EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 7th, 2021

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.3803 pivot to bring the first major resistance level at $0.3888 back into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.3877.

Barring an extended rally, the first major resistance level and Sunday’s high $0.3887 would likely cap any upside.

In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 before any pullback. The second major resistance level sits at $0.3973.

A fall back through the $0.3803 pivot would bring the first major support level at $0.3718 into play.

Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.36 levels. The second major support level at $0.3633 should limit the downside.

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: $0.3718

First Major Resistance Level: $0.3888

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 2.66% on Sunday. Reversing a 2.23% decline from Saturday, Tron’s TRX ended the week up by 8.34% to $0.07770.

Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.07515 before making a move.

Steering clear of the first major support level at $0.07311, Tron’s TRX rallied to a late morning intraday high $0.07783.

Falling short of the first major resistance level at $0.07917, however, Tron’s TRX eased back to sub-$0.076 levels.

Finding late support, however, Tron’s TRX moved back through to $0.077 levels to deliver the upside on the day.

At the time of writing, Tron’s TRX was up by 0.46% to $0.07801. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.07604 before rising to a high $0.07903.

Tron’s TRX broke through the first major resistance level at $0.07864 early on.

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