EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 19th, 2021
EOS
EOS rose by 1.96% on Tuesday. Partially reversing a 9.60% slide from Monday, EOS ended the day at $9.3305.
A bullish start to the day saw EOS rise to a late morning intraday high $10.0272 before hitting reverse.
EOS broke through the 38.2% FIB of $9.68 and the first major resistance level at $9.9852.
The reversal saw EOS slide back through the first major resistance level and 38.2% FIB to an early afternoon intraday low $8.9588.
Steering clear of the first major support level at $8.4521, EOS revisited $9.46 levels before easing back.
At the time of writing, EOS was down by 15.08% to $7.9237. A mixed start to the day saw EOS rise to an early morning high $9.5495 before tumbling to a low $7.2533.
EOS fell through the major support levels before a move back through the third major support level at $7.3020.
For the day ahead
EOS would need to move back through the major support levels and the $9.488 pivot to bring the 38.2% FIB of $9.68 and the first major resistance level at $9.9189 into play.
Support from the broader market would be needed for EOS to break back through to $9.00 levels.
Barring a broad-based crypto rebound, resistance at $9.00 would likely leave EOS short of the major resistance levels.
In the event of another extended breakout, the first major resistance level at $9.9189 and resistance at $10.00 would likely cap any upside. The second major resistance level sits at $10.5072.
Failure to move back through the major support levels would bring the third major support level at $7.3020 back into play.
Barring an extended sell-off throughout, however, EOS should steer clear of sub-$7.00 levels.
Looking at the Technical Indicators
First Major Support Level: $8.8505
First Major resistance Level: $9.9189
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 0.36% on Tuesday. Following 9.50% slide on Monday, Stellar’s Lumen ended the day at $0.6457.
A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.6327 before making a move.
Steering clear of the 23.6% FIB of $0.6160 and the first major support level at $0.6069, Stellar’s Lumen rallied to a late morning intraday high $0.7000.
Stellar’s Lumen broke through the first major resistance level at $0.6975 before falling back to sub-$0.64 levels and into the red.
Finding late support, however, Stellar’s Lumen moved back through to $0.645 levels to deliver the upside on the day.
At the time of writing, Stellar’s Lumen was down by 11.88% to $0.5691. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.6559 before sliding to a low $0.5520.
Stellar’s Lumen fell through the first major support level at $0.6189 and the second major support level at $0.5922. More significantly, Stellar’s Lumen also fell through the 23.6% FIB of $0.6160.
For the day ahead
Stellar’s Lumen would need to move through the major support levels and the pivot level at $0.6595 to bring the first major resistance level at $0.6862 into play.
Support from the broader market would be need, however, for Stellar’s Lumen to break back through to $0.60 levels.
Barring an extended rebound, resistance at the $0.6595 pivot would likely cap any recovery.
In the event of an extended rebound, Stellar’s Lumen could test the first major resistance level at $0.6862. The second major resistance level sits at $0.7268.
Failure to move through back through the major support levels would bring the third major support level at $0.5249 into play.
Barring an extended sell-off throughout the day, Stellar’s Lumen should steer clear of sub-$0.50 levels. The 38.2% FIB of $0.5035 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.6189
First Major Resistance Level: $0.6862
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 rose by 3.28% on Tuesday. Partially reversing a 5.44% decline from Monday, Tron’s TRX ended the day at $0.1166.
Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.1115 before making a move.
Steering clear of the first major support level at $0.1073, Tron’s TRX rallied to a late morning intraday high $0.1202
Tron’s TRX broke through the 38.2% FIB of $0.1167 and the first major resistance level at $0.1193.
An early afternoon reversal, however, saw Tron’s TRX fall back to $0.112 levels before finding support.
Continuing to steer clear of the major support levels, Tron’s TRX revisited $0.117 levels before easing back.
The 38.2% FIB of $0.1167 pinned Tron’s TRX back late in the day.
At the time of writing, Tron’s TRX was down by 12.34% to $0.1022. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1190 before tumbling to a low $0.09823.
Coming up against the 38.2% FIB of $0.1167, Tron’s TRX slid through the day’s major support levels early on.
A partial recovery saw Tron’s TRX move back through the third major support level at $0.09870, however.
For the Day Ahead
Tron’s TRX would need move back through the major support levels and the pivot at $0.1161 to bring the 38.2% FIB of $0.1167 and the first major resistance level at $0.1207 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through the 38.2% FIB.
Barring an extended crypto rebound, the pivot and the 38.2% FIB of $0.1167 would likely cap any upside.
In the event of an extended crypt rebound, the first major resistance level at $0.1207 would likely come into play. The second major resistance level sits at $0.1248.
Failure to move back through major support levels would bring the third major support level at $0.0987 back into play.
Barring another extended sell-off throughout the day, Tron’s TRX should steer clear of sub-$0.090 levels.
Looking at the Technical Indicators
First Major Support Level: $0.1120
First Major Resistance Level: $0.1207
23.6% FIB Retracement Level: $0.1426
38.2% FIB Retracement Level: $0.1167
62% FIB Retracement Level: $0.0748
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Thanks, Bob
This article was originally posted on FX Empire
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