX rallied to a mid-morning intraday high $0.1064.

Tron’s TRX broke through the first major resistance level at $0.1020 and the second major resistance level at $0.1038.

A pullback, however, saw Tron’s TRX fall back through the major resistance levels to sub-$0.1020 before finding support.

Late in the day, Tron’s TRX broke back through the first major resistance level to end the day at $0.1030 levels.

At the time of writing, Tron’s TRX was down by 0.37% to $0.1033. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1025 before rising to a high $0.1040.

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

TRXUSD 211021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.1032 pivot to bring the first major resistance level at $0.1069 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.1064.

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

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.115 levels before any pullback. The second major resistance level sits at $0.1101.

A fall back through the $0.1032 pivot would bring the first major support level at $0.1000 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.09637. The 38.2% FIB of $0.09890 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.1000

First Major Resistance Level: $0.1069

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 20th, 2021

EOS

EOS rose by 0.98% on Tuesday. After having ended the day flat on Monday, EOS ended the day at $4.4611.

After a mixed morning, EOS rose to an early afternoon intraday high $4.5178 before hitting reverse.

Falling short of the first major resistance level at $4.5387, EOS fell to an early afternoon intraday low $4.3642.

Steering clear of the first major support level at $4.3257, EOS recovered to end the day at $4.46 levels.

At the time of writing, EOS was down by 0.05% to $4.4589. A mixed start to the day saw EOS fall to an early morning low $4.4507 before rising to a high $4.4727.

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

EOSUSD 201021 Hourly Chart

For the day ahead

EOS would need to avoid the $4.4477 pivot to bring the first major resistance level at $4.5312 into play.

Support from the broader market would be needed to break back through to $4.50 levels.

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

In the event of an extended rally, EOS could test resistance at $4.70 levels before any pullback. The third major resistance level sits at $4.6013.

A fall through the $4.4477 pivot would bring the first major support level at $4.3776 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.30 levels. The second major support level sits at $4.2941.

Looking at the Technical Indicators

First Major Support Level: $4.3776

First Major resistance Level: $4.5312

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 1.50% on Tuesday. Following a 0.99% decline on Monday, Stellar’s Lumen ended the day at $0.3738.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3838 before hitting reverse.

Falling short of the first major resistance level at $0.3911, Stellar’s Lumen fell to an early afternoon intraday low $0.3667.

Stellar’s Lumen fell through the first major support level at $0.3721 before briefly revisiting $0.373 levels.

Bearish late in the day, however, Stellar’s Lumen briefly fell back through the first major support level before ending the day at $0.373 levels.

At the time of writing, Stellar’s Lumen was down by 0.82% to $0.3708. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3744 before falling to a low $0.3706.

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

XLMUSD 201021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3748 pivot to bring the first major resistance level at $0.3828 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.38 levels.

Barring an extended rally, the first major resistance level and Tuesday’s high $0.3838 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.3919.

Failure to move through the $0.3748 pivot would bring the first major support level at $0.3657 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.35 support levels. The second major support level at $0.3577 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3657

First Major Resistance Level: $0.3828

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 2.31% on Tuesday. Reversing a 1.04% loss from Monday, Tron’s TRX ended the day at $0.1003.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.09750 before making a move.

Steering clear of the first major support level at $0.09637, Tron’s TRX rallied to a late morning intraday high $0.1015.

Tron’s TRX broke through the 38.2% FIB of $0.09890 and the first major resistance level at $0.09981.

An early afternoon pullback, however, saw Tron’s TRX fall back to sub-$0.099 levels before a finding support.

Late in the day, Tron’s TRX broke back through the 38.2% FIB and the first major resistance level to end the day at $0.10 levels.

At the time of writing, Tron’s TRX was up by 0.40% to $0.1007. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1011 before falling to a low $0.1000.

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

TRXUSD 201021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid the $0.09977 pivot to bring the first major resistance level at $0.1020 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.1015.

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

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.1050 levels before any pullback. The second major resistance level sits at $0.1038.

A fall through the $0.09977 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09803 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.096 levels. The second major support level sits at $0.09577.

Looking at the Technical Indicators

First Major Support Level: $0.09803

First Major Resistance Level: $0.1020

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 19th, 2021

EOS

EOS ended the day flat on Monday. Following a 3.22% slide on Sunday, EOS ended the day at $4.4179.

A bullish start to the day saw EOS rise to a late morning intraday high $4.5674 before hitting reverse.

Falling short of the first major resistance level at $4.6068, EOS fell to a late intraday low $4.3544.

Steering clear of the first major support level at $4.2241, EOS moved back through to $4.4 levels to end the day flat.

At the time of writing, EOS was up by 0.13% to $4.4238. A mixed start to the day saw EOS fall to an early morning low $4.3988 before rising to a high $4.4483.

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

EOSUSD 191021 Hourly Chart

For the day ahead

EOS would need to move back through the $4.4466 pivot to bring the first major resistance level at $4.5387 into play.

Support from the broader market would be needed to break back through to $4.50 levels.

Barring a broad-based crypto rally, the first major resistance and Monday’s high $4.5674 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.70 levels before any pullback. The third major resistance level sits at $4.6596.

Failure to move back through the $4.4466 pivot would bring the first major support level at $4.3257 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.20 levels. The second major support level at $4.2336 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4.3257

First Major resistance Level: $4.5387

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 0.99% on Monday. Following a 3.30% loss on Sunday, Stellar’s Lumen ended the day at $0.3796.

After a mixed start to the day, Stellar’s Lumen rose to a mid-day intraday high $0.3952 before hitting reverse.

Falling short of the first major resistance level at $0.4018, Stellar’s Lumen fell to a late intraday low $0.3762.

Steering clear of the first major support level at $0.3666, however, Stellar’s Lumen revisited $0.38 levels before easing back.

At the time of writing, Stellar’s Lumen was down by 0.09% to $0.3792. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3773 before rising to a high $0.3810.

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

XLMUSD 191021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3837 pivot to bring the first major resistance level at $0.3911 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.39 levels.

Barring an extended rally, the first major resistance level and Monday’s high $0.3952 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at the 38.2% FIB of $0.4277 before any pullback. The second major resistance level sits at $0.4027.

Failure to move through the $0.3837 pivot would bring the first major support level at $0.3721 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of the 23.6% FIB of $0.3402. The second major support level at $0.3647 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3721

First Major Resistance Level: $0.3911

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 1.04% on Monday. Reversing a 0.08% gain from Sunday, Tron’s TRX ended the day at $0.09804.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.09991 before hitting reverse.

Falling short of the first major resistance level at $0.1021, Tron’s TRX slid to a late intraday low $0.09647.

While steering clear of the first major support level at $0.09568, Tron’s TRX fell through the 38.2% FIB of $0.09890 to end the day at $0.098 levels.

At the time of writing, Tron’s TRX was up by 0.13% to $0.09816. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09760 before rising to a high $0.09898.

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

TRXUSD 191021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.09814 pivot to bring the 38.2% FIB of $0.09890 and the first major resistance level at $0.09981 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.099 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.09991 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.1050 levels before any pullback. The second major resistance level sits at $0.1016.

A fall back through the $0.09814 pivot would bring the first major support level at $0.09637 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.09470.

Looking at the Technical Indicators

First Major Support Level: $0.09637

First Major Resistance Level: $0.09981

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 18th, 2021

EOS

EOS slid by 3.22% on Sunday. Following a 1.57% decline on Saturday, EOS ended the week down by 3.61% to $4.4180.

A mixed start to the day saw EOS rise to an early morning intraday high $4.6018 before hitting reverse.

Falling short of the first major resistance level at $4.6806, EOS tumbled to a late intraday low $4.2191.

EOS fell through the day’s major support levels before a partial recovery.

Late in the day, EOS moved back through the third major support level at $4.2252 to end the day at $4.36 levels.

At the time of writing, EOS was up by 0.89% to $4.6245. A mixed start to the day saw EOS fall to an early morning low $4.5598 before rising to a high $4.6245.

EOS broke through the first major resistance level at $4.6068 early on.

EOSUSD 181021 Hourly Chart

For the day ahead

EOS would need to avoid a fall back to sub-$4.60 levels to bring the second major resistance level at $4.7957 into play.

Support from the broader market would be needed to break back through to $4.70 levels.

Barring a broad-based crypto rally, the second major resistance would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $5.00 levels before any pullback. The third major resistance level sits at $5.1784.

A fall back to sub-$4.60 and through the $4.4130 pivot would bring the first major support level at $4.2241 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.00 levels. The second major support level at $4.0303 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4.2241

First Major resistance Level: $4.6068

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 3.30% on Sunday. Partially reversing a 9.76% rally from Saturday, Stellar’s Lumen ended the week up by 15.81% to $0.3835.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.4032 before hitting reverse.

Falling short of the first major resistance level at $0.4241, Stellar’s Lumen slid to a late intraday low $0.3680.

Steering clear of the first major support level at $0.3655, however, Stellar’s Lumen found late support to end the day at $0.38 levels.

At the time of writing, Stellar’s Lumen was up by 2.10% to $0.3916. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3802 before rising to a high $0.3917.

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

XLMUSD 181021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.3849 pivot to bring the first major resistance level at $0.4018 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.40 levels.

Barring an extended rally, the first major resistance level and Sunday’s high $0.4032 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at the 38.2% FIB of $0.4277 before any pullback. The second major resistance level sits at $0.4201.

A fall back through the $0.3849 pivot would bring the first major support level at $0.3666 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of the 23.6% FIB of $0.3402. The second major support level at $0.3497 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3666

First Major Resistance Level: $0.4018

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 0.08% on Sunday. Following a 0.56% gain from Saturday, Tron’s TRX ended the week up by 1.18% to $0.09869.

After mixed start to the day, Tron’s TRX rose to an early afternoon intraday high $0.1025 before hitting reverse.

Tron’s TRX broke through the 38.2% FIB of $0.09890 and the first major resistance level at $0.1009.

The reversal, however, saw Tron’s TRX slide to a late intraday low $0.09608.

Falling back through the 38.2% FIB, Tron’s TRX also briefly fell through the first major support level at $0.09703.

Finding late support, however, Tron’s TRX broke back through the first major support level to end the day at $0.098 levels.

At the time of writing, Tron’s TRX was up by 0.70% to $0.09976. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09828 before rising to a high $0.09991

While leaving the major support and resistance levels untested, Tron’s TRX broke through the 38.2% FIB of $0.09890.

TRXUSD 181021 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.09909 pivot to bring the first major resistance level at $0.1021 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.10 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.1025 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1055.

A fall back through the $0.09909 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09568 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.09267.

Looking at the Technical Indicators

First Major Support Level: $0.09568

First Major Resistance Level: $0.1021

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 14th, 2021

EOS

EOS rose by 2.32% on Wednesday. Reversing a 1.10% decline from Tuesday, EOS ended the day at $4.6016.

A mixed start to the day saw EOS fall to a late morning intraday low $4.3758 before making a move.

Steering clear of the first major support level at $4.3249, EOS rallied to a late intraday high $4.6105.

Coming up against the first major resistance level at $4.6105, EOS briefly eased back to sub-$4.60 levels.

At the time of writing, EOS was down by 0.35% to $4.5856. A mixed start to the day saw EOS rise to an early morning high $4.6133 before falling to a low $4.5733.

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

EOSUSD 141021 Hourly Chart

For the day ahead

EOS would need to avoid the $4.5293 pivot to bring the first major resistance level at $4.6828 into play.

Support from the broader market would be needed to break out from $4.6150 levels.

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

In the event of an extended rally, EOS could test resistance at $4.80 levels before any pullback. The second major resistance level sits at $4.7640.

A fall through the $4.5293 pivot would bring the first major support level at $4.4481 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.30 levels. The second major support level sits at $4.2946.

Looking at the Technical Indicators

First Major Support Level: $4.4481

First Major resistance Level: $4.6828

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 surged by 10.71% on Wednesday. Reversing a 3.43% slide from Tuesday, Stellar’s Lumen ended the day at $0.3681.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3302 before making a move.

Steering clear of the first major support level at $0.3201, Stellar’s Lumen rallied to an early afternoon intraday high $0.3763.

Stellar’s Lumen broke through the first major support level at $0.3449 and the second major resistance level at $0.3573.

The breakout also saw Stellar’s Lumen break through the 23.6% FIB of $0.3402 to end the day at $0.368 levels.

At the time of writing, Stellar’s Lumen was up by 0.03% to $0.3682. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3715 before falling to a low $0.3680.

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

XLMUSD 141021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.3582 pivot to bring the first major resistance level at $0.3862 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s high $0.3763.

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

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.4043.

A fall through the $0.3582 pivot would bring the 23.6% FIB of $0.3402 and the first major support level at $0.3401 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.32 levels. The second major support level sits at $0.3121.

Looking at the Technical Indicators

First Major Support Level: $0.3401

First Major Resistance Level: $0.3862

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX rose by 2.44% on Wednesday. Reversing a 1.42% fall from Tuesday, Tron’s TRX ended the day at $0.09811.

A mixed start to the day saw Tron’s TRX fall to a late morning intraday low $0.09292 before making a move.

Steering clear of the first major support level at $0.09232, Tron’s TRX rallied to a late intraday high $0.09825.

Coming up against the first major resistance level at $0.09819, Tron’s TRX eased back to end the day at $0.0981 levels.

At the time of writing, Tron’s TRX was down by 0.56% to $0.09757. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.09836 before falling to a low $0.09701

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

TRXUSD 141021 Hourly Chart

For the Day Ahead

Tron’s TRX would need avoid the $0.09643 pivot to bring the 38.2% FIB of $0.09890 and the first major resistance level at $0.09993 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.099 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.10 would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.1050 levels before any pullback. The second major resistance level sits at $0.1018.

A fall through the $0.09643 pivot would bring the first major support level at $0.09460 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.090 levels. The second major support level at $0.09110 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.09460

First Major Resistance Level: $0.09993

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 13th, 2021

EOS

EOS fell by 1.10% on Tuesday. Following a 0.79% decline on Monday, EOS ended the day at $4.4973.

A mixed start to the day saw EOS rise to an early morning intraday high $4.5514 before hitting reverse.

Falling short of the first major resistance level at $4.7284, EOS slid to a late morning intraday low $4.2658.

EOS fell through the first major support level at $4.3990 before ending the day at $4.49 levels.

At the time of writing, EOS was up by 0.35% to $4.5129. A mixed start to the day saw EOS fall to an early morning low $4.4574 before rising to a high $4.5193

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

EOSUSD 131021 Hourly Chart

For the day ahead

EOS would need to avoid the $4.4382 pivot to bring the first major resistance level at $4.6105 into play.

Support from the broader market would be needed to break out from Tuesday’s high $4.5514.

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

In the event of an extended rally, EOS could test resistance at $4.80 levels before any pullback. The second major resistance level sits at $4.7238.

A fall through the $4.4382 pivot would bring the first major support level at $4.3249 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.00 levels. The second major support level at $4.1526 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4.3249

First Major resistance Level: $4.6105

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 3.43% on Tuesday. Partially reversing a 3.95% rally from Monday, Stellar’s Lumen ended the day at $0.3326.

A bearish start to the day saw Stellar’s Lumen slide from an early morning intraday high $0.3448 to a midday intraday low $0.3200.

Stellar’s Lumen fell through the 23.6% FIB of $0.3402 and the first major support level at $0.3275.

Steering clear of sub-$0.32 support levels, Stellar’s Lumen broke back through the first major support level to end the day at $0.33 levels.

At the time of writing, Stellar’s Lumen was up by 0.74% to $0.3350. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3302 before rising to a high $0.3350.

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

XLMUSD 131021 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.3325 pivot to bring the first major resistance level at $0.3449 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the 23.6% FIB of $0.3402.

Barring an extended rally, the first major resistance level and Tuesday’s high $0.3448 would likely cap the upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.36 levels before any pullback. The second major resistance level sits at $0.3573.

A fall back through the $0.3325 pivot would bring the first major support level at $0.3201 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level at $0.3077 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3201

First Major Resistance Level: $0.3449

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 1.42% on Tuesday. Following a 0.77% loss on Monday, Tron’s TRX ended the day at $0.09577.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.09716 before hitting reverse.

Falling short of the 38.2% FIB of $0.09890 and the first major resistance level at $0.1007, Tron’s TRX slid to a late morning intraday low $0.09129.

Tron’s TRX fell through the first major support level at $0.09415 before a partial recovery to end the day at $0.095 levels.

At the time of writing, Tron’s TRX was up by 0.34% to $0.09610. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09488 before rising to a high $0.09610.

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

TRXUSD 131021 Hourly Chart

For the Day Ahead

Tron’s TRX would need avoid the $0.09474 pivot to bring the first major resistance level at $0.09819 and the 38.2% FIB of $0.09890 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.098 levels.

Barring an extended crypto rally, the first major resistance level and the 38.2% FIB would likely cap the upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.10 levels before any pullback. The second major resistance level sits at $0.1006.

A fall through the $0.09474 pivot would bring the first major support level at $0.09232 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.090 levels. The second major support level sits at $0.08887.

Looking at the Technical Indicators

First Major Support Level: $0.09232

First Major Resistance Level: $0.09819

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob