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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – April 8th, 2021

EOS

EOS slid by 11.51% on Wednesday. Following a 0.85% decline on Tuesday, EOS ended the day at $5.8841.

A mixed start to the day saw EOS rise to a mid-morning intraday high $7.0794 before hitting reverse.

Falling short of the first major resistance level at $7.1078, EOS slid to late intraday low $5.7216.

The sell-off saw EOS fall through the 23.6% FIB of $6.52 and the first major support level at $6.1681.

Steering clear of the second major support level at $5.6932, EOS revisited $6.0 levels before easing back into the deep red.

At the time of writing, EOS up by 2.44% to $6.0275. A mixed start to the day saw EOS fall to an early morning low $5.8019 before rising to a high $6.1122.

EOS left the major support and resistance levels untested early on.

EOSUSD 080421 Hourly Chart

For the day ahead

EOS would need to move through the $6.2284 pivot level to support a run at the 23.6% FIB of $6.52 and the first major resistance level at $6.7351.

Support from the broader market would be needed, however, for EOS to break out from the 23.6% FIB.

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

In the event of an extended rally, EOS could test resistance at $7.00 before any pullback. The second major resistance level sits at $7.5862.

Failure to move through the $6.2284 pivot would bring the first major support level at $5.3773 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$5.00 levels. The second major support level sits at $4.8706.

Looking at the Technical Indicators

First Major Support Level: $5.3773

First Major resistance Level: $6.7351

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 9.44% on Wednesday. Reversing a 0.87% gain from Tuesday, Stellar’s Lumen ended the day at $0.4909.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.5469 before hitting reverse.

Falling short of the first major resistance level at $0.5860, Stellar’s Lumen slid to a mid-day intraday low $0.4536.

The extended sell-off saw Stellar’s Lumen fall through the first major support level at $0.4893 and the 23.6% FIB of $0.4713.

Finding late support, however, Stellar’s Lumen broke back through the first major support level and the 23.6% FIB to end the day at $0.49 levels.

At the time of writing, Stellar’s Lumen was down by 0.15% to $0.4901. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4958 before falling to a low $0.4800.

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

XLMUSD 080421 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the pivot level at $0.4971 to bring the first major resistance level at $0.5407 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen break out from $0.52 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.5469 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.60 before any pullback. The second major resistance level sits at $0.5904.

Failure to move through the $0.4971 pivot would bring the 23.6% FIB of $0.4713 and the first major support level at $0.4474 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level sits at $0.4038.

Looking at the Technical Indicators

First Major Support Level: $0.4474

First Major Resistance Level: $0.5407

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 tumbled by 10.79% on Wednesday. Following on from a 9.08% slide on Tuesday, Tron’s TRX ended the day at $0.1108.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.1270 before hitting reverse.

Falling short of the first major resistance level at $0.1388, Tron’s TRX slid to a late intraday low $0.1031.

The sell-off saw Tron’s TRX fall through the 23.6% FIB of $0.1159 and the first major support level at $0.1102.

Finding late support, Tron’s TRX broke back through to $0.11 levels. The first major support level at $0.1102 pinned Tron’s TRX back, however.

At the time of writing, Tron’s TRX was up by 5.04% to $0.1163. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1091 before rallying to a high $0.1175.

While Tron’s TRX left the major support and resistance levels untested early on, Tron’s TRX broke through the 23.6% FIB of $0.1159.

TRXUSD 080421 Hourly Chart

For the Day Ahead

Tron’s TRX need to avoid a fall back through the 23.6% FIB and the pivot level at $0.1136 to bring the first major resistance level at $0.1242 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 Wednesday’s high $0.1270 would likely cap any upside.

In the event of an extended rally Tron’s TRX could test resistance at $0.14 before any pullback. The second major resistance level sits at $0.1375.

Failure to avoid a fall back through the 23.6% FIB of $0.1159 and the $0.1136 pivot would bring the first major support level at $0.1003 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the 38.2% FIB of $0.0951. The second major support level sits at $0.0897.

Looking at the Technical Indicators

First Major Support Level: $0.1003

First Major Resistance Level: $0.1242

23.6% FIB Retracement Level: $0.1159

38.2% FIB Retracement Level: $0.0951

62% FIB Retracement Level: $0.0615

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