EOS, Stellar’s Lumen Daily Analysis – 2 September

As usual, top cryptocurrencies have mixed reactions early today. With the positive developments, the tokens will see massive breakouts by avoiding today’s pivot points.

EOS

Yesterday saw EOS rally by 5.57%, extending Tuesday’s 4.61% gains to end Wednesday at $5.3202. However, the asset declined during the morning sessions to $4.9102 intraday lows before moving.

The following sessions witnessed EOS keeping away the $4.8285 support, attaining a late high of around $5.3322. The alt broke its first massive resistance at $5.1753 and the 2nd one at $5.3112 to end yesterday at $5.32.

While writing this article, EOS gained 0.21% overnight to stand at $5.3314. However, early morning actions saw the token rising to $5.4344 before declining to the $5.1974 low.

EOS Day Ahead

For now, EOS has to avoid the pivot at $5.1875 to test its first critical resistance near $5.4649. The alternative coin will rely on the broader market support to rally above the $5.4344 morning high. Excluding enough momentum by the total crypto market will see EOS’ initial resistance capping upside moves. Enough bulls’ effort will take the asset towards its first resistance and the 2nd at $5.0695.

Meanwhile, dropping beneath the pivot at $5.1875 will see EOS testing the immediate support at $5.0429.

Technical Indicators

  • Support – $5.0429
  • Resistance – $5.4649
  • 6% Fibonacci retracement – $6.52
  • 38% Fibonacci retracement – $9.68
  • 62% Fibonacci retracement – $14.77

Stellar’s Lumen

Wednesday saw Stellar’s Lumen rising by 4.25%. After the 2.82% uptick on Tuesday, the asset traded at $0.3536 as the day ended. Meanwhile, the token steered clear of the initial support at $0.3236, rallying to late highs of $0.3562. The alternative asset managed to break over the 23.6% Fibonacci at $0.3402 and the initial massive resistance at $0.3547 before retracing.

While writing this, Lumen gained 0.93% to hover at $0.3568. Meanwhile, unpredictable sessions had the crypto falling to $0.3519 before surging to $0.3571.

Stellar’s Lumen Day Ahead

To maintain a rising stance, Stellar’s Lumen has to avoid the pivot at $0.3486. That way, the token will move to test the initial resistance at $0.3612. The correct catalysts in the broader market will have the asset conquering the $0.36 levels.

Technical Indicators

  • Support – $0.3410
  • Resistance – $0.3612
  • 6% Fibonacci retracement – $0.3402
  • 38% Fibonacci retracement – $0.4277
  • 62% Fibonacci retracement – $0.5690