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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – February 22nd, 2021

By:
Bob Mason
Published: Feb 22, 2021, 02:46 UTC

It's a bearish start to the day for the majors. Failure to move through the day's pivot levels would leave support levels in play.

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

In this article:

EOS

EOS rallied by 5.42% on Sunday. Partially reversing a 7.38% slide from Saturday, EOS ended the week up by 0.79% to $5.1111.

A mixed start to the day saw EOS fall to an early morning intraday low $4.7318 before making a move.

Steering clear of the first major support level at $4.3511, EOS rallied to a mid-afternoon intraday high $5.5217.

EOS broke through the first major resistance level at $5.4521 before a pullback to sub-$5.10 levels.

Steering clear of sub-$5.00 levels, however, EOS wrapped up the day at $5.11 levels.

At the time of writing, EOS was down by 2.77% to $4.9693. A mixed start to the day saw EOS rise to an early morning high $5.1347 before falling to a low $4.8698.

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

EOSUSD 220221 Hourly Chart

For the day ahead

EOS would need to move back through the $5.1215 pivot level to support a run at the first major resistance level at $5.5113.

Support from the broader market would be needed, however, for EOS to break back through to $5.5 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $5.5217 would likely cap any upside.

In the event of an extended rally, EOS could test the second major resistance level at $5.9114.

Failure to move back through the $5.1215 pivot would bring the first major support level at $4.7214 into play.

Barring an extended sell-off, however, EOS should steer clear of sub-$4.50 levels. The second major support level sits at $4.3316.

Looking at the Technical Indicators

First Major Support Level: $4.7214

First Major resistance Level: $5.5113

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 2.08% on Sunday. Partially reversing a 5.28% slide from Saturday, Stellar’s Lumen ended the week down by 3.87% to 0.4967.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.4750 before making a move.

Steering clear of the 23.6% FIB of $0.4713 and the first major support level at $0.4563, Stellar’s Lumen rallied to a late morning intraday high $0.5082.

Falling short of the first major resistance level at $0.5251, Stellar’s Lumen fell back to $0.48 levels before finding support.

Late in the day, Stellar’s Lumen moved back through to $0.49 levels to deliver the upside for the day.

At the time of writing, Stellar’s Lumen was down by 3.00% to $0.4818. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4990 before falling to a low $0.4762.

Stellar’s Lumen fell through the first major support level at $0.4784 and the 23.6% FIB of $0.4713 early on.

XLMUSD 220221 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move back through pivot level at $0.4933 to bring the first major resistance level at $0.5116 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen break out from Sunday’s high $0.5082.

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

In the event of an extended rally, Stellar’s Lumen could test resistance at $0.53. The second major resistance level sits at $0.5265.

Failure to move back through the $0.4933 pivot would bring the first major support level at $0.4784 and 23.6% FIB of $0.4713 back into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.4601.

Looking at the Technical Indicators

First Major Support Level: $0.4784

First Major Resistance Level: $0.5116

23.6% FIB Retracement Level: $0.3426

38% FIB Retracement Level: $0.2823

62% FIB Retracement Level: $0.1850

Tron’s TRX

Tron’s TRX rose by 3.80% on Sunday. Partially reversing a 5.62% slide from Saturday, Tron’s TRX ended the week up by 8.83% to $0.05979.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.05609 before making a move.

Steering clear of the first major support level at $0.05296, Tron’s TRX rose to a late afternoon intraday high $0.06163.

Falling short of the first major resistance level at $0.06331, Tron’s TRX fell back to end the day at sub-$0.060 levels.

At the time of writing, Tron’s TRX was down by 1.54% to $0.05888. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.06044 before falling to a low $0.05723.

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

TRXUSD 220221 Hourly Chart

For the Day Ahead

Tron’s TRX need to move back through pivot level at $0.05917 to bring the first major resistance level at $0.06225 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday’s high $0.06163.

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 $0.065 before any pullback. The second major resistance level sits at $0.06471.

Failure to move back through the $0.05917 pivot would bring the first major support level at $0.05671 into play.

Barring an extended sell-off on the day, Tron’s TRX should steer clear of the second major support level at $0.05363.

Looking at the Technical Indicators

First Major Support Level: $0.05671

First Major Resistance Level: $0.06225

23.6% FIB Retracement Level: $0.03211

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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