EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – April 20th, 2021
EOS
EOS slid by 9.48% on Monday. Following on from a 6.35% decline on Sunday, EOS ended the day at $6.6054.
A bullish start to the day saw EOS rise to an early morning intraday high $7.5634 before hitting reverse.
Falling short of the first major resistance level at $8.2333, EOS slid to a late afternoon intraday low $6.4900.
While steering clear of the first major support level at $6.0821, EOS fell through the 23.6% FIB of $6.52.
Finding late support, however, EOS broke back through the 23.6% FIB of $6.52 to end the day at $6.60 levels.
At the time of writing, EOS was down by 5.33% to $6.2531. A mixed start to the day saw EOS rise to an early morning high $6.6650 before falling to a low $5.7344.
EOS fell through the 23.6% FIB and the first major support level at $6.2091 and the second major support level at $5.8129 early on.
For the day ahead
EOS would need to move back through the 23.6% FIB of $6.52 and the $6.8863 pivot level to support a run at the first major resistance level at $7.2825.
Support from the broader market would be needed, however, for EOS to break back through to $7.00 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $7.5634 would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $8.00 before any pullback. The second major resistance level sits at $7.9597.
Failure to move back through the 23.6% FIB of $6.52 and the $6.8863 pivot would bring the first major support level at $6.2091 back into play.
Barring another extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level at $5.8129 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $6.2091
First Major resistance Level: $7.2825
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 8.33% on Monday. Following on from a 7.83% fall on Sunday, Stellar’s Lumen ended the day at $0.5007.
A bullish start to the day saw Stellar’s Lumen rise to a mid-morning intraday high $0.5669 before hitting reverse.
Falling short of the first major resistance level at $0.6119, Stellar’s Lumen slid to a late afternoon intraday low $0.4913.
While steering clear of the first major support level at $0.4695, Stellar’s Lumen fell through the 23.6% FIB of $0.5342.
Finding late support, Stellar’s Lumen revisited $0.52 levels before easing back.
At the time of writing, Stellar’s Lumen was down by 3.33% to $0.4840. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.5035 before falling to a low $0.4802.
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 $0.5196 and the 23.6% FIB of $0.5342 to bring the first major resistance level at $0.5480 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen break back through to $0.54 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.5669 would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.60. The second major resistance level sits at $0.5952.
Failure to move through the $0.5196 pivot and the 23.6% FIB of $0.5342 would bring the first major support level at $0.4724 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.45 levels. the second major support level sits at $0.4440.
Looking at the Technical Indicators
First Major Support Level: $0.4724
First Major Resistance Level: $0.5480
23.6% FIB Retracement Level: $0.5342
38% FIB Retracement Level: $0.4373
62% FIB Retracement Level: $0.2808
Tron’s TRX
Tron’s TRX slid by 8.82% on Monday. Following on from a 7.72% decline on Sunday, Tron’s TRX ended the day at $0.1303.
A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.1491 before hitting reverse.
While falling short of the first major resistance level at $0.1606, Tron’s TRX broke through the 23.6% FIB of $0.1426.
The reversal, however, saw Tron’s TRX slide to a mid-afternoon intraday low $0.1297.
While steering clear of the first major support level at $0.1235, Tron’s TRX fell back through the 23.6% FIB of $0.1426.
Finding late support, Tron’s TRX revisited $0.137 levels before easing back.
At the time of writing, Tron’s TRX was down by 7.00% to $0.1212. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1312 before sliding to a low $0.1165.
Tron’s TRX fell through the first major support level at $0.1236 to test the second major support level at $0.1170 and support at the 38.2% FIB of $0.1167.
For the Day Ahead
Tron’s TRX would need to move back through first major support level at $0.1236 and the $0.1364 pivot to bring the first major resistance level at $0.1430 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back out from the 23.6% FIB of $0.1426.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.1491 would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at $0.16 before any pullback. The second major resistance level sits at $0.1558.
Failure to move back through the first major support level and through the $0.1364 pivot would bring the second major support level at $0.1170 and the 38.2% FIB back into play.
Barring an extended sell-off, Tron’s TRX should steer clear of the sub-$0.10 levels. The third major support level sits at $0.0976.
Looking at the Technical Indicators
First Major Support Level: $0.1236
First Major Resistance Level: $0.1430
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
