EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – March 16th, 2021

EOS

EOS fell by 2.93% on Monday. Following on from an 8.22% slide on Sunday, EOS ended the day at $3.8116.

A mixed start to the day saw EOS rise to an early morning intraday high $4.0459 before hitting reverse.

Falling short of the first major resistance level at $4.2422, EOS slid to a late morning intraday low $3.6706.

The reversal saw EOS fall through first major support level at $3.7727.

Finding late morning support, EOS briefly revisited $3.89 levels before sliding back to end at $3.81 levels.

At the time of writing, EOS was down by 2.49% to $3.7169. A mixed start to the day saw EOS rise to an early morning high $3.8713 before falling to a low $3.7167.

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

For the day ahead

EOS would need to move back through the $3.8427 pivot level to support a run at the first major resistance level at $4.0148.

Support from the broader market would be needed, however, for EOS to break back through to $4.00 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $4.0459 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.20 before any pullback. The second major resistance level sits at $4.2180.

Failure to move back through the $3.8427 pivot would bring the first major support level at $3.6395 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.50 levels. The second major support level sits at $3.4674.

Looking at the Technical Indicators

First Major Support Level: $3.6395

First Major resistance Level: $4.0148

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 1.18% on Monday. Following on from a 4.40% slide on Sunday, Stellar’s Lumen ended the day at $0.3842.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3989 before hitting reverse.

Falling short of the first major resistance level at $0.4024, Stellar’s Lumen slid to a late morning intraday low $0.3675.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.3815 and the second major support level at $0.3742.

More significantly, Stellar’s Lumen also fell through the 38.2% FIB of $0.3864.

Finding late morning support, Stellar’s Lumen revisited $0.388 levels before ending the day at $0.384 levels.

While breaking back through the major support levels, the 38.2% FIB of $0.3864 pinned Stellar’s Lumen back.

At the time of writing, Stellar’s Lumen was down by 2.12% to $0.3760. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3872 before falling to a low $0.3750.

While leaving the major support and resistance levels untested, Stellar’s Lumen tested resistance at the 38.2% FIB of $0.3864 early on.

For the day ahead

Stellar’s Lumen would need to move back through the pivot level at $0.3835 to bring the 38.2% FIB and the first major resistance level at $0.3996 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen break back through to $0.39 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.3989 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.42 before any pullback. The second major resistance level sits at $0.4149.

Failure to move back through the $0.3835 pivot would bring the first major support level at $0.3682 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.35 levels. The second major support level at $0.3521 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3682

First Major Resistance Level: $0.3996

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 fell by 1.19% on Monday. Following on from a 3.53% decline on Sunday, Tron’s TRX ended the day at $0.05068.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.05272 before hitting reverse.

Falling short of the first major resistance level at $0.05361, Tron’s TRX slid to a late morning intraday low $0.04746.

Tron’s TRX fell through the first major support level at $0.04976 and the second major support level at $0.04818.

Finding late morning support, Tron’s TRX revisited $0.052 levels before a final hour fall back into the red.

In spite of the late pullback, Tron’s TRX avoided a fall back through the first major support level at $0.04976.

At the time of writing, Tron’s TRX was down by 1.65% to $0.04980. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.05159 before falling to a low $0.04905.

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

For the Day Ahead

Tron’s TRX need to move back through the pivot level at $0.05029 to bring the first major resistance level at $0.05311 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.052 levels.

Barring an extended crypto rally, the first major resistance level and Monday high $0.05272 would likely cap any upside.

In the event of an extended rally Tron’s TRX could test resistance at $0.055 before any pullback. The second major resistance level sits at $0.05556.

Failure to move back through the $0.05029 pivot would bring the first major support level at $0.04785 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.046 levels. The second major support level sits at $0.04503.

Looking at the Technical Indicators

First Major Support Level: $0.04785

First Major Resistance Level: $0.05311

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