EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 18th, 2021
EOS
EOS slid by 9.60% on Monday. Following a 1.24% decline on Sunday, EOS ended the day at $9.1425.
A mixed start to the day saw EOS rise to a late morning intraday high $10.1376 before hitting reverse.
Falling short of the first major resistance level at $11.0979, EOS slid to a mid-morning intraday low $8.6045.
The reversal saw EOS fall through the 38.2% FIB of $9.68 and the first major support level at $9.2799.
Steering clear of the second major support level at $8.4415, EOS briefly broke back through the 38.2% FIB before sliding back to sub-$9.00 levels.
Finding late support, however, EOS moved back through to $9.00 levels to reduce the deficit.
At the time of writing, EOS was up by 1.96% to $9.3218. A mixed start to the day saw EOS fall to an early morning low $8.9873 before rising to a high $9.3624.
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to avoid a fall back through the $9.2949 pivot to bring the 38.2% FIB of $9.68 and the first major resistance level at $9.9852 into play.
Support from the broader market would be needed for EOS to break back through to $9.90 levels.
Barring another extended rally throughout the day, the first major resistance level and Monday’s high $10.1376 would likely cap the upside.
In the event of another extended breakout, EOS could test resistance at $11.00 levels. The second major resistance level sits at $10.8280.
Failure to avoid a fall back through the $9.2949 pivot would bring the first major support level at $8.4521 into play.
Barring another extended sell-off, however, EOS should steer clear of the second major support level at $7.7618.
Looking at the Technical Indicators
First Major Support Level: $8.4521
First Major resistance Level: $9.9852
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 slid by 9.50% on Monday. Reversing a 4.32% gain from Sunday, Stellar’s Lumen ended the day at $0.6440.
A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.7139 before hitting reverse.
Falling well short of the first major resistance level at $0.7866, Stellar’s Lumen slid to a mid-morning intraday low $0.6233.
The reversal saw Stellar’s Lumen fall through the first major support level at $0.6478 before revisiting $0.70 levels.
A 2nd sell-off, however, saw Stellar’s Lumen slide back through the first major support level at $0.6478 to end the day at $0.644 levels.
At the time of writing, Stellar’s Lumen was up by 1.64% to $0.6545. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.6327 before rising to a high $0.6550.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to move through the pivot level at $0.6604 to bring the first major resistance level at $0.6975 into play.
Support from the broader market would be need, however, for Stellar’s Lumen to break back through to $0.69 levels.
Barring an extended rally, the first major resistance level and resistance at $0.70 would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at Sunday’s new swing hi $0.7978. The second major resistance level sits at $0.7510.
Failure to move through the $0.6604 pivot would bring the 23.6% FIB of $0.6160 and the first major support level at $0.6069 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.5698.
Looking at the Technical Indicators
First Major Support Level: $0.6069
First Major Resistance Level: $0.6975
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 5.44% on Monday. Following a 1.00% loss on Sunday, Tron’s TRX ended the day at $0.1129.
Tracking the broader market, Tron’s TRX rose to an early morning high $0.1200 before hitting reverse.
Falling short of the first major resistance level at $0.1292, Tron’s TRX slid to a mid-morning intraday low $0.1081.
The sell-off saw Tron’s TRX slide through the 38.2% FIB of $0.1167 and the first major support level at $0.1120.
Steering clear of the second major support level at $0.1047, Tron’s TRX struck a mid-day intraday high $0.1201 before hitting reverse.
Tron’s TRX fell back through the 38.2% FIB and the first major support level at $0.1120 before a partial recovery to $0.1129 levels.
At the time of writing, Tron’s TRX was up by 1.30% to $0.1143. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1115 before rising to a high $0.1148.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to avoid a fall back through the pivot at $0.1137 to bring the 38.2% FIB of $0.1167 and the first major resistance level at $0.1193 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the 38.2% FIB.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.1201 would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at $0.13 before any pullback. The second major resistance level sits at $0.1257.
Failure to avoid a fall back through the $0.1137 pivot would bring the first major support level at $0.1073 into play.
Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.10 levels. The second major support level at $0.1017 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.1073
First Major Resistance Level: $0.1193
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
