Stellar’s Lumen, EOS Tech Analysis – 17 August

It is another mixed start today in the financial space. However, top crypto assets will have to hold their pivot levels to prevent plunges.

EOS

Monday early sessions had EOS falling by 3.07%. The token ended yesterday at around $5.5193 after losing a portion of the 3.82% Sunday gains.

Meanwhile, yesterday’s mixed actions had EOS rising to $5.9497 highs before reversing. With that, the crypto managed to overpower its initial massive resistance zone at $5.8991 before plunging to $5.4545 intraday lows.

EOS revisited the levels at $5.66 after breaching its critical support at around $5.3184.

While publishing this content, EOS trades near $5.5000 following a 0.35% drop. Unpredictable movements early in the morning had the coin falling to $5.1972 before climbing to the $5.6048 highs.

Now, what holds EOS’s day ahead? The crypto has to keep away the pivot at $5.6412 to test its initial resistance at $5.8278. However, the asset needs broader market support to prevent losses that would have it down to the sub-$5.80 zones.

Technical Indicators

• First critical support zone – $5.3326
• First critical resistance zone – $5.8278
• 6% Fibonacci retracement – $6.52
• 38% Fibonacci retracement – $9.68
• 62% Fibonacci retracement – $14.77

Stellar’s Lumen

Monday crypto actions saw Stellar’s Lumen dropping by 4.99%. With the 0.94% drop on Sunday, the alternative coin ended its day at around $0.3716.

Mixed early sessions yesterday witnessed Stellar’s Lumen climbing to $0.4100 highs in the morning before reversing.

However, the coin overcame its initial resistance at $0.4064 before dropping to the $0.3705 intraday lows in the afternoon.

Stellar’s Lumen dropped beneath its initial support area at $0.3733 before a brief revisit to $0.38.

Bearishness towards the end of the day had the crypto falling through its initial support, ending the day near the sub-$0.3720.

While publishing this, Stellar’s Lumen hovered at $0.3732 after a 0.42% surge. Meanwhile, the unpredictable morning saw the alt falling to $0.3570 before climbing to $0.3757 highs.

What of the moves today? Stellar’s Lumen has to overpower the pivot at $0.3840 to engage its initial resistance at $0.3976.

Technical Indicators

• First critical support zone – $0.3581
• First critical resistance zone – $0.3976
• 6% Fibonacci retracement – $0.3402
• 38% Fibonacci retracement – $0.4277
• 62% Fibonacci retracement – $0.5690