EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – February 3rd, 2021

EOS

EOS fell by 1.64% on Tuesday. Partially reversing a 4.36% rally from Monday, EOS ended the day at $3.0016.

A mixed start to the day saw EOS rise to an early morning intraday high $3.0988 before hitting reverse.

Falling short of the first major resistance level at $3.2993, EOS fell to a late afternoon intraday low $2.9488.

Steering clear of the first major support level at $2.8470, EOS broke back through to $3.00 levels to reduce the deficit.

At the time of writing, EOS was up by 0.89% to $3.0283. A mixed start to the day saw EOS fall to an early morning low $2.9474 before rising to a high $3.0877.

EOS tested the first major resistance level at $3.0840 early on.

For the day ahead

EOS would need to avoid a fall back through the $3.0164 pivot level to support another run at the first major resistance level at $3.0840.

Support from the broader market would be needed, however, for EOS to break back through to $3.08 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $3.0988 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $3.20. The second major resistance level sits at $3.1664.

Failure to avoid a fall back through the pivot level at $3.0164 would bring the first major support level at $2.9340 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$2.90 levels. The second major support level sits at $2.8664.

Looking at the Technical Indicators

First Major Support Level: $2.9340

First Major resistance Level: $3.0840

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 5.13% on Tuesday. Following on from a 5.20% gain on Monday, Stellar’s Lumen ended the day at $0.3399.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3170 before making a move.

Steering clear of the first major support level at $0.2891, Stellar’s Lumen rallied to an early afternoon intraday high $0.3497.

While falling short of the first major resistance level at $0.3614, Stellar’s Lumen broke through the 23.6% FIB of $0.3426.

A bearish end to the day, however, saw Stellar’s Lumen fall back through the 23.6% FIB to end the day at sub-$0.34 levels.

At the time of writing, Stellar’s Lumen was up by 0.03% to $0.3400. A mixed start to the day saw Stellar’s Lumen rise to an early morning low high $0.3439 before falling to a low $0.3365.

While Stellar’s Lumen left the major support and resistance levels untested early on, Stellar’s Lumen tested resistance at the 23.6% FIB.

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.3355 pivot to bring the 23.6% FIB of $0.3426 and the first major resistance level at $0.3541 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.3497.

Barring an extended crypto rally, the first major resistance level and resistance at $0.36 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.3682.

Failure to avoid a fall through the $0.3355 pivot would bring the first major support level at $0.3214 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level at $0.3028 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.3214

First Major Resistance Level: $0.3541

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 0.69% on Tuesday. Following on from Monday’s 5.53% rally, Tron’s TRX ended the day at $0.03339.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.03218 before making a move.

Steering clear of the first major support level at $0.03076, Tron’s TRX rose to a late morning intraday high $0.03403.

Falling short of the first major resistance level at $0.3576, Tron’s TRX fell back to $0.0324 levels and into the red before finding support.

Finding late support, however, Tron’s TRX revisited $0.337 levels before easing back.

At the time of writing, Tron’s TRX was down by 0.48% to $0.03323. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.03255 before rising to a high $0.03419.

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

For the Day Ahead

Tron’s TRX need to avoid a fall back through the $0.03320 pivot to bring the first major resistance level at $0.03422 back into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.034 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.03450 would likely cap any upside.

In the event of an extended rally Tron’s TRX could resistance at $0.035 before any pullback. The second major resistance level sits at $0.03505.

Failure to avoid a fall back through the $0.03320 pivot would bring the first major support level at $0.03237 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of the second major support level at $0.03135.

Looking at the Technical Indicators

First Major Support Level: $0.03237

First Major Resistance Level: $0.03422

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