Cryptomania

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 4th, 2021

EOS

EOS rose by 4.45% on Monday. Reversing a 1.45% fall from Sunday, EOS ended the day at $6.8194.

A mixed start to the day saw EOS fall to an early morning intraday low $6.5230 before making a move.

While steering clear of the first major support level at $6.2382 EOS found support at the 23.6% FIB of $6.5200.

Through the late morning, EOS rallied to a late morning intraday high $6.9012 before easing back.

EOS broke through the first major resistance level at $6.7642 before falling back to $6.55 levels.

Finding late support, EOS broke back through the first major resistance level at $6.7642 to end the day at $6.81 levels.

At the time of writing, EOS was down by 6.78% to $6.3572. A bearish start to the day saw EOS slide from an early morning high $6.8774 to a low $6.3454.

EOS fell through the first major support level at $6.5945, the 23.6% FIB of $6.52, and the second major support level at $6.3697 early on.

EOSUSD 040521 Hourly Chart

For the day ahead

EOS would need to move back through major support levels and the 23.6% FIB to bring $6.70 levels into play.

Barring a broad-based crypto rebound, the $6.7479 pivot level would likely leave EOS short of the first major resistance level at $6.9727.

In the event of an extended rally, EOS could test resistance at $7.00 before any pullback. The second major resistance level sits at $7.1261.

Failure to move back through major support levels and the 23.6% FIB would bring the third major support level at $5.9915 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$6.00 levels.

Looking at the Technical Indicators

First Major Support Level: $6.5945

First Major resistance Level: $6.9727

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 slipped by 0.92% on Monday. Partially reversing a 2.90% gain from Sunday, Stellar’s Lumen ended the day at $0.5513.

A bullish start to the day saw Stellar’s Lumen rise to a mid-morning intraday high $0.5733 before hitting reverse.

Coming up against the first major resistance level at $0.5736, Stellar’s Lumen slid to a late intraday low $0.5404.

Steering clear of the first major support level at $0.5260, Stellar’s Lumen moved back through to $0.55 levels to reduce the deficit.

At the time of writing, Stellar’s Lumen was down by 4.08% to $0.5288. A bearish start to the day saw Stellar’s Lumen slide from an early morning high $0.5513 to a low $0.5277.

Stellar’s Lumen fell through the 23.6% FIB of $0.5342 and the first major support level at $0.5367 early on.

XLMUSD 040521 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move back through first major support level at $0.5367 and the 23.6% FIB to bring $0.55 levels into play.

Support from the broader market would be need, however, for Stellar’s Lumen to breakout from the 23.6% FIB.

Barring a broad-based crypto rebound, the pivot level at $0.5550 would likely cap any upside.

In the event of a rebound, the first major resistance level at $0.5696 would likely come into play.

Failure to move back through first major support level and the 23.6% FIB would bring the second major support level at $0.5221 back into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.52 levels. The second major support level at $0.5221 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.5367

First Major Resistance Level: $0.5696

23.6% FIB Retracement Level: $0.

38% FIB Retracement Level: $0.4373

62% FIB Retracement Level: $0.2808

Tron’s TRX

Tron’s TRX rose by 3.28% on Monday. Reversing a 2.51% fall from Sunday, Tron’s TRX ended the day at $0.1322.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.1273 before making a move.

Steering clear of the first major support level at $0.1244, Tron’s TRX rallied to a late morning intraday high $0.1372.

Tron’s TRX broke through the first major resistance level at $0.1322 before sliding back to sub-$0.13 levels.

Finding late support, however, Tron’s TRX broke back through first major resistance level to end the day at $0.132 levels.

At the time of writing, Tron’s TRX was down by 4.38% to $1.1264. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.1322 to a low $0.1258.

Tron’s TRX fell through the first major support level at $0.1273 early on.

TRXUSD 040521 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move back through the first major support level and through the $0.1322 pivot to bring the first major resistance level at $0.1372 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.13 levels.

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

In the event of an extended rally Tron’s TRX could test resistance at the second major resistance level at $0.1421 and the 23.6% FIB of $0.1426.

Failure to move back through the first major support level and through the $0.1322 pivot would bring the second major support level at $0.1223 back into play.

Barring an extended sell-off, Tron’s TRX should steer clear of the 38.2% FIB of $0.1167. The third major support level at sits at $0.1124.

Looking at the Technical Indicators

First Major Support Level: $0.1273

First Major Resistance Level: $0.1372

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