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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 16th, 2021

EOS

EOS fell by 2.02% on Tuesday. Partially reversing a 4.01% gain from Monday, EOS ended the day at $5.1906.

A mixed start to the day saw EOS rise to a late morning intraday high $5.3947 before hitting reverse.

Falling short of the first major resistance level at $5.4345, EOS slid to a late intraday low $5.1092.

Steering clear of the first major support level at $5.0565, EOS revisited $5.22 levels before easing back.

At the time of writing, EOS was down by 0.63% to $5.1578. A bearish start to the day saw EOS fall from an early morning high $5.1904 to a low $5.1361.

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

EOSUSD 160621 Hourly Chart

For the day ahead

EOS would need to move through the $5.2315 pivot to bring the first major resistance level at $5.3538 into play.

Support from the broader market would be needed for EOS to break back through to $5.30 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $5.3947 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $5.5170.

Failure to move through the $5.2315 pivot and would bring the first major support level at $5.0683 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$5.00 levels. The second major support level sits at $4.9460.

Looking at the Technical Indicators

First Major Support Level: $5.0683

First Major resistance Level: $5.3538

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 fell by 2.83% on Tuesday. Following a 0.49% decline on Monday, Stellar’s Lumen ended the day at $0.3336.

A mixed start to the day saw Stellar’s Lumen rise to a mid-morning intraday high $0.3519 before hitting reverse.

Falling short of the first major resistance level at $0.3532, Stellar’s Lumen slid to a mid-afternoon intraday low $0.3298.

Finding support at the first major support level at $0.3301, Stellar’s Lumen revisited $0.343 levels before sliding back into the red.

At the time of writing, Stellar’s Lumen was down by 0.74% to $0.3311. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.3337 to a low $0.3286.

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

XLMUSD 160621 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3384 pivot to bring the first major resistance level at $0.3471 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.34 levels.

Barring an extended rally, the first major resistance level and Tuesday’s high $0.3519 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.37 before any pullback. The second major resistance level sits at $0.3605.

Failure to move through the $0.3384 pivot would bring the first major support level at $0.3250 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3163. The 62% FIB of $0.3216 should limit the downside.

A sustained fall through the 62% FIB of $0.3216 would form a near-term bearish trend from 16th May’s swing hi $0.7978.

Looking at the Technical Indicators

First Major Support Level: $0.3250

First Major Resistance Level: $0.3471

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 rose by 0.24% on Tuesday. Following a 0.46% gain on Monday, Tron’s TRX ended the day at $0.07191.

A mixed start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.07333 before hitting reverse.

Coming up against the first major resistance level at $0.07324, Tron’s TRX slid to a mid-afternoon intraday low $0.07065.

Steering clear of the first major support level at $0.7008, Tron’s TRX revisited $0.073 levels before easing back.

The first major resistance level at $0.07324 continued to pin Tron’s TRX back on the day.

At the time of writing, Tron’s TRX was down by 0.33% to $0.07168. A bearish start to the day saw fall from an early morning high $0.07191 to a low $0.07084.

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

TRXUSD 160621 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through $0.07196 pivot to bring the first major resistance level at $0.07328 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.073 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.07333 would likely cap any upside.

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at the 62% FIB of $0.07480 before any pullback. The second major resistance level sits at $0.07464.

Failure to move through the $0.07196 pivot would bring the first major support level at $0.07060 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.069 levels. The second major support level at $0.06928 should limit the downside.

A sustained fall back through the 62% FIB of $0.0748 would form a near-term bearish trend from April’s swing hi $0.1844.

Looking at the Technical Indicators

First Major Support Level: $0.07060

First Major Resistance Level: $0.07328

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