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

EOS

EOS slipped by 0.02% on Tuesday. Following a 2.08% gain on Monday, EOS ended the day at $4.0244.

A mixed start to the day saw EOS rise to an early morning intraday high $4.0956 before hitting reverse.

Falling short of the first major resistance level at $4.1599, EOS slid to a mid-day intraday low $3.8650.

EOS fell through the first major support level at $3.8897 before briefly revisiting $4.08 levels.

At the time of writing, EOS was down by 0.63% to $3.9990. A mixed start to the day saw EOS rise to an early morning high $4.0419 before falling to a low $3.9830.

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

For the day ahead

EOS would need to avoid a fall back through the $3.9950 pivot to bring the first major resistance level at $4.1250 into play.

Support from the broader market would be needed for EOS to break back through to $4.10 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $4.0956 would likely cap any upside.

In the event of an extended rally, EOS could test resistance at $4.30. The second major resistance level sits at $4.2256.

A fall back through the $3.9950 pivot would bring the first major support level at $3.8944 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.80 levels. The second major support level sits at $3.7644.

Looking at the Technical Indicators

First Major Support Level: $3.8944

First Major resistance Level: 4.1250

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 0.04% on Tuesday. Partially reversing a 0.36% decline from Monday, Stellar’s Lumen ended the day at $0.2742.

A mixed start saw Stellar’s Lumen rise to an early morning intraday high $0.2789 before hitting reverse.

Falling short of the first major resistance level at $0.2842, Stellar’s Lumen slid to a mid-day intraday low $0.2643.

Stellar’s Lumen fell through the first major support level at $0.2664 before briefly revisiting $0.276 levels.

At the time of writing, Stellar’s Lumen was down by 0.98% to $0.2716. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.2747 before falling to a low $0.2702.

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

For the day ahead

Stellar’s Lumen would need to move back through the $0.2725 pivot to bring the first major resistance level at $0.2806 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.2789.

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

In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.30 before any pullback. The second major resistance level sits at $0.2871.

Failure to move back through the $0.2725 pivot would bring the first major support level at $0.2660 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.26 levels. The second major support level sits at $0.2579.

Looking at the Technical Indicators

First Major Support Level: $0.2660

First Major Resistance Level: $0.2806

23.6% FIB Retracement Level: $0.3402

38% FIB Retracement Level: $0.4277

62% FIB Retracement Level: $0.5690

Tron’s TRX

Tron’s TRX fell by 1.31% on Tuesday. Partially reversing a 3.21% gain from Monday, Tron’s TRX ended the day at $0.06415.

A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.06576 before hitting reverse.

Falling short of the first major resistance level at $0.06663, Tron’s TRX slid to a mid-day intraday low $0.06261.

Finding support at the first major support level at $0.06269, Tron’s TRX briefly revisited $0.065 levels before easing back.

At the time of writing, Tron’s TRX was down by 1.17% to $0.06339. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.06435 before falling to a low $0.06339.

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

For the Day Ahead

Tron’s TRX would need to move back through the $0.06417 pivot to bring the first major resistance level at $0.06574 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.065 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.06576 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.68. The second major resistance level sits at $0.06732.

Failure to move back through the $0.06417 pivot would bring the first major support level at $0.06259 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.06 levels. The second major support level at $0.06102 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.06259

First Major Resistance Level: $0.06574

23.6% FIB Retracement Level: $0.0787

38.2% FIB Retracement Level: $0.0989

62% FIB Retracement Level: $0.1316

Please let us know what you think in the comments below

Thanks, Bob