Yahoo Finance EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 12th, 2021
EOS
EOS surged by 56.55% on Tuesday. Reversing an 11.91% slide from Monday, EOS ended the day at $14.5198.
A mixed start to the day saw EOS rise to an early morning high $9.5223 before hitting reverse.
Falling short of the 38.2% FIB of $9.68 and the first major support level at $10.7672, EOS fell to an early morning intraday low $8.6640.
Steering clear of the first major support level at $8.0222, EOS surged to a final hour intraday high $14.5507.
EOS broke through the first major resistance level at $10.7672 and the second major resistance level at $12.2583.
More significantly, EOS also broke back through the 38.2% FIB of $9.68 to come within range of the 62% FIB of $14.77 before easing back.
At the time of writing, EOS was down by 3.75% to $13.9755. A mixed start to the day saw EOS rise to an early morning high $14.9275 before falling to a low $13.9600.
While leaving the major support and resistance levels untested early on, EOS briefly broke through the 62% FIB of $14.77.
For the day ahead
EOS would need to avoid a fall through the pivot at $12.5782 to bring the 62% FIB of $14.77 and first major resistance level at $16.4923 into play.
Support from the broader market would be needed for EOS to break back through the 62% FIB.
Barring another extended rally throughout the day, the first major resistance level would likely cap the upside.
In the event of another extended breakout, EOS could test resistance at $18.0 levels. The second major resistance level sits at $18.4649.
Failure to avoid a fall through the $12.5782 pivot would bring the first major support level at $10.6056 and the 38.2% FIB of $9.68 into play.
Barring an extended sell-off, however, EOS should steer well clear of sub-$9.00 levels. The second major support level sits at $6.6915.
Looking at the Technical Indicators
First Major Support Level: $10.6056
First Major resistance Level: $16.4923
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 rallied by 11.72% on Tuesday. Reversing a 4.72% gain from Monday, Stellar’s Lumen ended the day at $0.7357.
A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.6792 before hitting reverse.
Falling short of the first major resistance level at $0.7527, Stellar’s Lumen fell to an early morning intraday low $0.6203.
Steering clear of the 23.6% FIB of $0.6024 and the first major support level at $0.5917, Stellar’s Lumen rallied to a late afternoon intraday high $0.7418.
Continuing to fall short of the first major resistance level, Stellar’s Lumen eased back to end the day at $0.73 levels.
At the time of writing, Stellar’s Lumen was down by 2.48% to $0.7175. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.7390 before falling to a low $0.7172.
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 pivot level at $0.6993 to bring the first major resistance level at $0.7783 into play.
Support from the broader market would be need, however, for Stellar’s Lumen to break out from Tuesday’s high $0.7418.
Barring an extended rally, the first major resistance level and Monday’s new swing hi $0.78 would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.85 before any pullback. The second major resistance level sits at $0.8208.
Failure to avoid a fall through the $0.6993 pivot would bring the first major support level at $0.6567 and the 23.6% FIB of $0.6024 into play.
Barring an extended sell-off on the day, however, Stellar’s Lumen should steer clear of sub-$0.60 levels. The second major support level sits at $0.5778.
Looking at the Technical Indicators
First Major Support Level: $0.6567
First Major Resistance Level: $0.7783
23.6% FIB Retracement Level: $0.6024
38% FIB Retracement Level: $0.4925
62% FIB Retracement Level: $0.3148
Tron’s TRX
Tron’s TRX rallied by 9.61% on Tuesday. Partially reversing an 11.51% slide Monday, Tron’s TRX ended the day at $0.1391.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.1212 before making a move.
Steering clear of the 38.2% FIB of $0.1167 and the first major support level at $0.1152, Tron’s TRX rose to a late intraday high $0.1401.
Falling short of the 23.6% FIB of $0.1426 and the first major resistance level at $0.1437, Tron’s TRX eased back to sub-$0.14 levels.
At the time of writing, Tron’s TRX was up by 3.54% to $0.1440. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1383 before rising to a high $0.1459.
Tron’s TRX broke through the 23.6% FIB of $0.1426 to test the first major resistance level at $0.1457 early on.
For the Day Ahead
Tron’s TRX would need to avoid a fall through the 23.6% FIB and the pivot at $0.1335 to bring the first major resistance level at $0.1457 back into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.1450 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $0.15 would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at $0.16 before any pullback. The second major resistance level sits at $0.1524.
Failure to avoid a fall through the 23.6% FIB of $0.1426 and the $0.1335 pivot would bring the first major support level at $0.1268 into play.
Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.11 levels. The 38.2% FIB of $0.1167 and the second major support level at $0.1146 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.1268
First Major Resistance Level: $0.1457
23.6% FIB Retracement Level: $0.1426
38.2% FIB Retracement Level: $0.1167
62% FIB Retracement Level: $0.0748
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Thanks, Bob
This article was originally posted on FX Empire
