EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 10th, 2021

EOS

EOS rose by 1.69% on Sunday. Reversing a 0.07% loss from Saturday, EOS ended the week up by 61.27% to $10.5291.

A bullish start to the day saw EOS rise to an early morning intraday high $11.1028 before hitting reverse.

Falling short of the first major resistance level at $11.1917, EOS fell to a mid-day intraday low $9.1270.

The reversal saw EOS fall through the 38.2% FIB of $9.68 and the first major support level at $9.5852.

Steering clear of sub-$9.00 levels, EOS broke back through to first major support level and the 38.2% FIB to end the day at $10.50 levels.

At the time of writing, EOS was down by 2.83% to $10.2311. A mixed start to the day saw EOS rise to an early morning high $10.7362 before falling to a low $10.0812.

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

For the day ahead

EOS would need to move back through the pivot at $10.2530 to bring the first major resistance level at $11.3789 into play.

Support from the broader market would be needed for EOS to break back through to $11.00 levels.

Barring an extended rally throughout the day, the first major resistance level will likely cap the upside.

In the event of another extended breakout, EOS could test resistance at $12.0 levels. The second major resistance level sits at $12.2288.

Failure to move back through the $10.2530 pivot would bring the 38.2% FIB of $9.68 and the first major support level at $9.4031.

Barring an extended sell-off, however, EOS should steer well clear of sub-$9.00 levels. The second major support level sits at $8.2772.

Looking at the Technical Indicators

First Major Support Level: $9.4031

First Major resistance Level: $11.3789

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 2.23% on Sunday. Reversing a 2.55% loss from Saturday, Stellar’s Lumen ended the week up by 13.06% to $0.6289.

A mixed start to the day saw Stellar’s Lumen fall to a mid-day intraday low $0.5765 before making a move.

Stellar’s Lumen fell through the first major support level at $0.6000 and the second major support level at $0.5848.

Steering clear of the 23.6% FIB of $0.5342, Stellar’s Lumen rallied to a late afternoon intraday high $0.6342.

Coming within range of the first major resistance level at $0.6359, Stellar’s Lumen eased back to end the day at sub-$0.63 levels.

At the time of writing, Stellar’s Lumen was up by 4.69% to $0.6584. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.6266 before striking a high $0.6661.

Stellar’s Lumen broke through the first major resistance level at $0.6499 early on.

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the first major resistance level at $0.6499 to bring the second major resistance level at $0.6709 into play.

Support from the broader market would be need, however, for Stellar’s Lumen to break out from this morning’s high $0.6661.

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

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.70 before any pullback. The third major resistance level sits at $0.7286.

Failure to avoid a fall back through the first major resistance level would bring the $0.6132 pivot into play.

Barring an extended sell-off on the day, however, Stellar’s Lumen should steer clear of the first major support level at $0.5922.

Looking at the Technical Indicators

First Major Support Level: $0.5922

First Major Resistance Level: $0.6499

23.6% FIB Retracement Level: $0.5342

38% FIB Retracement Level: $0.4373

62% FIB Retracement Level: $0.2808

Tron’s TRX

Tron’s TRX rose by 0.07% on Sunday. Following a 2.85% decline from Saturday, Tron’s TRX ended the week up by 12.07% to $0.1434.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.1463 before hitting reverse.

Falling short of the first major resistance level at $0.1507, Tron’s TRX slid to an early afternoon intraday low $0.1349.

The reversal saw Tron’s TRX fall through the 23.6% FIB of $0.1426 and the first major support level at $0.1385.

Finding late support, however, Tron’s TRX broke back through the first major resistance level and 23.6% FIB to end the day at $0.143 levels.

At the time of writing, Tron’s TRX was up by 2.43% to $0.1469. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1424 before rising to a high $0.1482.

Tron’s TRX tested support at the 23.6% FIB of $0.1426 and also the first major resistance level at $0.1482 early on.

For the Day Ahead

Tron’s TRX would need to avoid a fall through the 23.6% FIB of $0.1426 and the pivot at $0.1415 to bring the first major resistance level at $0.1482 back into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.1480 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.15 would likely cap any upside.

In the event of an extended rally Tron’s TRX could test resistance at $0.16 levels. The second major resistance level sits at $0.1529.

Failure to avoid a fall through the 23.6% FIB and the $0.1415 pivot would bring the first major support level at $0.1368 into play.

Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.13 levels. The second major support level at $0.1301 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.1368

First Major Resistance Level: $0.1482

23.6% FIB Retracement Level: $0.1426

38.2% FIB Retracement Level: $0.1167

62% FIB Retracement Level: $0.0748

Please let us know what you think in the comments below

Thanks, Bob