EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – April 7th, 2021
EOS
EOS fell by 0.85% on Tuesday. Partially reversing a 6.55% gain from Monday, EOS ended the day at $6.6431.
A mixed start to the day saw EOS rise to a late morning intraday high $7.0976 before hitting reverse.
Falling short of the first major resistance level at $7.2488, EOS fell to an early afternoon intraday low $6.1579.
While steering clear of the first major support level at $5.9874, EOS fell through the 23.6% FIB of $6.52 before finding support.
Late in the day, EOS broke back through the 23.6% FIB to end the day at $6.6 levels.
At the time of writing, EOS down by 0.33% to $6.6213. A mixed start to the day saw EOS rise to an early morning high $6.7787 before falling to a low $6.5975
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through the $6.6329 pivot level to support a run at the first major resistance level at $7.1078.
Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $7.0976.
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 $8.00 before any pullback. The second major resistance level sits at $7.5726.
Failure to move back through the $6.6329 pivot would bring the 23.6% FIB of $6.52 and the first major support level at $6.1681 into play.
Barring another extended sell-off, however, EOS should steer clear of sub-$6.00 levels. The second major support level sits at $5.6932.
Looking at the Technical Indicators
First Major Support Level: $6.1681
First Major resistance Level: $7.1078
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 0.87% on Tuesday. Following on from a 25.27% surge from Monday, Stellar’s Lumen ended the day at $0.5419.
A mixed start to the day saw Stellar’s Lumen rise from an early morning low $0.4973 to a late morning intraday high $0.5775.
Falling short of the first major resistance level at $0.5832, Stellar’s Lumen slid to an early afternoon intraday low $0.4808.
Steering clear of the first major support level at $0.4563, Stellar’s Lumen recovered to end the day at $0.54 levels.
At the time of writing, Stellar’s Lumen was down by 2.08% to $0.5306. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.5469 before falling to a low $0.5283.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to move back through the pivot level at $0.5334 to bring the first major resistance level at $0.5860 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen break out from Tuesday’s high $0.5775.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.65 before any pullback. The second major resistance level sits at $0.6301.
Failure to move back through the $0.5334 pivot would bring the first major support level at $0.4893 and the 23.6% FIB of $0.4713 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear sub-$0.47 levels. The second major support level sits at $0.4367.
Looking at the Technical Indicators
First Major Support Level: $0.4893
First Major Resistance Level: $0.5860
23.6% FIB Retracement Level: $0.3426
38% FIB Retracement Level: $0.2823
62% FIB Retracement Level: $0.1850
Tron’s TRX
Tron’s TRX slid by 9.08% on Tuesday. Reversing a 6.64% gain from Monday, Tron’s TRX ended the day at $0.1242.
A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.1394 before hitting reverse.
Falling short of the first major resistance level at $0.1489, Tron’s TRX slid to an early afternoon intraday low $0.1108.
The sell-off saw Tron’s TRX fall through the first major support level at $0.1248 and the second major support level at $0.1131.
More significantly, Tron’s TRX also fell through the 23.6% FIB of $0.1159 before finding support.
Late in the day, Tron’s TRX broke back through the 23.6% FIB and the major support levels to revisit $0.128 levels before easing back.
The first major support level at $0.1248 delivered late support, however.
At the time of writing, Tron’s TRX was down by 1.99% to $0.1217. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1270 before falling to a low $0.1217.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX need to move back through the pivot level at $0.1248 to bring the first major resistance level at $0.1388 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.1350 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.1394 would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at $0.16 before any pullback. The second major resistance level sits at $0.1534.
Failure to move back through the $0.1248 pivot would bring the 23.6% FIB of $0.1159 and first major support level at $0.1102 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.10 levels. The second major support level sits at $0.0962.
Looking at the Technical Indicators
First Major Support Level: $0.1102
First Major Resistance Level: $0.1388
23.6% FIB Retracement Level: $0.1159
38.2% FIB Retracement Level: $0.0951
62% FIB Retracement Level: $0.0615
Please let us know what you think in the comments below
Thanks, Bob
