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.
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.
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.
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
This article was originally posted on FX Empire
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