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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 24th, 2021

EOS

EOS slid by 15.95% on Sunday. Following on from an 8.29% fall on Saturday, EOS ended the week down by 57.56% to $4.2940.

A mixed start to the day saw EOS rise to an early morning intraday high $5.3205 before hitting reverse.

Falling short of the first major resistance level at $5.5502, EOS slid to a late afternoon intraday low $3.5697.

The reversal saw EOS slide the day’s major support levels.

Finding late afternoon support, however, EOS broke back through the third major support level at $3.6915 to end the day at $4.33 levels.

At the time of writing, EOS was up by 1.25% to $4.3478. A mixed start to the day saw EOS fall to an early morning low $4.2963 before rising to a high $4.4550.

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

EOSUSD 240521 Hourly Chart

For the day ahead

EOS would need to move back through the $4.3947 pivot to bring the first major resistance level at $5.2198 into play.

Support from the broader market would be needed for EOS to break back through to $5.0 levels.

Barring a broad-based crypto rebound, the first major resistance level and Sunday’s high $5.3205 would likely cap any upside.

In the event of an extended breakout, EOS could test the second major resistance level at $6.1455.

Failure to move back through the $4.3947 pivot and would bring the first major support level at $3.4690 into play.

Barring another extended sell-off, however, EOS should steer clear of the second major support level at $2.6439.

Looking at the Technical Indicators

First Major Support Level: $3.4690

First Major resistance Level: $5.2198

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 6.63% on Sunday. Following on from a 7.32% decline on Saturday, Stellar’s Lumen ended week down by 48.90% to $0.3636.

A mixed start to the day saw Stellar’s Lumen rose to an early morning intraday high $0.4015 before hitting reverse.

Falling short of the first major resistance level at $0.4176, Stellar’s Lumen slumped to a late afternoon intraday low $0.2743.

The sell-off saw Stellar’s Lumen fall through the day’s major support levels and also fell through the 62% FIB of $0.3216.

Finding late support, however, Stellar’s Lumen broke back through the third major support level at $0.2889 and the 62% FIB to end the day at $0.36 levels.

At the time of writing, Stellar’s Lumen was up by 0.50% to $0.3654. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3766 before falling to a low $0.3623.

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

XLMUSD 240521 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid the $0.3465 pivot to bring the first major resistance level at $0.4186 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.40 levels.

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

In the event of a broad-based crypto rebound, Stellar’s Lumen could test the second major resistance level at $0.4737.

Failure to avoid the $0.3465 pivot would bring the 62% FIB of $0.3216 and the first major support level at $0.2914 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.2193.

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: $0.2914

First Major Resistance Level: $0.4186

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 16.57% on Sunday. Following a 2.97% decline on Saturday, Tron’s TRX ended the week down by 47.08% to $0.06318.

Tracking the broader market, Tron’s TRX rose to an early morning intraday high $0.07730 before hitting reverse.

Falling short of the first major resistance level at $0.07993, Tron’s TRX slid to a late afternoon intraday low $0.05541.

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

Finding late support, however, Tron’s TRX broke back through the third major support level to end the day at $0.063 levels.

At the time of writing, Tron’s TRX was up by 1.10% to $0.06388. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.06287 before rising to a high $0.06500.

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

TRXUSD 240521 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the pivot at $0.06530 to bring the 62% FIB of $0.07480 and the first major resistance level at $0.07518 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.070 levels.

Barring an extended crypto rally, the 62% FIB and the first major resistance level would likely cap any upside.

In the event of a broad-based crypto rebound, Tron’s TRX could test resistance at $0.080 before any pullback. The second major resistance level sits at $0.08719.

Failure to move through the $0.06530 pivot would bring the first major support level at $0.05329 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.050 levels. The second major support level sits at $0.04341.

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: $0.0.05329

First Major Resistance Level: $0.07518

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