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

EOS

EOS slid by 11.32% on Monday. Reversing a 1.25% gain from Sunday, EOS ended the day at $5.1854.

A bullish start to the day saw EOS rise to an early morning intraday high $5.9730 before hitting reverse.

EOS broke through the first major resistance level at $5.7286 before sliding to a late intraday low $5.0841.

The extended sell-off saw EOS fall through the day’s major support levels.

In spite of briefly revisiting $9.30 levels, EOS failed to break back through the third major support level at $5.3809.

At the time of writing, EOS was down by 1.68% to $5.0984. A mixed start to the day saw EOS rise to an early morning high $5.2890 before falling to a low $5.0888.

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

EOSUSD 080621 Hourly Chart

For the day ahead

EOS would need to move through the $5.4142 pivot to bring the first major resistance level at $5.7442 into play.

Support from the broader market would be needed for EOS to break back through to $5.50 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $5.9730 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $6.3031.

Failure to move through the $5.4142 pivot and would bring the first major support level at $4.8553 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $4.5253.

Looking at the Technical Indicators

First Major Support Level: $4.8553

First Major resistance Level: $5.7442

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 8.99% on Monday. Reversing a 1.44% gain from Sunday, Stellar’s Lumen ended the day at $0.3462.

Tracking the broader market, Stellar’s Lumen rose to an early morning intraday high $0.3923.

Stellar’s Lumen broke through the first major resistance level at $0.3888 before sliding to a late intraday low $0.3431.

The sell-off saw Stellar’s Lumen fall through the day’s major support levels.

Steadying late in the day, Stellar’s Lumen briefly broke back through the third major support level at $0.3463 before ending the day at $0.3462.

At the time of writing, Stellar’s Lumen was down by 1.99% to $0.3393. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3526 before falling to a low $0.3384.

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

XLMUSD 080621 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.3605 pivot to bring the first major resistance level at $0.3780 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.37 levels.

Barring an extended rally, the first major resistance level 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 $0.4097.

Failure to move through the $0.3605 pivot would bring the first major support level at $0.3288 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3113. 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: $0.3288

First Major Resistance Level: $0.3780

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 slid by 7.93% on Monday. Reversing a 2.66% gain from Sunday, Tron’s TRX ended the day at $0.07154.

A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.07897 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.07864 before sliding to a late intraday low $0.07097.

The reversal saw Tron’s TRX fall through the day’s major support levels and the 62% FIB of $0.07480.

At the time of writing, Tron’s TRX was down by 0.21% to $0.07139. A choppy start to the day saw Tron’s TRX rise to an early morning high $0.07289 before falling to a low $0.07080.

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

TRXUSD 080621 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through $0.07383 pivot and the 62% FIB of $0.07480 to bring the first major resistance level at $0.07668 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 62% FIB.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.07897 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 $0.08183.

Failure to move through the $0.07383 pivot and the 62% FIB would bring the first major support level at $0.06868 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.06583.

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: $0.06868

First Major Resistance Level: $0.07668

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