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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – December 7th, 2020

EOS

EOS fell by 0.28% on Sunday. Partially reversing a 5.84% rally from Saturday, EOS ended the week down by 1.04% to $3.0001.

A bullish start to the day saw EOS rise to an early morning intraday high $3.0401 before hitting reverse.

Falling short of the first major resistance level at $3.0809, EOS slid to an early afternoon intraday low $2.9042.

Steering clear of the first major support level at $2.8806, EOS moved back through to $3.00 levels to reduce the deficit on the day.

At the time of writing, EOS was down by 0.78% to $2.9768. A mixed start to the day saw EOS rise to an early morning high $3.0079 before falling to a low $2.9669.

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

EOSUSD 071220 Hourly Chart

For the day ahead

EOS would need to move back through the $2.9815 pivot level to support a run at the first major resistance level at $3.0587.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $3.0401.

Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of an extended rally, EOS could test resistance at $3.15 before any pullback. The second major resistance level sits at $3.1174.

Failure to move back through the pivot level at $2.9815 would bring the first major support level at $2.9228 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.90 levels. The second major support level sits at $2.8456.

Looking at the Technical Indicators

First Major Support Level: $2.9228

First Major resistance Level: $3.0587

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 2.28% on Sunday. Following on from a 6.54% rally on Saturday, Stellar’s Lumen ended the week down by 9.48% to $0.17602.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.18041 before hitting reverse.

Stellar’s Lumen broke through the first major resistance level at $0.1793 before sliding to an early afternoon intraday low $0.1672.

Steering clear of the first major support level at $0.1619, Stellar’s Lumen bounced back to $0.176 levels before easing back. A late rally reversed losses from the early afternoon.

At the time of writing, Stellar’s Lumen was down by 1.63% to $0.17304. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.17642 before falling to a low $0.17203.

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

XLMUSD 071220 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move back through the $0.17451 pivot level to support a run at the first major resistance level at $0.18182.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Sunday’s high $0.18041.

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

In the event of another breakout, Stellar’s Lumen could test resistance at $0.19 before any pullback. The second major resistance level sits at $0.18772.

Failure to move back through the pivot level at $0.17451 would bring the first major support level at $0.16860 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.16 levels. The second major support level at $0.16129 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.16860

First Major Resistance Level: $0.18182

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX rose by 1.13% on Sunday. Following on from a 3.39% gain on Saturday, Tron’s TRX ended the week up by 0.20% to $0.030815.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.03115 before hitting reverse.

Falling short of the first major resistance level at $0.03122, Tron’s TRX slid to a mid-day intraday low $0.02996.

Steering clear of the first major support level at $0.02938, Tron’s TRX found support from the 23.6% FIB of $0.0291 going into the afternoon.

Tron’s TRX rallied to a final hour intraday high $0.03123 before easing back. Breaking back through to $0.030 levels, the first major resistance level at $0.03122 pinned Tron’s TRX back late in the day.

At the time of writing, Tron’s TRX was down by 0.71% to $0.03060. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.03109 before falling to a low $0.03053.

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

TRXUSD 071220 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move back through the $0.03067 pivot level to support a run at the first major resistance level at $0.03138.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday’s high $0.03123.

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

In the event of another breakout, resistance at $0.032 would likely come into play. The second major resistance level sits at $0.03194.

Failure to move back through the $0.03067 pivot level would bring the first major support level at $0.03011 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of the second major support level at $0.02940 and the 23.6% FIB of 0.0291.

Looking at the Technical Indicators

First Major Support Level: $0.03011

First Major Resistance Level: $0.03138

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob