EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – February 4th, 2021

EOS

EOS rose by 2.29% on Wednesday. Reversing a 1.64% decline from Tuesday, EOS ended the day at $3.0719.

A mixed start to the day saw EOS fall to a late morning intraday low $2.9744 before making a move.

Steering clear of the first major support level at $2.9340, EOS rose to a late afternoon intraday high $3.1651.

EOS broke through the first major resistance level at $3.0840 before falling back to end the day at sub-$3.08 levels.

The second major resistance level at $3.1664 pinned EOS back on the day.

At the time of writing, EOS was up by 0.06% to $3.0738. A mixed start to the day saw EOS rise to an early morning high $3.1423 before falling to a low $3.0230.

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

For the day ahead

EOS would need to avoid a fall back through the $3.0705 pivot level to support a run at the first major resistance level at $3.1665.

Support from the broader market would be needed, however, for EOS to break back through to $3.16 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $3.1651 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $3.25. The second major resistance level sits at $3.2612.

Failure to avoid a fall back through the pivot level at $3.0705 would bring the first major support level at $2.9758 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$2.90 levels. The second major support level sits at $2.8798.

Looking at the Technical Indicators

First Major Support Level: $2.9758

First Major resistance Level: $3.1665

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 2.06% on Wednesday. Following on from a 5.13% rally on Tuesday, Stellar’s Lumen ended the day at $0.3469.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3491 before hitting reverse.

While falling short of the first major resistance level at $0.3541, Stellar’s Lumen broke through the 23.6% FIB of $0.3426.

The reversal saw Stellar’s Lumen fall back through the 23.6% FIB to a mid-day intraday low $0.3300 before finding support.

Steering clear of the first major support level at $0.3214, Stellar’s Lumen broke back through the 23.6% FIB to end the day at $0.346 levels.

At the time of writing, Stellar’s Lumen was down by 1.66% to $0.3412. A mixed start to the day saw Stellar’s Lumen rise to an early morning low high $0.3500 before falling to a low $0.3400.

While Stellar’s Lumen left the major support and resistance levels untested early on, Stellar’s Lumen fell back through the 23.6% FIB.

For the day ahead

Stellar’s Lumen would need to move back through the $0.3420 pivot and the 23.6% FIB of $0.3426 to bring the first major resistance level at $0.3540 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.3500.

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 the second major resistance level at $0.3611.

Failure to move back through the $0.3420 pivot and the 23.6% FIB would bring the first major support level at $0.3349 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.33 levels. The second major support level sits at $0.3229.

Looking at the Technical Indicators

First Major Support Level: $0.3349

First Major Resistance Level: $0.3540

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 rose by 2.79% on Wednesday. Following on from a 0.69% gain on Tuesday, Tron’s TRX ended the day at $0.03430.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.03274 before making a move.

Steering clear of the first major support level at $0.03237, Tron’s TRX rose to a late intraday high $0.03561.

Tron’s TRX broke through the first major resistance level at $0.3422 and the second major resistance level at $0.3505.

A bearish end to the day, however, saw Tron’s TRX fall back through the second major resistance level to end the day at $0.0343 levels.

At the time of writing, Tron’s TRX was up by 0.67% to $0.03453. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.03485 before falling to a low $0.03411.

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

For the Day Ahead

Tron’s TRX need to avoid a fall back through the $0.03422 pivot to bring the first major resistance level at $0.03569 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.035 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.03561 would likely cap any upside.

In the event of an extended rally Tron’s TRX could resistance at $0.036 before any pullback. The second major resistance level sits at $0.03709.

Failure to avoid a fall back through the $0.03422 pivot would bring the first major support level at $0.03282 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.032 levels. The second major support level sits at $0.03135.

Looking at the Technical Indicators

First Major Support Level: $0.03282

First Major Resistance Level: $0.03569

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