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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 7th, 2021

EOS

EOS rose by 1.25% on Sunday. Partially reversing a 4.08% decline from Saturday, EOS ended the week down by 3.26% to $5.8467.

A bearish start to the day saw EOS fall to an early morning intraday low $5.7220 before making a move.

Steering clear of the first major support level at $5.5393, EOS rose to an early morning intraday high $5.9516.

Falling short of the first major resistance level at $6.1162, EOS fell back to sub-$5.77 levels before a late move back through to $5.84 levels.

At the time of writing, EOS was up 1.26% to $5.9206. A mixed start to the day saw EOS fall to an early morning low $5.7488 before rising to a high $5.9728.

EOS broke through the first major resistance level at $5.9582 early on.

EOSUSD 070621 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the $5.8401 pivot to bring the first major resistance level at $5.9582 back into play.

Support from the broader market would be needed for EOS to break back through to $5.95 levels.

Barring a broad-based crypto rally, the first major resistance level and morning high $5.9728 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $6.20 before any pullback. The second major resistance level sits at $6.0697.

A fall back through the $5.8401 pivot and would bring the first major support level at $5.7286 into play.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $5.6105.

Looking at the Technical Indicators

First Major Support Level: $5.7286

First Major resistance Level: $5.9582

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 1.44% on Sunday. Partially reversing a 2.52% fall from Saturday, Stellar’s Lumen ended the week up by 1.48% to $0.3804.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3717 before making a move.

Steering clear of the first major support level at $0.3571, Stellar’s Lumen rose to a mid-morning intraday high $0.3887.

Falling short of the first major resistance level at $0.3996, however, Stellar’s Lumen eased back to sub-$0.38 levels.

Finding late support, however, Stellar’s Lumen moved back through to $0.38 levels to deliver the upside on the day.

At the time of writing, Stellar’s Lumen was up by 1.62% to $0.3865. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3780 before rising to a high $0.3877.

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

XLMUSD 070621 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.3803 pivot to bring the first major resistance level at $0.3888 back into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.3877.

Barring an extended rally, the first major resistance level and Sunday’s high $0.3887 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 before any pullback. The second major resistance level sits at $0.3973.

A fall back through the $0.3803 pivot would bring the first major support level at $0.3718 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.36 levels. The second major support level at $0.3633 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: $0.3718

First Major Resistance Level: $0.3888

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 2.66% on Sunday. Reversing a 2.23% decline from Saturday, Tron’s TRX ended the week up by 8.34% to $0.07770.

Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.07515 before making a move.

Steering clear of the first major support level at $0.07311, Tron’s TRX rallied to a late morning intraday high $0.07783.

Falling short of the first major resistance level at $0.07917, however, Tron’s TRX eased back to sub-$0.076 levels.

Finding late support, however, Tron’s TRX moved back through to $0.077 levels to deliver the upside on the day.

At the time of writing, Tron’s TRX was up by 0.46% to $0.07801. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.07604 before rising to a high $0.07903.

Tron’s TRX broke through the first major resistance level at $0.07864 early on.

TRXUSD 070621 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through $0.07689 pivot to bring the first major resistance level at $0.07864 back into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.07850 levels.

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 $0.080 before any pullback. The second major resistance level sits at $0.07957.

A fall back through the $0.07689 pivot would bring the first major support level at $0.07596 and the 62% FIB of $0.07480 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.07421.

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: $0.07596

First Major Resistance Level: $0.07864

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