EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 17th, 2021

EOS

EOS fell by 1.24% on Sunday. Following an 8.25% slide from Saturday, EOS ended the week down by 3.91% to $10.1182.

After a mixed start to the day saw EOS rose to a late morning intraday high $11.2392.

Falling short of the first major resistance level at $11.4245, however, EOS slid to a late intraday low $9.4212.

EOS fell through the 38.2% FIB of $9.68 and the first major support level at $9.5857 before a partial recovery to $10.1 levels.

At the time of writing, EOS was down by 4.33% to $9.6797. A mixed start to the day saw EOS rise to an early morning high $10.1376 before sliding to a low $9.6506.


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

For the day ahead

EOS would need to move through the 38.2% FIB and the $10.2595 pivot to bring the first major resistance level at $11.0979 into play.

Support from the broader market would be needed for EOS to break back through to $11.00 levels.

Barring another extended rally throughout the day, the first major resistance level and Sunday’s high $11.2392 would likely cap the upside.

In the event of another extended breakout, EOS could test resistance at $12 levels. The second major resistance level sits at $12.0775.

Failure to move through the 38.2% FIB of $9.68 and the $10.2595 pivot would bring the first major support level at $9.2799 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $8.4415.

Looking at the Technical Indicators

First Major Support Level: $9.2799

First Major resistance Level: $11.0979

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 rallied by 4.32% on Sunday. Following on from a 1.84% gain on Saturday, Stellar’s Lumen ended the week up by 13.14% to $0.7116.

A mixed start to the day saw Stellar’s Lumen rally to a late morning intraday high and a new swing hi $0.7978.

Stellar’s Lumen broke through the first major resistance level at $0.7337 and the second major resistance level at $0.7857.

Falling short of $0.80 levels, Stellar’s Lumen slid to a late intraday low $0.6590.

Steering clear of the first major support level at $0.6399, Stellar’s lumen broke back through to $0.71 levels.

At the time of writing, Stellar’s Lumen was down by 4.12% to $0.6823. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.7139 before falling to a low $0.6800.

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

https://finance.yahoo.com/

For the day ahead

Stellar’s Lumen would need to move through the pivot level at $0.7228 to bring the first major resistance level at $0.7866 into play.

Support from the broader market would be need, however, for Stellar’s Lumen to break out from $0.75 levels.

Barring an extended rally, the first major resistance level and Sunday’s new swing hi $0.7978 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.85 before any pullback. The second major resistance level sits at $0.8616.

Failure to move through the $0.7228 pivot would bring the first major support level at $0.6478 into play.

Barring an extended sell-off on the day, however, Stellar’s Lumen should steer clear of the second major support level at $0.5840. The 23.6% FIB of $0.6160 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.6478

First Major Resistance Level: $0.7866

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 1.00% on Sunday. Following a 3.59% loss from Saturday, Tron’s TRX ended the week down by 16.76% to $0.1194.

Tracking the broader market, Tron’s TRX rallied to a late morning intraday high $0.1317.

Tron’s TRX broke through the first major resistance level at $0.1261 before hitting reverse.

Coming up against the second major resistance level at $0.1315, Tron’s TRX slid to a late intraday low $0.1145.

The reversal saw Tron’s TRX fall through the 38.2% FIB and the first major support level at $0.1167 before ending the day at $0.119 levels.

At the time of writing, Tron’s TRX was down by 1.97% to $0.1170. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1200 before falling to a low $0.1166.

While leaving the major support and resistance levels untested, Tron’s TRX tested support at the 38.2% FIB of $0.1167.

https://finance.yahoo.com/

For the Day Ahead

Tron’s TRX would need to move through the pivot at $0.1219 to bring the first major resistance level at $0.1292 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.12 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.1317 would likely cap any upside.

In the event of an extended rally Tron’s TRX could test resistance at the 23.6% FIB of $0.1426 before any pullback. The second major resistance level sits at $0.1391.

Failure to move through the $0.1219 pivot would bring the 38.2% FIB of $0.1167 and the first major support level at $0.1120 into play.

Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.10 levels. The second major support level at $0.1047 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.1120

First Major Resistance Level: $0.1292

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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