EOS, Stellar’s Lumen Daily Analysis – 12 October

Most altcoins will have to move above today’s pivots to avoid breaching vital support areas following choppy actions at the beginning of the week.

EOS

EOS declined by 0.79% yesterday. With Sunday’s 8.26% drop, the alt ended its day near $4.5477. Unpredictable sessions early on Monday had the token rallying to $4.7603 before reversals emerged.

Meanwhile, EOS dropped to the intraday low of $4.4309 after failing to overcome the initial massive resistance at $4.8473. EOS declined to breach the vital support at $4.4414 before climbing to end its day at around $4.50.

While writing these lines, EOS trades at $4.424 after losing 1.74%. However, mixed morning movements witnessed the token rising to hit an early morning peak of $4.5514 before EOS plunged to $4.4575.

EOS’s Day Ahead

EOS has to move past the pivot point at $4.5796 to test the initial critical resistance located at $4.7284. Meanwhile, the asset will necessitate broader market support to overpower the price levels at $4.70.

An extended rally might take EOS to the resistance level at $5.0 before pullbacks. The alt has its 2nd massive resistance around $4.909.

Technical Indicators

• First Vital Support Level -$4.3990
• First Vital resistance Level – $4.7284
• 6% Fibonacci Retracement Level – $6.52
• 38% Fibonacci Retracement Level – $9.68
• 62% Fibonacci Retracement Level – $14.77

Stellar’s Lumen

Stellar’s Lumen surged 3.59% yesterday. The crypto ended its day around $0.3444 after partially reversing Sunday’s 6.23% drop. Mixed early sessions on Monday witnessed Stellar’s Lumen sliding to an intraday low of $0.3256.

The alt rallied to the high at $0.3575 after steering off the initial massive support of $0.3209. Stellar’s Lumen overpower the 23.6% Fibonacci of $0.3402 and the initial resistance at $0.3497. However, a late plummet had the token falling to sub-$0.34 before ending its day near $0.344.

While writing this content, Stellar’s Lumen trades at $0.3317 after dropping 1.69%. Mixed movements had the asset climbing to $0.3448 before hitting $0.3374 intraday lows. The alternative coin did not test its critical resistance and support levels.

Stellar’s Lumen should move past the 23.6% Fibonacci and the pivot at $0.3425 to test the initial resistance near $0.3594. Total market backing is essential for the asset to overpower the level at $0.3450.

Technical Indicators

• First Vital Support Level – $0.3275
• First Vital Resistance Level – $0.3594
• 6% Fibonacci Retracement Level – $0.3402
• 38% Fibonacci Retracement Level – $0.4277
• 62% Fibonacci Retracement Level – $0.5690