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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 9th, 2021

EOS

EOS fell by 2.55% on Tuesday. Following an 11.32% slide on Monday, EOS ended the day at $5.0519.

A bullish start to the day saw EOS rise to an early morning intraday high $5.2590 before hitting reverse.

Falling short of the first major resistance level at $5.7442, EOS slid to a mid-afternoon intraday low $4.5070.

The extended sell-off saw EOS fall through the first major support level at $4.8553 and the second major support level at $4.5253.

Finding late support, however, EOS broke back through the major support levels to end the day at $5.00 levels.

At the time of writing, EOS was down by 3.16% to $4.8919. A mixed start to the day saw EOS rise to an early morning high $5.0801 before falling to a low $4.7524.

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

EOSUSD 090621 Hourly Chart

For the day ahead

EOS would need to move back through the $4.9393 pivot to bring the first major resistance level at $5.3716 into play.

Support from the broader market would be needed for EOS to break out from Tuesday’s high $5.2590.

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 the second major resistance level at $5.6913.

Failure to move back through the $4.9393 pivot and would bring the first major support level at $4.6196 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $4.1834.

Looking at the Technical Indicators

First Major Support Level: $4.6196

First Major resistance Level: $5.3716

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 0.89% on Tuesday. Following an 8.99% slide on Monday, Stellar’s Lumen ended the day at $0.3496.

After a choppy start to the day, Stellar’s Lumen fell to a mid-afternoon intraday low $0.3102 before finding support.

Stellar’s Lumen fell through the first major support level at $0.3288 and the second major support level at $0.3113.

The extended sell-off also saw Stellar’s Lumen fall through the 62% FIB of $0.3216.

Finding late support, however, Stellar’s Lumen broke back through the 62% FIB and the major support levels to end the day at $0.34 levels.

At the time of writing, Stellar’s Lumen was down by 4.56% to $0.3336. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3508 before falling to a low $0.3245.

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

XLMUSD 090621 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move back through the $0.3389 pivot to bring the first major resistance level at $0.3675 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.3568.

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 $0.38 before any pullback. The second major resistance level sits at $0.3855.

Failure to move back through the $0.3389 pivot would bring the 62% FIB of $0.3216 and the first major support level at $0.3209 back into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level sits at $0.2923.

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: $0.3209

First Major Resistance Level: $0.3675

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 1.37% on Tuesday. Partially reversing a 7.93% slide from Monday, Tron’s TRX ended the day at $0.07250.

After a mixed start to the day, Tron’s TRX fell to a mid-afternoon intraday low $0.06703 before making a move.

Tron’s TRX fell through the first major support level at $0.06868 before rising to a late intraday high $0.07351.

Falling short of the 62% FIB of $0.07480 and the first major resistance level at $0.07668, Tron’s TRX eased back to end the day at sub-$0.073 levels.

At the time of writing, Tron’s TRX was down by 1.26% to $0.07159. A choppy start to the day saw Tron’s TRX rise to an early morning high $0.07315 before falling to a low $0.06937.

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

TRXUSD 090621 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through $0.07101 pivot to bring the 62% FIB of $0.07480 and the first major resistance level at $0.07500 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.07351.

Barring an extended crypto rally, the 62% FIB of $0.07480 and 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 $0.078 before any pullback. The second major resistance level sits at $0.07749.

A fall back through the $0.07101 pivot would bring the first major support level at $0.06852 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.065 levels. The second major support level sits at $0.06453.

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: $0.06852

First Major Resistance Level: $0.07500

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