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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 12th, 2021

By:
Bob Mason
Published: Jul 12, 2021, 02:18 UTC

It's a bullish start to the day, with EOS on the move early on. Avoiding the day's pivot levels would support further upside in the day.

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 2.67% on Sunday. Partially reversing a 5.89% slide from Saturday, EOS ended the week up by 0.25% to $4.0747.

A mixed start to the day saw EOS fall an early morning low $3.8361 before making a move.

Steering clear of the first major support level at $3.7497, EOS rose to an early afternoon intraday high $4.1751.

Falling short of the first major resistance level at $4.93066, EOS eased back to end the day at sub-$4.10 levels.

At the time of writing, EOS was up by 5.04% to $4.2814. A bullish start to the day saw EOS rise from an early morning low $4.0313 to a high $4.3957.

EOS broke through the first major resistance level at $4.2212 and the second major resistance level at $4.3676 early on.

EOSUSD 120721 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the first major resistance level at $4.2212 to bring the second major resistance level at $4.3676 back into play.

Support from the broader market would be needed for EOS to break back through to $4.30 levels.

Barring a broad-based crypto rally, the second major resistance level and morning high $4.3957 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.50. The third major resistance level sits at $4.7066.

A fall back through the first major resistance level and the $4.0286 pivot would bring the first major support level at $3.8822 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.80 levels. The second major support level sits at $3.6896.

Looking at the Technical Indicators

First Major Support Level: $3.8822

First Major resistance Level: $4.2212

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 0.45% on Sunday. Reversing a 0.29% loss from Saturday, Stellar’s Lumen ended the week down by 8.25% to $0.2460.

A bearish start saw Stellar’s Lumen fall to an early morning intraday low $0.2403 before making a move.

Steering clear of the first major support level at $0.2378, Stellar’s Lumen rallied to a late intraday high $0.2479.

Falling short of the first major resistance level at $0.2524, however, Stellar’s Lumen eased back to sub-$0.2470 levels.

At the time of writing, Stellar’s Lumen was up by 0.63% to $0.2475. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2451 before rising to a high $0.2487.

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

XLMUSD 120721 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid the $0.2447 pivot to bring the first major resistance level at $0.2492 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.2487.

Barring an extended rally, the first major resistance level and resistance at $0.25 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test the second major resistance level at $0.2523.

A fall through the pivot would bring the first major support level at $0.2416 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.2371.

Looking at the Technical Indicators

First Major Support Level: $0.2416

First Major Resistance Level: $0.2492

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 0.51% on Sunday. Partially reversing a 1.43% fall from Saturday, Tron’s TRX ended the week down by 8.54% to $0.06165.

A mixed start to the day saw Tron’s TRX fall to an early morning low $0.06040 before making a move.

Steering clear of the first major support level at $0.06018, Tron’s TRX rose to a late intraday high $0.06280.

Coming up against the first major resistance level at $0.06276, Tron’s TRX fell back to end the day at sub-$0.062 levels.

At the time of writing, Tron’s TRX was up by 0.25% to $0.06181. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.06165 before rising to a high $0.06223.

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

TRXUSD 120721 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid the $0.06162 pivot to bring the first major resistance level at $0.06283 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.06280 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.06280 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.065. The second major resistance level sits at $0.06402.

A fall through the $0.06162 pivot would bring the first major support level at $0.06043 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.05922.

Looking at the Technical Indicators

First Major Support Level: $0.06043

First Major Resistance Level: $0.06283

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.

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