Currency Economy

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

EOS

(FXEmpires) – EOS fell by 1.02% on Tuesday. Partially reversing a 1.81% gain from Monday, EOS ended the day at $2.7908.

A mixed start to the day saw EOS rise to a mid-morning high $2.9341 before hitting reverse.

EOS broke through the first major resistance level at $2.8917 before sliding to a late morning intraday low $2.6517.

The sell-off saw EOS fall through the first major support level at $2.7095 before striking a late afternoon intraday high $2.9542.

EOS broke back through the first major resistance level before a slide back to sub-$2.80 levels and into the red.

In spite of the 2nd sell-off, EOS steered clear of the first major support level at $2.7095.

At the time of writing, EOS was up by 0.69% to $2.8100. A mixed start to the day saw EOS fall to an early morning low $2.7676 before rising to a high $2.8249.

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

For the day ahead

EOS would need to avoid a fall back through the $2.7989 pivot level to support a run at the first major resistance level at $2.9461.

Support from the broader market would be needed, however, for EOS to break back through to $2.90 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2.9542 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $3.10 before any pullback. The second major resistance level sits at $3.1014.

Failure to avoid a fall back through the pivot level at $2.7989 would bring the first major support level at $2.6436 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.60 levels. The second major support level sits at $2.4964.

Looking at the Technical Indicators

First Major Support Level: $2.6436

First Major resistance Level: $2.9461

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 2.20% on Tuesday. Reversing a 0.53% gain from Monday, Stellar’s Lumen ended the day at $0.2981.

A bullish start to the day saw Stellar’s Lumen rise to a late morning intraday high $0.3198 before hitting reverse.

Stellar’s Lumen broke through the first major resistance level at $0.3115 and the second major resistance level at $0.3180.

Coming up against resistance at $0.32, however, Stellar’s Lumen slid to a late intraday low $0.2936.

Stellar’s Lumen fell through the first major support level at $0.2958 before briefly revisiting $0.3050 levels.

A bearish end to the day, however, saw Stellar’s Lumen fall back to end the day at sub-$0.30 levels.

At the time of writing, Stellar’s Lumen was up by 0.33% to $0.2991. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2950 before striking a high $0.3016.

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

For the day ahead

Stellar’s Lumen would need to move through the $0.3038 pivot to bring the first major resistance level at $0.3141 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.31 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.3198 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.3300.

Failure to move through the $0.3038 pivot would bring the first major support level at $0.2879 and the 38.2% FIB of $0.2823 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.028 levels. The second major support level sits at $0.2776.

Looking at the Technical Indicators

First Major Support Level: $0.2879

First Major Resistance Level: $0.3141

23.6% FIB Retracement Level: $0.3187

38% FIB Retracement Level: $0.2823

62% FIB Retracement Level: $0.1850

Tron’s TRX

Tron’s TRX slid by 3.17% on Tuesday. Reversing a 3.42% rally from Monday, Tron’s TRX ended the day at $0.03089.

A mixed start to the day saw Tron’s TRX rise to a late morning intraday high $0.03269 before hitting reverse.

Falling short of the first major resistance level at $0.03311, Tron’s TRX slid to a late intraday low $0.03029.

Steering clear of the first major support level at $0.02957, Tron’s TRX revisited $0.0316 levels before sliding back into the deep red.

At the time of writing, Tron’s TRX was down by 0.18% to $0.03143. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.03211 before falling to a low $0.03102.

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

For the Day Ahead

Tron’s TRX would need to avoid a back fall through the $0.03129 pivot to bring the first major resistance level at $0.03229 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.032 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.03269 would likely cap any upside.

In the event of an extended rally Tron’s TRX could resistance at $0.034 before any pullback. The second major resistance level sits at $0.03369.

Failure to avoid a fall back through the $0.03129 pivot would bring the first major support level at $0.02989 and the 23.6% FIB of $0.0291 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.029 levels. The second major support level at sits at $0.02889.

Looking at the Technical Indicators

First Major Support Level: $0.02989

First Major Resistance Level: $0.03229

23.6% FIB Retracement Level: $0.03211

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

This article was originally posted on FX Empire

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