It's a particularly bearish start to the day for the majors. Failure to move through the day's pivot levels would leave support levels in play on the day.
EOS slid by 9.48% on Monday. Following on from a 6.35% decline on Sunday, EOS ended the day at $6.6054.
A bullish start to the day saw EOS rise to an early morning intraday high $7.5634 before hitting reverse.
Falling short of the first major resistance level at $8.2333, EOS slid to a late afternoon intraday low $6.4900.
While steering clear of the first major support level at $6.0821, EOS fell through the 23.6% FIB of $6.52.
Finding late support, however, EOS broke back through the 23.6% FIB of $6.52 to end the day at $6.60 levels.
At the time of writing, EOS was down by 5.33% to $6.2531. A mixed start to the day saw EOS rise to an early morning high $6.6650 before falling to a low $5.7344.
EOS fell through the 23.6% FIB and the first major support level at $6.2091 and the second major support level at $5.8129 early on.
EOS would need to move back through the 23.6% FIB of $6.52 and the $6.8863 pivot level to support a run at the first major resistance level at $7.2825.
Support from the broader market would be needed, however, for EOS to break back through to $7.00 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $7.5634 would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $8.00 before any pullback. The second major resistance level sits at $7.9597.
Failure to move back through the 23.6% FIB of $6.52 and the $6.8863 pivot would bring the first major support level at $6.2091 back into play.
Barring another extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level at $5.8129 should limit the downside.
First Major Support Level: $6.2091
First Major resistance Level: $7.2825
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen slid by 8.33% on Monday. Following on from a 7.83% fall on Sunday, Stellar’s Lumen ended the day at $0.5007.
A bullish start to the day saw Stellar’s Lumen rise to a mid-morning intraday high $0.5669 before hitting reverse.
Falling short of the first major resistance level at $0.6119, Stellar’s Lumen slid to a late afternoon intraday low $0.4913.
While steering clear of the first major support level at $0.4695, Stellar’s Lumen fell through the 23.6% FIB of $0.5342.
Finding late support, Stellar’s Lumen revisited $0.52 levels before easing back.
At the time of writing, Stellar’s Lumen was down by 3.33% to $0.4840. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.5035 before falling to a low $0.4802.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move through the pivot level at $0.5196 and the 23.6% FIB of $0.5342 to bring the first major resistance level at $0.5480 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen break back through to $0.54 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.5669 would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.60. The second major resistance level sits at $0.5952.
Failure to move through the $0.5196 pivot and the 23.6% FIB of $0.5342 would bring the first major support level at $0.4724 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.45 levels. the second major support level sits at $0.4440.
First Major Support Level: $0.4724
First Major Resistance Level: $0.5480
23.6% FIB Retracement Level: $0.5342
38% FIB Retracement Level: $0.4373
62% FIB Retracement Level: $0.2808
Tron’s TRX slid by 8.82% on Monday. Following on from a 7.72% decline on Sunday, Tron’s TRX ended the day at $0.1303.
A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.1491 before hitting reverse.
While falling short of the first major resistance level at $0.1606, Tron’s TRX broke through the 23.6% FIB of $0.1426.
The reversal, however, saw Tron’s TRX slide to a mid-afternoon intraday low $0.1297.
While steering clear of the first major support level at $0.1235, Tron’s TRX fell back through the 23.6% FIB of $0.1426.
Finding late support, Tron’s TRX revisited $0.137 levels before easing back.
At the time of writing, Tron’s TRX was down by 7.00% to $0.1212. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1312 before sliding to a low $0.1165.
Tron’s TRX fell through the first major support level at $0.1236 to test the second major support level at $0.1170 and support at the 38.2% FIB of $0.1167.
Tron’s TRX would need to move back through first major support level at $0.1236 and the $0.1364 pivot to bring the first major resistance level at $0.1430 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back out from the 23.6% FIB of $0.1426.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.1491 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 $0.1558.
Failure to move back through the first major support level and through the $0.1364 pivot would bring the second major support level at $0.1170 and the 38.2% FIB back into play.
Barring an extended sell-off, Tron’s TRX should steer clear of the sub-$0.10 levels. The third major support level sits at $0.0976.
First Major Support Level: $0.1236
First Major Resistance Level: $0.1430
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
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.