EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 1st, 2021
Bob Mason
6 min read
EOS
EOS rallied by 9.89% on Monday. Following a 0.31% gain on Sunday, EOS ended the month up by 2.79% to $6.6409.
A bearish start to the day saw EOS fall to an early morning intraday low $5.7466 before making a move.
Steering clear of the first major support level at $5.5991, EOS rallied to a late intraday high $6.6857.
EOS broke through the first major resistance level at $6.4329 and the 23.6% FIB of $6.52 to end the day at $6.64 levels.
At the time of writing, EOS was up by 0.60% to $6.6809. A mixed start to the day saw EOS fall to an early morning low $6.5226 before rising to a high $6.8641.
While leaving the major support and resistance levels untested, EOS did test support at the 23.6% FIB of $6.52 early on.
For the day ahead
EOS would need to avoid a fall through the 23.6% FIB and the $6.3577 pivot to bring the first major resistance level at $6.9689 into play.
Support from the broader market would be needed for EOS to break out from the morning high $6.8641.
Barring a broad-based crypto rally, the first major resistance level and resistance at $7.00 would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $7.50 before any pullback. The second major resistance level sits at $7.2968.
A fall through the 23.6% FIB and the $6.3577 pivot and would bring the first major support level at $6.0298 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$6.00 levels. The second major support level sits at $5.4186.
Looking at the Technical Indicators
First Major Support Level: $6.0298
First Major resistance Level: $6.9689
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 7.42% on Monday. Following on from a 1.99% gain on Sunday, Stellar’s Lumen ended month down by 24.12% to $0.4025.
A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3655 before making a move.
Steering clear of the first major support level at $0.3474, Stellar’s Lumen rose to a late morning intraday high $0.4100.
Stellar’s Lumen broke through the first major resistance level at $0.4006 before falling back to sub-$0.39 levels.
Finding late support, Stellar’s Lumen ended the day at $0.40 levels. The first major resistance level pinned Stellar’s Lumen back late in the day.
At the time of writing, Stellar’s Lumen was up by 2.00% to $0.4106. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.4001 before rising to a high $0.4144.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to avoid a fall through the $0.3927 pivot to bring the first major resistance level at $0.4198 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.4150 levels.
Barring an extended rally, the first major resistance level and resistance at $0.42 would likely cap any upside.
In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.45 levels. The second major resistance level sits at $0.4372.
Failure to avoid a fall through the $0.3927 pivot would bring the first major support level at $0.3753 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.35 levels. The second major support level sits at $0.3482.
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: $0.3753
First Major Resistance Level: $0.4198
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 rose by 7.18% on Monday. Following a 4.59% gain on Sunday, Tron’s TRX ended the month down by 41.92% to $0.07686.
Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.06958 before making a move.
Steering clear of the first major support level at $0.06750, Tron’s TRX rallied to a late intraday high $0.07730 before easing back.
Tron’s TRX broke through the first major resistance level at $0.07475 and the 62% FIB of $0.07480 to end the day at $0.76 levels.
At the time of writing, Tron’s TRX was up by 0.73% to $0.07742. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.07578 before rising to a high $0.07850.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to avoid a fall through the 62% FIB of $0.07480 and the $0.07458 pivot to bring the first major resistance level at $0.07958 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.07850.
Barring an extended crypto rally, the first major resistance level and resistance at $0.080 would likely cap any upside.
In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.085 before any pullback. The second major resistance level sits at $0.8230.
Failure to avoid a fall through the 62% FIB and the $0.07458 pivot would bring the first major support level at $0.07186 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.070 levels. The second major support level sits at $0.06686.
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.
First Major Resistance Level: $0.
23.6% FIB Retracement Level: $0.1426
38.2% FIB Retracement Level: $0.1167
62% FIB Retracement Level: $0.0748
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