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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 2nd, 2021

By:
Bob Mason
Published: Sep 2, 2021, 02:18 UTC

It's a mixed start to the day for the majors. Avoiding the day's pivot levels would support a breakout day ahead.

Different cryptocurrencies in a circle with a golden bitcoin in

In this article:

EOS

EOS rallied by 5.57% on Wednesday. Following a 4.61% gain on Tuesday, EOS ended the day at $5.3202.

A mixed start to the day saw EOS fall to an early morning intraday low $4.9102 before making a move.

Steering clear of the first major support level at $4.8285, EOS rallied to a late intraday high $5.3322.

EOS broke through the first major resistance level at $5.1753 and the second major resistance level at $5.3112 to end the day at $5.32 levels.

At the time of writing, EOS was up by 0.21% to $5.3314. A mixed start to the day saw EOS rise to an early morning high $5.4344 before falling to a low $5.1974.

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

EOSUSD 020921 Hourly Chart

For the day ahead

EOS would need to avoid the $5.1875 pivot to bring the first major resistance level at $5.4649 into play.

Support from the broader market would be needed to break out from the morning high $5.4344.

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

In the event of an extended rally, EOS could test resistance the second major resistance level at $5.6095.

A fall through the $5.1875 pivot would bring the first major support level at $5.0429 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$5.00 levels. The second major support level sits at $4.7655.

Looking at the Technical Indicators

First Major Support Level: $5.0429

First Major resistance Level: $5.4649

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 4.25% on Wednesday. Following a 2.82% gain on Tuesday, Stellar’s Lumen ended the day at $0.3536.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3360 before making a move.

Steering clear of the first major support level at $0.3236, Stellar’s Lumen rallied to a late intraday high $0.3562.

Stellar’s Lumen broke through 23.6% FIB of $0.3402 and the first major resistance level at $0.3547 before easing back.

At the time of writing, Stellar’s Lumen was up by 0.93% to $0.3568. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3519 before rising to a high $0.3571.

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

XLMUSD 020921 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid the $0.3486 pivot to bring the first major resistance level at $0.3612 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.36 levels.

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

In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.37 before any pullback. The second major resistance level sits at $0.3688.

A fall through the $0.3486 pivot would bring the first major support level at $0.3410 and the 23.6% FIB of $0.3402 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.3350 levels. The second major support level sits at $0.3284.

Looking at the Technical Indicators

First Major Support Level: $0.3410

First Major Resistance Level: $0.3612

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 rallied by 6.95% on Wednesday. Following a 2.47% gain on Tuesday, Tron’s TRX ended the day at $0.09478.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.08702 before making a move.

Steering clear of the first major support level at $0.08519, Tron’s TRX rallied to a late intraday high $0.09573.

Tron’s TRX broke through the first major resistance level at $0.09160 and the second major resistance level at $0.09458 to end the day at $0.0947 levels.

At the time of writing, Tron’s TRX was up by 0.32% to $0.09508. A mixed start to the day saw Tron’s TRX fell to an early morning low $0.09286 before rising to a high $0.09865.

Tron’s TRX broke through the first major resistance level at $0.09800 early on before easing back.

TRXUSD 020921 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid the $0.09251 pivot to bring the first major resistance level at $0.0988 and the 38.2% FIB of $0.09890 back into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.098 levels.

Barring an extended crypto rally, the first major resistance level and 38.2% FIB would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test the second major resistance level at $0.10122.

A fall through the $0.09251 pivot would bring the first major support level at $0.08929 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.085 levels. The second major support level sits at $0.08380.

Looking at the Technical Indicators

First Major Support Level: $0.08929

First Major Resistance Level: $0.09800

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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