EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – February 24th, 2021

EOS

EOS tumbled by 18.08% on Tuesday. Following on from a 7.99% slide on Monday, EOS ended the day at $3.8475.

A mixed start to the day saw EOS rise to an early morning intraday high $4.7259 before hitting reverse.

Falling short of the first major resistance level at $5.3447, EOS slid to a late morning intraday low $3.1590.

EOS fell through the first major support level at $4.0083 and the second major support level at $3.3196.

Steering clear of sub-$3.00 levels, EOS broke back through the second major support level to end the day at $3.80 levels.

At the time of writing, EOS was down by 1.77% to $3.7795. A mixed start to the day saw EOS rise to an early morning high $3.8837 before falling to a low $3.6613.

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

For the day ahead

EOS would need to move through the $3.9108 pivot level to support a run at the first major resistance level at $4.6626.

Support from the broader market would be needed, however, for EOS to break back through to $4.5 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $4.7259 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $5.00 before any pullback. The second major resistance level sits at $5.4777.

Failure to move through the $3.9108 pivot would bring the first major support level at $3.0957 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level sits at $2.3439.

Looking at the Technical Indicators

First Major Support Level: $3.0957

First Major resistance Level: $4.6626

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 16.57% on Tuesday. Following on from a 6.68% fall on Monday, Stellar’s Lumen ended the day at $0.3867.

A choppy start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.4650 before hitting reverse.

Falling short of the first major resistance level at $0.5323, Stellar’s Lumen tumbled to a late morning intraday low $0.3140.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.3873 and the 38.2% FIB of $0.3864.

Finding support going into the afternoon, Stellar’s Lumen broke back through the first major support level and the 38.2% FIB to revisit $0.40 levels.

Through the 2^nd half of the day, however, Stellar’s Lumen slid back to sub-$0.35 levels before ending the day at $0.386 levels.

The 2^nd sell-off saw Stellar’s Lumen fall back through the first major support level and the 38.2% FIB of $0.3864. At the day end, the 38.2% FIB of $0.3864 pegged Stellar’s Lumen back.

At the time of writing, Stellar’s Lumen was down by 1.08% to $0.3825. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3908 before falling to a low $0.3680.

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 38.2% FIB of $0.3864 and the pivot level at $0.3886 to bring the first major resistance level at $0.46313 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen break out from $0.45 levels.

Barring an extended crypto rally, the first major resistance level and 23.6% FIB of $0.4713 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.50. The second major resistance level sits at $0.5396.

Failure to move back through the 38.2% FIB and the $0.3886 pivot would bring the first major support level at $0.3121 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the 62% FIB of $0.2493 and the second major support level at $0.2376.

Looking at the Technical Indicators

First Major Support Level: $0.3121

First Major Resistance Level: $0.4631

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 tumbled by 16.97% on Tuesday. Following on from a 9.40% slide on Monday, Tron’s TRX ended the day at $0.04498.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.05474 before hitting reverse.

Falling short of the first major resistance level at $0.06086, Tron’s TRX slid to a late morning intraday low $0.03735.

The sell-off saw Tron’s TRX slide through the first major support level at $0.04649 and the second major support level at $0.03881.

Tron’s TRX also fell through the 38.2% FIB of $0.04280.

Finding late morning support, Tron’s TRX briefly revisited $0.046 levels before ending the day at $0.044 levels.

While breaking back through the 38.2% FIB, the first major support level at $0.04649 pinned Tron’s TRX back late in the day.

At the time of writing, Tron’s TRX was down by 0.39% to $0.04480. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.04566 before falling to a low $0.04277.

While leaving the major support and resistance levels untested early on, Tron’s TRX tested support at the 38.2% FIB of $0.04280.

For the Day Ahead

Tron’s TRX need to move through pivot level at $0.04569 to bring the first major resistance level at $0.05403 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.050 levels.

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

In the event of an extended rally Tron’s TRX could test resistance at $0.060 before any pullback. The second major resistance level sits at $0.06308.

Failure to move through the $0.04569 pivot would bring the 38.2% FIB of $0.04280 and the first major support level at $0.03664 into play.

Barring another extended sell-off on the day, Tron’s TRX should steer clear of the second major support level at $0.02830. The 23.6% FIB of $0.0291 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.03664

First Major Resistance Level: $0.05403

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