• eosEOS$14.0455.10%

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – May 5th, 2021 – FX Empire

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For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.5164 to bring the 23.6% FIB of $0.5342 and the first major resistance level at $0.5373 into play.

Support from the broader market would be need, however, for Stellar’s Lumen to breakout from the 23.6% FIB of $0.5342.

Barring a broad-based crypto rebound, the first major resistance level and resistance at $0.54 would likely cap any upside.

In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.5722.

Failure to avoid a fall back through the $0.5164 pivot would bring the first major support level at $0.4815 into play.

Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.48 levels. The second major support level sits at $0.4606.

Looking at the Technical Indicators

First Major Support Level: $0.4815

First Major Resistance Level: $0.5373

23.6% FIB Retracement Level: $0.5342

38% FIB Retracement Level: $0.4373

62% FIB Retracement Level: $0.2808

Tron’s TRX

Tron’s TRX slid by 9.76% on Tuesday. Reversing a 3.28% gain from Monday, Tron’s TRX ended the day at $0.1193.

A bearish start to the day saw Tron’s TRX fall from an early morning intraday high $0.1322 to late afternoon intraday low $0.1178.

Tron’s TRX fell through the first major support level at $0.1273 and the second major support level at $0.1223.

Steering clear of the 38.2% FIB of $0.1167, Tron’s TRX briefly broke back through the second major support level to revisit $0.124 levels.

A bearish end to the day, however, saw Tron’s TRX fall back to end the day at sub-$0.12 levels.

At the time of writing, Tron’s TRX was 4.86% to $0.1251. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1171 before rising to a high $0.1264.

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

Source: fxempire.com

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