EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 31st, 2021
EOS
EOS slid by 4.90% on Monday. Reversing a 1.11% gain from Sunday, EOS ended the day at $4.8173.
A mixed start to the day saw EOS rise to an early morning intraday high $5.0805 before hitting reverse.
Falling short of the first major resistance level at $5.2404, EOS slid to an early afternoon intraday low $4.8023.
EOS fell through the first major support level at $4.9352.
Finding support at the second major support level at $4.8048, however, EOS revisited $5.04 levels before sliding back.
At the time of writing, EOS was down by 0.26% to $4.8050. A mixed start to the day saw EOS rise to an early morning high $4.8573 before falling to a low $4.7504.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move through the $4.9000 pivot to bring the first major resistance level at $4.9978 into play.
Support from the broader market would be needed to break back through to $4.95 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $5.0805 would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $5.20 before any pullback. The second major resistance level sits at $5.1782.
Failure to move through the $4.9000 pivot would bring the first major support level at $4.7196 into play.
Barring an extended sell-off, however, EOS should steer clear of the second major support level at $4.6218.
Looking at the Technical Indicators
First Major Support Level: $4.7196
First Major resistance Level: $4.9978
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 fell by 3.90% on Monday. Following a 1.32% decline on Sunday, Stellar’s Lumen ended the day at $0.3299.
A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3462 before hitting reverse.
Falling short of the first major resistance level at $0.3509, Stellar’s Lumen fell to a late intraday low $0.3286.
Stellar’s Lumen fell through the first major support level at $0.3385 and the second major support level at $0.3336 to end the day at sub-$0.33 levels.
At the time of writing, Stellar’s Lumen was up by 0.29% to $0.3309. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3270 before rising to a high $0.3335.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to move through the $0.3349 pivot to bring the 23.6% FIB of $0.3402 and the first major resistance level at $0.3412 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.34 levels.
Barring an extended rally, the first major resistance level and Monday’s high $0.3462 would likely cap any upside.
In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.36 before any pullback. The second major resistance level sits at $0.3525.
Failure to move through the $0.3349 pivot would bring the first major support level at $0.3236 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3173.
Looking at the Technical Indicators
First Major Support Level: $0.3236
First Major Resistance Level: $0.3412
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 fell by 2.09% on Monday. Following a 0.25% loss on Sunday, Tron’s TRX ended the day at $0.08648.
A mixed start to the day saw Tron’s TRX fall to an early afternoon intraday low $0.08533 before making a move.
Tron’s TRX fell through the first major support level at $0.08641 before rallying to a late intraday high $0.08916.
Falling short of the first major resistance level at $0.09044, however, Tron’s TRX briefly fell back through the first major support level.
At the time of writing, Tron’s TRX was down by 0.80% to $0.08578. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.08677 before falling to a low $0.08501.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to move through the $0.08699 pivot to bring the first major resistance level at $0.08865 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.088 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.08916 would likely cap any upside.
In the event of an extended rally, Tron’s TRX could test resistance at $0.092 before any pullback. The second major resistance level sits at $0.09082.
Failure to move through the $0.08699 pivot would bring the first major support level at $0.08482 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.080 levels. The second major support level at $0.08316 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.08482
First Major Resistance Level: $0.08865
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
This article was originally posted on FX Empire
