EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 31st, 2021

EOS

EOS rose by 0.31% on Sunday. Following a 1.58% decline on Saturday, EOS ended the week up by 40.67% to $6.0436.

A bearish start to the day saw EOS fall to an early morning intraday low $5.5439 before making a move.

EOS fell through the first major support level at $5.5775 before rallying to a mid-day intraday high $6.3777.

Falling short of the 23.6% FIB of $6.52 and the first major resistance level at $6.6420, EOS fell back to sub-$6.00 levels.

Finding late support, however, EOS moved back through to $6.00 levels to end the day flat.

At the time of writing, EOS was down by 1.41% to $5.9586. A mixed start to the day saw EOS rise to an early morning high $6.1585 before falling to a low $5.8953.

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

For the day ahead

EOS would need to move back through the $5.9884 pivot to bring the first major resistance level at $6.4329 into play.

Support from the broader market would be needed for EOS to break back through to $6.40 levels.

Barring a broad-based crypto rally, the first major resistance level and the 23.6% FIB of $6.52 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $7.00 before any pullback. The second major resistance level sits at $6.8222.

Failure to move back through the $5.9884 pivot and would bring the first major support level at $5.5991 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level at $5.1546 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $5.5991

First Major resistance Level: $6.4329

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 1.99% on Sunday. Partially reversing an 8.04% slide from Saturday, Stellar’s Lumen ended week up by 3.09% to $0.3748.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3459 before making a move.

Steering clear of the first major support level at $0.3370, Stellar’s Lumen rose to a mid-morning intraday high $0.3991.

Falling short of the first major resistance level at $0.4035, Stellar’s Lumen fell back to sub-$0.37 levels before finding support.

Finding late support, however, Stellar’s Lumen revisited $0.0.38 levels to before easing back.

At the time of writing, Stellar’s Lumen was up by 0.23% to $0.3757. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3698 before striking a high $0.3847.

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

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.3733 pivot to bring the first major resistance level at $0.4006 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.40 levels.

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

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.45 levels. The second major resistance level sits at $0.4265.

Failure to avoid a fall back through the $0.3733 pivot would bring the first major support level at $0.3474 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of the 62% FIB of $0.3216. The second major support level sits at $0.3201.

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

Looking at the Technical Indicators

First Major Support Level: $0.3474

First Major Resistance Level: $0.4006

23.6% FIB Retracement Level: $0.6160

38% FIB Retracement Level: $0.5035

62% FIB Retracement Level: $0.3216

Tron’s TRX

Tron’s TRX rallied by 4.59% on Sunday. Reversing most of a 4.91% slide from Saturday, Tron’s TRX ended the week up by 13.45% to $0.07171.

Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.06632 before making a move.

Steering clear of the first major support level at $0.06538, Tron’s TRX rallied to a late morning intraday high $0.07357.

Tron’s TRX broke through the first major resistance level at $0.07324 before a pullback to sub-$0.071 levels.

Finding late support, however, Tron’s TRX revisited $0.073 levels before easing back. The first major resistance level at $0.07324 pinned Tron’s TRX back late in the day.

At the time of writing, Tron’s TRX was down by 0.21% to $0.07156. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.07309 before falling to a low $0.07113.

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

For the Day Ahead

Tron’s TRX would need to avoid a fall through the pivot at $0.07053 to bring the first major resistance level at $0.07475 and the 62% FIB of $0.07480 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday’s high $0.07357.

Barring an extended crypto rally, the first major resistance level and the 62% FIB would likely cap any upside.

In the event of a broad-based crypto rally, Tron’s TRX could test the second major resistance level at $0.07778.

Failure to avoid a fall through the $0.07053 pivot would bring the first major support level at $0.06750 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.06328.

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

Looking at the Technical Indicators

First Major Support Level: $0.06750

First Major Resistance Level: $0.07475

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