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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 13th, 2021

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·6 min read
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EOS

EOS tumbled by 28.5% on Wednesday. Partially reversing a 56.55% surge from Tuesday, EOS ended the day at $10.3941.

A bullish start to the day saw EOS rise to an early morning intraday high $14.9300 before hitting reverse.

While falling short of first major resistance level at $16.49, EOS briefly broke through the 62% FIB of $14.77.

The reversal saw EOS slide through the first major support level at $10.61 to a late intraday low $10.1637.

Steering clear of sub-$10.00 support levels, EOS found support to end the day at $10.3 levels.

At the time of writing, EOS was up by 6.37% to $11.0040. A mixed start to the day saw EOS fall to an early morning low $9.2304 before climbing to an early high $11.3477.

While leaving the major support and resistance levels untested, EOS briefly fell through the 38.2% FIB of 9.68.

For the day ahead

EOS would need to move through the pivot at $11.83 to bring the first major resistance level at $13.50 and the 62% FIB of $14.77 into play.

Support from the broader market would be needed for EOS to break back through to $13 levels.

Barring another extended rally throughout the day, the first major resistance level and the 62% FIB would likely cap the upside.

In the event of another extended breakout, EOS could test resistance at $17 levels. The second major resistance level sits at $16.60.

Failure to move through the $11.83 pivot would bring the 38.2% FIB of $9.68 and the first major support level at $8.73 into play.

Barring an extended sell-off, however, EOS should steer well clear of sub-$8.00 levels. The second major support level sits at $7.06.

Looking at the Technical Indicators

First Major Support Level: $8.73

First Major resistance Level: $13.50

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 slid by 19.39% on Wednesday. Reversing an 11.72% rally from Tuesday, Stellar’s Lumen ended the day at $0.5932.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.7340 before hitting reverse.

Falling short of the first major resistance level at $0.7783, Stellar’s Lumen slid to a late intraday low $0.5850.

Stellar’s Lumen fell through the first major support level at $0.6567 and the 23.6% FIB of $0.6024 to end the day at $0.59 levels.

At the time of writing, Stellar’s Lumen was up 7.04% to $0.6359. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.5529 before rising to a high $0.6371.

While leaving the major support and resistance levels untested, Stellar’s Lumen broke back through the 23.6% FIB of $0.6024.

For the day ahead

Stellar’s Lumen would need to move through the pivot level at $0.6391 to bring the first major resistance level at $0.6931 into play.

Support from the broader market would be need, however, for Stellar’s Lumen to break out from $0.65 levels.

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

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.80 before any pullback. The second major resistance level sits at $0.7931. Stellar’s Lumen would need plenty of support, however, to breakout from Monday’s new swing hi $0.7800.

Failure to move through the $0.6391 pivot would bring the 23.6% FIB of $0.6024 and the first major support level at $0.5391 into play.

Barring an extended sell-off on the day, however, Stellar’s Lumen should steer clear of sub-$0.50 levels and the 38.2% FIB of $0.4925. The second major support level sits at $0.4851.

Looking at the Technical Indicators

First Major Support Level: $0.5391

First Major Resistance Level: $0.6931

23.6% FIB Retracement Level: $0.6024

38% FIB Retracement Level: $0.4925

62% FIB Retracement Level: $0.3148

Tron’s TRX

Tron’s TRX fell by 14.59% on Wednesday. Reversing a 9.61% gain from Tuesday, Tron’s TRX ended the day at $0.1188.

A bullish start to the day saw Tron’s TRX rally to an early morning intraday high $0.1477 before hitting reverse.

Tron’s TRX broke through the 23.6% FIB of $0.1426 and the first major resistance level at $0.1457.

The reversal saw Tron’s TRX slide through the first major support level at $0.1268 to a late intraday low $0.1170.

Finding support at the 38.2% FIB of $0.1167, Tron’s TRX ended the day at $0.118 levels.

At the time of writing, Tron’s TRX was up by 2.75% to $0.1216. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1031 before rising to a high $0.1252.

Tron’s TRX fell through 38.2S% FIB and the first major support level at $0.1080 before moving back through the 38.2% FIB of $0.1167.

For the Day Ahead

Tron’s TRX would need to move through the pivot at $0.1278 to bring the first major resistance level at $0.1387 and the 23.6% FIB of $0.1426 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back out from $0.1350 levels.

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB would likely cap any upside.

In the event of an extended rally Tron’s TRX could test resistance at $0.16 before any pullback. The second major resistance level sits at $0.1585.

Failure to move through the $0.1278 pivot would bring the 38.2% FIB of $0.1167 and the first major support level at $0.1080 back into play.

Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.10 levels. The second major support level sits at $0.09713.

Looking at the Technical Indicators

First Major Support Level: $0.1080

First Major Resistance Level: $0.1387

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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