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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – March 3rd, 2021

By:
Bob Mason
Published: Mar 3, 2021, 01:11 UTC

It's a mixed start to the day for the majors. Failure to revisit early highs would bring support levels into play.

E-coins on tablet computer with charts on screen

In this article:

EOS

EOS fell by 1.09% on Tuesday. Partially reversing a 6.52% gain from Monday, EOS ended the day at $3.6727.

A mixed start to the day saw EOS rally to a late morning intraday high $3.8644 before hitting reverse.

EOS broke through the first major resistance level at $3.8507 before sliding to a late intraday low $3.5598.

Steering clear of the first major support level at $3.5090, EOS found support to end the day at $3.67 levels.

At the time of writing, EOS was up by 0.62% to $3.6954. A mixed start to the day saw EOS fall to an early morning low $3.6367 before rising to a high $3.7137.

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

EOSUSD 030321 Hourly Chart

For the day ahead

EOS would need to move back through the $3.6990 pivot level to support a run at the first major resistance level at $3.8381.

Support from the broader market would be needed, however, for EOS to break back through to $3.80 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $3.8644 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.00 before any pullback. The second major resistance level sits at $4.0036.

Failure to move back through the $3.6990 pivot would bring the first major support level at $3.5335 into play.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.3944.

Looking at the Technical Indicators

First Major Support Level: $3.5335

First Major resistance Level: $3.8381

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 2.78% on Tuesday. Partially reversing a 6.08% rally from Monday, Stellar’s Lumen ended the day at $0.4192.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.4364 before hitting reverse.

Falling short of the first major resistance level ata $0.4449, Stellar’s Lumen fell to a late intraday low $0.3969.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.4093 before finding support.

A late move back through the first major support level to end the day at $0.419 levels.

At the time of writing, Stellar’s Lumen was down by 0.39% to $0.4176. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.4120 before rising to a high $0.4203.

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

XLMUSD 030321 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the pivot level at $0.4175 to bring the first major resistance level at $0.4381 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen break back through to $0.43 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.4364 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.4570 and resistance at $0.46.

Failure to avoid a fall back through the $0.4175 pivot would bring the first major support level at $0.3986 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.3780.

Looking at the Technical Indicators

First Major Support Level: $0.3986

First Major Resistance Level: $0.4381

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 fell by 1.26% on Tuesday. Partially reversing a 4.22% gain from Monday, Tron’s TRX ended the day at $0.04706.

A choppy start to the day saw Tron’s TRX rise to an early afternoon intraday high $0.04947 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.04921 before sliding to a late intraday low $0.04519.

The sell-off saw Tron’s TRX fall through the first major support level at $0.04542 before finding support.

Late in the day, Tron’s TRX move back through to $0.047 levels to reduce the deficit on the day.

At the time of writing, Tron’s TRX was up by 1.14% to $0.04760. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.04624 before rising to a high $0.04779.

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

TRXUSD 030321 Hourly Chart

For the Day Ahead

Tron’s TRX need to avoid a fall back through the pivot level at $0.04724 to bring the first major resistance level at $0.04929 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.049 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.04947 would likely cap any upside.

In the event of an extended rally Tron’s TRX could test resistance at $0.051 before any pullback. The second major resistance level sits at $0.05152.

Failure to avoid a fall back through the $0.04724 pivot would bring the first major support level at $0.04501 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.04296 and the 38.2% FIB of $0.04280.

Looking at the Technical Indicators

First Major Support Level: $0.04501

First Major Resistance Level: $0.04929

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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