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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 27th, 2021

EOS

EOS rallied by 12.99% on Wednesday. Following a 1.03% gain on Tuesday, EOS ended the day at $6.4446.

A mixed start to the day saw EOS fall to an early morning intraday low $5.5506 before making a move.

Steering clear of the first major support level at $5.1680, EOS rallied to a late morning intraday high $6.5046.

EOS broke through the first major resistance level at $6.1376 before falling back to sub-$6.00 levels.

Finding late support, however, EOS broke back through the first major resistance level to end the day at $6.44 levels.

At the time of writing, EOS was up by 1.63% to $6.5497. A mixed start to the day saw EOS fall to an early morning low $6.4039 before rising to a high $6.7729.

While leaving the major support and resistance levels untested early on, EOS broke through the 23.6% FIB of $6.52.

EOSUSD 270521 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the 23.6% FIB and the $6.1666 pivot to bring the first major resistance level at $6.7826 into play.

Support from the broader market would be needed for EOS to break out from the morning high $6.7729.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

In the event of another extended rally, EOS could test resistance at $7.00 levels. The second major resistance level sits at $7.1206.

A fall through the 23.6% FIB of $6.52 and the $6.1666 pivot and would bring the first major support level at $5.8286 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level at $5.2126.

Looking at the Technical Indicators

First Major Support Level: $5.8286

First Major resistance Level: $6.7826

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 3.28% on Wednesday. Reversing a 2.43% decline from Tuesday, Stellar’s Lumen ended day at $0.4435.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.4210 before making a move.

Steering clear of the first major support level at $0.4037, Stellar’s Lumen rose to a late morning intraday high $0.4703.

Stellar’s Lumen broke through the first major resistance level at $0.4583 before a slide back to sub-$0.43 levels.

Finding late support, however, Stellar’s Lumen moved back through to $0.44 levels to deliver the upside on the day.

At the time of writing, Stellar’s Lumen was down by 0.79% to $0.4400. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4437 before falling to a low $0.4320.

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

XLMUSD 270521 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.4449 pivot to bring the first major resistance level at $0.4689 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.46 levels.

Barring an extended rally, the first major resistance level and Wednesday’s high $0.4703 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at the 38.2% FIB of $0.5035. The second major resistance level sits at $0.4942.

Failure to move through the $0.4449 pivot would bring the first major support level at $0.4196 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.40 levels. The second major support level sits at $0.3956.

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: $0.4196

First Major Resistance Level: $0.4689

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 rallied by 7.46% on Wednesday. Following a 0.28% gain on Tuesday, Tron’s TRX ended the day at $0.08331.

Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.07573 before making a move.

Steering clear of the first major support level at $0.07721, Tron’s TRX rallied to a mid-morning intraday high $0.08471.

Tron’s TRX broke through the first major resistance level at $0.08222 before a pullback to $0.078 levels.

Finding late support, however, Tron’s TRX broke back through the first major resistance level to end the day at $0.083 levels.

At the time of writing, Tron’s TRX was down by 1.91% to $0.08172. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.08364 before falling to a low $0.08045.

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

TRXUSD 270521 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the pivot at $0.08125 to bring the first major resistance level at $0.08677 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.08471.

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 the second major resistance level at $0.09023.

Failure to avoid a fall back through the $0.08125 pivot would bring the first major support level at $0.07779 into play.

Barring an extended sell-off, however, Tron’s TRX should avoid the 62% FIB of $0.07480. The second major support level sits at $0.07227.

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: $0.07779

First Major Resistance Level: $0.08677

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