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

By:
Bob Mason
Published: Jun 24, 2021, 01:14 UTC

It's a bullish start to the day for the majors. Steering clear of the day's pivot levels would support another day of solid gains. Tron's TRX was on the move early on...

Coins of crypto currency are presented on a dark background. Virtual money concept.

In this article:

EOS

EOS rallied by 8.26% on Wednesday. Reversing a 3.61% fall from Tuesday, EOS ended the day at $3.6700.

A mixed start to the day saw EOS fall to an early morning intraday low $3.2743 before making a move.

Steering clear of the first major support level at $3.0307, EOS rose to an early afternoon intraday high $3.8103.

EOS broke through the first major resistance level at $3.7569 before easing back to end the day at sub-$3.70 levels.

At the time of writing, EOS was up by 0.10% to $3.6738. A mixed start to the day saw EOS fall to an early morning low $3.6455 before rising to a high $3.7280.

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

EOSUSD 240621 Hourly Chart

For the day ahead

EOS would need to avoid the $3.5849 pivot to bring the first major resistance level at $3.8954 into play.

Support from the broader market would be needed for EOS to break out from Wednesday’s high $3.8103.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.20. The second major resistance level sits at $4.1209.

A fall through the $3.5849 pivot and would bring the first major support level at $3.3594 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level at $3.0489 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $3.3594

First Major resistance Level: $3.8954

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 rallied by 8.53% on Wednesday. Reversing a 0.21% fall from Tuesday, Stellar’s Lumen ended the day at $0.2557.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.2248 before making a move.

Steering clear of the first major support level at $0.2032, Stellar’s Lumen rose to a mid-morning intraday high $0.2701.

Stellar’s Lumen broke through the first major resistance level at $0.2636 before a brief pullback to sub-$0.25 levels.

At the time of writing, Stellar’s Lumen was up by 0.26% to $0.2564. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.2598 before falling to a low $0.2548.

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

XLMUSD 240621 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid the $0.2502 pivot to bring the first major resistance level at $0.2756 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.27 levels.

Barring an extended rally, the first major resistance level and resistance at $0.28 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.30 before any pullback. The second major resistance level sits at $0.2955.

Failure to avoid a fall through the $0.2502 pivot would bring the first major support level at $0.2303 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear the second major support level at $0.2049.

A sustained fall through the 62% FIB of $0.3216 led to the formation a near-term bearish trend from 16th May’s swing hi $0.7978.

Looking at the Technical Indicators

First Major Support Level: $0.2303

First Major Resistance Level: $0.2756

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 surged by 13.39% on Wednesday. Reversing a 4.45% decline from Tuesday, Tron’s TRX ended the day at $0.05791.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.04947 before making a move.

Steering clear of the first major support level at $0.04588, Tron’s TRX rallied to an early afternoon intraday high $0.05796.

Tron’s TRX broke through the first major resistance level at $0.05648 before a fall back to $0.053 levels.

Finding late support, however, Tron’s TRX broke back through the first major resistance level to wrap up the day at $0.057 levels.

At the time of writing, Tron’s TRX was up by 5.09% to $0.06086. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.05763 to a high $0.06121.

Tron’s TRX broke through the first major resistance level at $0.06076 early on.

TRXUSD 240621 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the first major resistance level at $0.06076 to target $0.070 levels.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the second major resistance level at $0.06360.

Barring an extended crypto rally, the second major resistance level and resistance at $0.065 would likely cap any upside.

In the event of a broad-based crypto rally, Tron’s TRX could test the third major resistance level at $0.07209 before any pullback.

A fall through the first major resistance level and the $0.05511 pivot would bring the first major support level at $0.05227 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.050 levels. The second major support level sits at $0.04662.

A sustained fall back through the 62% FIB of $0.0748 led to the formation a near-term bearish trend from April’s swing hi $0.1844.

Looking at the Technical Indicators

First Major Support Level: $0.05227

First Major Resistance Level: $0.06076

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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