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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – March 18th, 2021

By:
Bob Mason
Published: Mar 18, 2021, 01:18 UTC

It's a mixed start to the day for the majors. Steering clear of the day's pivot levels would bring resistance levels into play, however.

E-coins on tablet computer with charts on screen

In this article:

EOS

EOS rose by 0.57% on Wednesday. Following on from a 6.65% rally on Tuesday, EOS ended the day at $4.0878.

A bearish start to the day saw EOS fall to a late morning intraday low $3.8317 before making a move.

Steering clear of the first major support level at $3.7557, EOS rallied to a late intraday high $4.1123.

Falling short of the first major resistance level at $4.2668, EOS eased back to end the day at sub-$4.10 levels.

At the time of writing, EOS was up by 0.64% to $4.1139. A mixed start to the day saw EOS fall to an early morning low $4.0588 before rising to a high $4.1501.

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

EOSUSD 180321 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $4.0106 pivot level to support a run at the first major resistance level at $4.1895.

Support from the broader market would be needed, however, for EOS to break out from the morning high $4.1501.

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

In the event of an extended rally, EOS could test resistance at $4.30 before any pullback. The second major resistance level sits at $4.2912.

Failure to avoid a fall through the $4.0106 pivot would bring the first major support level at $3.9089 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.80 levels. The second major support level sits at $3.7300.

Looking at the Technical Indicators

First Major Support Level: $3.9089

First Major resistance Level: $4.1895

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 1.74% on Wednesday. Following on from a 2.94% gain on Tuesday, Stellar’s Lumen ended the day at $0.4027.

A mixed start to the day saw Stellar’s Lumen fall to a late morning intraday low $0.3869.

While steer clear of the first major support level at $0.3752, Stellar’s Lumen found support at the 38.2% FIB of $0.3864.

An afternoon bounce back saw Stellar’s Lumen strike a late intraday high $0.4055 before easing back.

While falling short of the first major resistance level at $0.4138, Stellar’s Lumen broke back through the 38.2% FIB to end the day at $0.40 levels.

At the time of writing, Stellar’s Lumen was down by 0.44% to $0.4010. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4078 before falling to a low $0.4000.

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

XLMUSD 180321 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the pivot level at $0.3984 to bring the first major resistance level at $0.4098 back into play.

Support from the broader market would be needed, however, for Stellar’s Lumen break out from this morning’s high $0.4078.

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 resistance at $0.42 before any pullback. The second major resistance level sits at $0.4170.

Failure to avoid a fall through the $0.3983 pivot would bring the first major support level at $0.3912 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.3798. The 38.2% FIB of $0.3864 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3912

First Major Resistance Level: $0.4098

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 rallied by 4.60% on Wednesday. Following on from a 2.33% gain on Tuesday, Tron’s TRX ended the day at $0.05478.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.05150 before making a move.

Steering clear of the first major support level at $0.04941, Tron’s TRX rallied to a late morning intraday high $0.05625.

Tron’s TRX broke through the first major resistance level at $0.05433.

Coming up against the second major resistance level at $0.05630, Tron’s TRX slid back to sub-$0.052 levels before a late rally.

The late rally saw Tron’s TRX break back through the first major resistance level to end the day at $0.0547 levels.

At the time of writing, Tron’s TRX was down by 0.81% to $0.05434. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.05599 before falling to a low $0.05345.

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

TRXUSD 180321 Hourly Chart

For the Day Ahead

Tron’s TRX need to avoid a fall back through the pivot level at $0.05418 to bring the first major resistance level at $0.05685 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.056 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.05625 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 $0.05893.

Failure to avoid a fall back through the $0.05418 pivot would bring the first major support level at $0.05210 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.049 levels. The second major support level at $0.04943 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.05210

First Major Resistance Level: $0.05685

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

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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