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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – March 1st, 2021

In This Article:

EOS

EOS slid by 5.27% on Sunday. Reversing a 3.12% fall from Saturday, EOS ended the week down by 31.76% to $3.4836.

A mixed start to the day saw EOS rise to an early morning intraday high $3.7198 before hitting reverse.

Falling short of the first major resistance level at $3.8372, EOS slid to a late afternoon intraday low $3.2309.

EOS fell through the first major support level at $3.5212 and the second major support level at $3.3721.

Finding late support, EOS revisited $3.54 levels before falling back through the first major support level to end the day at sub-$3.49 levels.

At the time of writing, EOS was up by 1.32% to $3.5297. A mixed start to the day saw EOS fall to an early morning low $3.4441 before rising to a high $3.5616.

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 $3.4781 pivot level to support a run at the first major resistance level at $3.7253.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $3.7198.

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

In the event of an extended rally, EOS could test resistance at $3.90 before any pullback. The second major resistance level sits at $3.9670.

Failure to avoid a fall back through the $3.4781 pivot would bring the first major support level at $3.2364 into play.

Barring another extended sell-off, however, EOS should steer clear of sub-$3.00 levels. The second major support level sits at $2.9892.

Looking at the Technical Indicators

First Major Support Level: $3.2364

First Major resistance Level: $3.7253

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 slid by 7.38% on Sunday. Reversing a 9.64% gain from Saturday, Stellar’s Lumen ended the week down by 18.16% to $0.4065.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.4506 before hitting reverse.

Falling short of the 23.6% FIB and the first major resistance level at $0.4733, Stellar’s Lumen slid to a late afternoon intraday low $0.3804.

Stellar’s Lumen fell through the first major support level at $0.4018 before briefly revisiting $0.41 levels.

At the time of writing, Stellar’s Lumen was up by 1.52% to $0.4126. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.4030 before rising to a high $0.4154.

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 back through the pivot level at $0.4125 to bring the first major resistance level at $0.4446 into play.