Advertisement
Advertisement

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 3rd, 2021

By:
Bob Mason
Published: Aug 3, 2021, 01:55 UTC

It's been a choppy start to the day for the majors. Failure to revisit early highs would leave support levels in play, however.

Stellar coin trading chart for monitoring XLM values of stellar and buying crypto currency on the exchange. Copy space.

In this article:

EOS

EOS rose by 2.08% on Monday. Partially reversing a 3.25% slide from Sunday, EOS ended the day at $4.0253.

A mixed start to the day saw EOS fall to an early morning intraday low $3.8888 before making a move.

Steering clear of the first major support level at $3.7847, EOS rose to a mid-morning intraday high $4.1590.

Falling short of the first major resistance level at $4.1687, EOS eased back to end the day at sub-$4.10 levels.

At the time of writing, EOS was down by 0.42% to $4.0084. A mixed start to the day saw EOS fall to an early morning low $3.9800 before rising to a high $4.1261.

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

EOSUSD 030821 Hourly Chart

For the day ahead

EOS would need to move back through the $4.0244 pivot to bring the first major resistance level at $4.1599 into play.

Support from the broader market would be needed for EOS to break back through to $4.10 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $4.1590 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.30. The second major resistance level sits at $4.2946.

Failure to move back through the $4.0244 pivot would bring the first major support level at $3.8897 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.80 levels. The second major support level sits at $3.7542.

Looking at the Technical Indicators

First Major Support Level: $3.8897

First Major resistance Level: 4.1599

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 0.36% on Monday. Following a 3.37% loss on Sunday, Stellar’s Lumen ended the day at $0.2742.

A mixed start saw Stellar’s Lumen fall to an early morning intraday low $0.2686 before making a move.

Steering clear of the first major support level at $0.2649, Stellar’s Lumen rallied to a mid-morning intraday high $0.2864.

Falling short of the first major resistance level at $0.2832, Stellar’s Lumen fell back to sub-$0.2750 levels and into the red.

At the time of writing, Stellar’s Lumen was down by 0.28% to $0.2734. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2725 before rising to a high $0.2789.

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

XLMUSD 030821 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move back through the $0.2842 pivot to bring the first major resistance level at $0.2842 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.28 levels.

Barring an extended rally, the first major resistance level and Monday’s high $0.2864 would likely cap any upside.

In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.30 before any pullback. The second major resistance level sits at $0.2942.

Failure to move back through the $0.2764 pivot would bring the first major support level at $0.2664 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.26 levels. The second major support level sits at $0.2586.

Looking at the Technical Indicators

First Major Support Level: $0.2664

First Major Resistance Level: $0.2842

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 3.21% on Monday. Reversing a 2.07% loss from Sunday, Tron’s TRX ended the day at $0.06502.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.06198 before making a move.

Steering clear of the first major support level at $0.06121, Tron’s TRX rose to a late afternoon intraday high $0.06592.

Coming up against the first major resistance level at $0.06590, however, Tron’s TRX fell back to sub-$0.064 levels before finding late support.

At the time of writing, Tron’s TRX was down by 0.46% to $0.06470. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.06362 before rising to a high $0.06605.

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

TRXUSD 030821 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.06431 pivot to bring the first major resistance level at $0.06663 into play.

Support from the broader market would be needed, however, for Tron’s TRX to breakout from Monday’s high $0.06592.

Barring an extended crypto rally, the first major resistance level and resistance at $0.067 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.70. The second major resistance level sits at $0.06825.

A fall back through the $0.06431 pivot would bring the first major support level at $0.06269 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.06037.

Looking at the Technical Indicators

First Major Support Level: $0.06269

First Major Resistance Level: $0.06663

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

Did you find this article useful?

Advertisement