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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 3rd, 2021

EOS

EOS rose by 1.13% on Wednesday. Partially reversing a 4.98% slide from Tuesday, EOS ended the day at $6.3774.

A bearish start to the day saw EOS fall to an early morning intraday low $6.1237 before making a move.

Steering clear of the first major support level at $5.9980, EOS rallied to a late afternoon intraday high $6.5491.

While falling short of the first major resistance level at $6.6901, EOS slid briefly broke through the 23.6% FIB of $6.52.

A late pullback, however, saw EOS fall back through the 23.6% FIB to end the day at sub-$2.64 levels.

At the time of writing, EOS was down by 1.44% to $6.2856. A mixed start to the day saw EOS rise to an early morning high $6.4132 before falling to a low $6.2745.

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

EOSUSD 030621 Hourly Chart

For the day ahead

EOS would need to move back through the $6.3501 pivot to bring the 23.6% FIB of $6.52 and the first major resistance level at $6.5764 into play.

Support from the broader market would be needed for EOS to break out from Wednesday’s high $6.5491.

Barring a broad-based 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 $6.7755.

Failure to move back through the $6.3501 pivot and would bring the first major support level at $6.1510 into play.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $5.9247.

Looking at the Technical Indicators

First Major Support Level: $6.1510

First Major resistance Level: $6.5764

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 0.07% on Wednesday. Following a 3.90% gain on Tuesday, Stellar’s Lumen ended the day at $0.4188.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.4047 before making a move.

Steering clear of the first major support level at $0.3851, Stellar’s Lumen rose to a mid-afternoon intraday high $0.4350.

Falling short of the first major resistance level at $0.4502, however, Stellar’s Lumen eased back to end the day at sub-$0.42 levels.

At the time of writing, Stellar’s Lumen was down by 1.00% to $0.4146. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4230 before falling to a low $0.4141.

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

XLMUSD 030621 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move back through the $0.4195 pivot to bring the first major resistance level at $0.4343 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.43 levels.

Barring an extended rally, the first major resistance level and Wednesday’s high $0.4350 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test the second major resistance level at $0.4498.

Failure to move back through the $0.4195 pivot would bring the first major support level at $0.4040 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.40 levels. The second major support level sits at $0.3892.

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: $0.4040

First Major Resistance Level: $0.4343

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 2.44% on Wednesday. Reversing a 0.70% decline from Tuesday, Tron’s TRX ended the day at $0.07817.

Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.07438 before making a move.

While steering clear of the first major support level at $0.7382, Tron’s TRX fell back through the 62% FIB of $0.07480.

Finding early support, however, Tron’s TRX rallied to a mid-afternoon intraday high $0.07988.

Tron’s TRX broke back through the 62% FIB and through the first major resistance level at $0.07827.

Coming within range of the second major resistance level at $0.08023, Tron’s TRX fell back through the first major resistance level to $0.077 levels.

Finding late support, however, Tron’s TRX broke back through the first major resistance level at $0.07827 before ending the day at $0.0781 levels

At the time of writing, Tron’s TRX was down by 0.96% to $0.07742. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.07875 before falling to a low $0.07727.

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

TRXUSD 030621 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move back through $0.07748 pivot to bring the first major resistance level at $0.08057 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.07988.

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

In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.085 before any pullback. The second major resistance level sits at $0.08298.

Failure to move back through the $0.07748 pivot would bring the 62% FIB of $0.07480 and the first major support level at $0.07507 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.070 levels. The second major support level at $0.07198 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: $0.07507

First Major Resistance Level: $0.08057

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