EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – February 9th, 2021
EOS
EOS rose by 4.45% on Monday. Following on from a 7.04% rally on Sunday, EOS ended the day at $3.5973.
A bullish start to the day saw EOS rally to a mid-day intraday high $3.7556 before hitting reverse.
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EOS broke through the first major resistance level at $3.6863 before sliding to an early afternoon intraday low $3.2151.
Steering clear of the first major support level at $3.1143, EOS revisited $3.68 levels before easing back.
The rebound saw EOS come up against the first major resistance level before ending the day at sub-$3.60 levels.
At the time of writing, EOS was down by 0.19% to $3.5904. A mixed start to the day saw EOS rise to an early morning high $3.5915 before falling to a low $3.5556.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall through the $3.5227 pivot level to support a run at the first major resistance level at $3.8302.
Support from the broader market would be needed, however, for EOS to break out from Monday’s high $3.7556.
Barring an extended crypto rally, the first major resistance level and resistance at $3.85 would likely cap any upside.
In the event of an extended rally, EOS could test the second major resistance level at $4.00. The second major resistance level sits at $4.0632.
Failure to avoid a fall through the pivot level at $3.5227 would bring the first major support level at $3.2897 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level sits at $2.9822.
Looking at the Technical Indicators
First Major Support Level: $3.2897
First Major resistance Level: $3.8302
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 2.85% on Monday. Following on from a 1.92% gain on Sunday, Stellar’s Lumen ended the day at $0.3971.
A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3737 before making a move.
Steering clear of the first major support level at $0.3585, Stellar’s Lumen rallied to an early afternoon intraday high $0.4040.
Falling short of the first major resistance level at $0.4184, Stellar’s Lumen fell back to end the day at sub-$0.40 levels.
At the time of writing, Stellar’s Lumen was down by 0.52% to $0.3950. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.39999 before falling to a low $0.3945.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to avoid a fall through the $0.3916 pivot to bring the first major resistance level at $0.4095 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.4040.
Barring an extended crypto 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 $0.45 before any pullback. The second major resistance level sits at $0.4219.
Failure to move avoid a fall through the $0.3916 pivot would bring the first major support level at $0.3792 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.3613.
Looking at the Technical Indicators
First Major Support Level: $0.3792
First Major Resistance Level: $0.4095
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 jumped by 11.70% on Monday. Following on from a 1.13% gain on Sunday, Tron’s TRX ended the day at $0.04038.
A mixed start to the day saw Tron’s TRX rise to a mid-day high $0.04081 before hitting reverse.
Tron’s TRX broke through the first major resistance level at $0.03790 and the second major resistance level at $0.04004.
The reversal saw Tron’s TRX slide to an early afternoon intraday low $0.03430 before finding support.
Steering clear of the first major support level at $0.03370, Tron’s TRX surged to a final hour intraday high $0.04251.
Tron’s TRX broke back through the first major resistance level and second major resistance level.
A late pullback saw Tron’s TRX test support at the second major resistance level at $0.04004 before ending the day at $0.0403 levels.
At the time of writing, Tron’s TRX was up by 1.71% to $0.04107. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.03979 before rising to a high $0.04233.
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 through the $0.03906 pivot to bring the first major resistance level at $0.04383 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the 38.2% FIB of $0.04280.
Barring an extended crypto rally, the first major resistance level and resistance at $0.045 would likely cap any upside.
In the event of an extended rally Tron’s TRX could test the second major resistance level at $0.04727.
Failure to avoid a fall through the $0.03906 pivot would bring the first major support level at $0.03562 into play.
Barring an extended sell-off on the day, Tron’s TRX should steer clear of sub-$0.035 levels. The second major support level sits at $0.03085.
Looking at the Technical Indicators
First Major Support Level: $0.03562
First Major Resistance Level: $0.04383
23.6% FIB Retracement Level: $0.03211
38.2% FIB Retracement Level: $0.0428
62% FIB Retracement Level: $0.0648
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Thanks, Bob