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

·6 min read

EOS

EOS slid by 4.98% on Tuesday. Partially revering a 9.89% rally from Monday, EOS ended the day at $6.3062.

A bullish start to the day saw EOS rise to an early morning intraday high $6.7658 before hitting reverse.

Falling short of the first major resistance level at $6.9689, EOS slid to an early afternoon intraday low $6.0737.

EOS fell through the 23.6% FIB of $6.52 to before a partial recovery to $6.30 levels. The first major support level at $6.0298 had provided support through the early afternoon.

At the time of writing, EOS was down by 1.35% to $6.2211. A mixed start to the day saw EOS rise to an early morning high $6.3391 before falling to a low $6.1826.

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

For the day ahead

EOS would need to move through the $6.3819 pivot to bring the 23.6% FIB of $6.52 and the first major resistance level at $6.6901 into play.

Support from the broader market would be needed for EOS to break back through to $6.60 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $6.7658 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $7.50 before any pullback. The second major resistance level sits at $7.0740.

Failure to move through the $6.3819 pivot and would bring the first major support level at $5.9980 into play.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $5.6898.

Looking at the Technical Indicators

First Major Support Level: $5.9980

First Major resistance Level: $6.6901

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 3.90% on Tuesday. Following on from a 7.42% gain on Monday, Stellar’s Lumen ended the day at $0.4183.

A bullish start to the day saw Stellar’s Lumen rise to an early morning high $0.4144 before hitting reverse.

Falling short of the major resistance levels, Stellar’s Lumen slid to an early afternoon intraday low $0.3838.

Steering clear of the first major support level at $0.3753, Stellar’s Lumen rallied to a mid-afternoon intraday high $0.4489.

Stellar’s Lumen broke through the first major resistance level at $0.4198 and the second major resistance level at $0.4372.

A bearish end to the day, however, saw Stellar’s Lumen fall back through the major resistance levels to end the day at $0.418 levels.

At the time of writing, Stellar’s Lumen was down by 1.23% to $0.4132. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4214 before falling to a low $0.4086.

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

For the day ahead

Stellar’s Lumen would need to move back through the $0.4170 pivot to bring the first major resistance level at $0.4502 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.44 levels.

Barring an extended rally, the first major resistance level and Tuesday’s high $0.4489 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test the second major resistance level at $0.4821.

Failure to move back through the $0.4170 pivot would bring the first major support level at $0.3851 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3519.

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

Looking at the Technical Indicators

First Major Support Level: $0.3851

First Major Resistance Level: $0.4502

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 fell by 0.70% on Tuesday. Partially reversing a 7.18% gain from Monday, Tron’s TRX ended the day at $0.07631.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.07774 before hitting reverse.

Falling short of the first major resistance level at $0.07958, Tron’s TRX slid to an early afternoon intraday low $0.07329.

While steering clear of the first major support level at $0.07186, Tron’s TRX fell through the 62% FIB of $0.07480.

Finding late support, however, Tron’s TRX broke back through the 62% FIB to end the day at $0.76 levels.

At the time of writing, Tron’s TRX was down by 0.59% to $0.07586. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.07670 to a low $0.07501.

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 back through $0.07578 pivot to bring the first major resistance level at $0.07827 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.07774.

Barring an extended crypto rally, the first major resistance level 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 $0.08023.

Failure to avoid a fall back through the $0.07578 pivot would bring the 62% FIB of $0.07480 and the first major support level at $0.07382 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.070 levels. The second major support level at $0.07133 should limit the downside.

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: $0.07382

First Major Resistance Level: $0.7827

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

This article was originally posted on FX Empire

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