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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – March 8th, 2021

·5 min read

EOS

EOS rose by 2.92% on Sunday. Following on from a 0.93% gain on Saturday, EOS ended the week up by 9.97% to $3.8327.

A mixed start to the day saw EOS fall to an early morning intraday low $3.7079 before making a move.

Steering well clear of the first major support level at $3.6174, EOS rallied to a final hour intraday high $3.8711.

EOS broke through the first major resistance level at $3.8105 to end the day at $3.83 levels.

At the time of writing, EOS was down by 0.16% to $3.8267. A mixed start to the day saw EOS rise to an early morning high $3.9446 before falling to a low $3.7553.

EOS broke through the first major resistance level at $3.8999 early on before falling into the red.

For the day ahead

EOS would need to avoid a fall back through the $3.8039 pivot level to support a run at the first major resistance level at $3.8999 back into play.

Support from the broader market would be needed, however, for EOS to break back through to $3.85 levels.

Barring an extended crypto rally, the first major resistance level and this morning’s high $3.9446 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.00 before any pullback. The second major resistance level sits at $3.9671.

Failure to avoid a fall back through the $3.8039 pivot would bring the first major support level at $3.7367 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$3.70 levels. The second major support level sits at $3.6407.

Looking at the Technical Indicators

First Major Support Level: $3.7367

First Major resistance Level: $3.8999

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 2.74% on Sunday. Reversing a 0.79% loss from Saturday, Stellar’s Lumen ended the week up by 1.53% to $0.4126.

A bullish start to the day saw Stellar’s Lumen rally from an early morning intraday low $0.4017 to a late morning intraday high $0.4223.

Stellar’s Lumen broke through the first major resistance level at $0.4094 and the second major resistance level at $0.4172.

The reversal saw Stellar’s Lumen fall back through the resistance levels to $0.4030 before a late move back through to $0.41 levels.

Stellar’s Lumen broke back through the first major resistance level to wrap up the week at $0.412 levels.

At the time of writing, Stellar’s Lumen was down by 0.72% to $0.4097. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4218 before falling to a low $0.4082.

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 pivot level at $0.4122 to bring the first major resistance level at $0.4228 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen break out from Sunday’s high $0.4223.

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

In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.4328.

Failure to move back through the $0.4122 pivot would bring the first major support level at $0.4022 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.40 levels. The second major support level sits at $0.3916.

Looking at the Technical Indicators

First Major Support Level: $0.4022

First Major Resistance Level: $0.4228

23.6% FIB Retracement Level: $0.3426

38% FIB Retracement Level: $0.2823

62% FIB Retracement Level: $0.1850

Tron’s TRX

Tron’s TRX rose by 2.14% on Sunday. Following on from a 0.26% gain on Saturday, Tron’s TRX ended the week up by 12.62% to $0.05148.

A choppy start to the day saw Tron’s TRX fall to an early morning intraday low $0.04893 before making a move.

Steering clear of the first major support level at $0.04806, Tron’s TRX rallied to a final hour intraday high $0.05354.

Tron’s TRX broke through the first major resistance level at $0.05217 before falling back to end the day at sub-$0.052 levels.

At the time of writing, Tron’s TRX was down by 1.24% to $0.05084. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.05287 before falling back to a low $0.05027.

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

For the Day Ahead

Tron’s TRX need to move back through the pivot level at $0.05132 to bring the first major resistance level at $0.05370 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.053 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.05354 would likely cap any upside.

In the event of an extended rally Tron’s TRX could test resistance at $0.055 before any pullback. The second major resistance level sits at $0.05593.

Failure to move back through the $0.05132 pivot would bring the first major support level at $0.04909 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.048 levels. The second major support level sits at $0.04671.

Looking at the Technical Indicators

First Major Support Level: $0.04909

First Major Resistance Level: $0.05370

23.6% FIB Retracement Level: $0.03211

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

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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