It's a mixed start to the day for the majors. Steering clear of the pivot levels, however, would support a run at the day's resistance levels.
EOS rose by 1.30% on Wednesday. Partially reversing an 8.18% slide from Tuesday, EOS ended the day at $3.0609.
A bearish start to the day saw EOS fall to an early morning intraday low $2.9411 before making a move.
Steering clear of the first major support level at $2.8016, EOS rose to a late morning intraday high $3.1052.
Falling short of the first major resistance level at $3.2710, EOS fell back to sub-$3.00 levels and into the red.
Finding late support from the broader market, however, EOS moved back through to $3.00 levels to end the day in the green.
At the time of writing, EOS was up by 0.23% to $3.0679. A mixed start to the day saw EOS fall to an early morning low $3.0560 before striking a high $3.1063.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid a fall through the $3.0357 pivot level to support a run at the first major resistance level at $3.1304.
Support from the broader market would be needed, however, for EOS to break back through to $3.10 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of an extended rally, EOS could test resistance at $3.2 before any pullback. The second major resistance level sits at $3.1998.
Failure to avoid a fall through the pivot level at $3.0357 would bring the first major support level at $2.9663 into play.
Barring an extended sell-off, however, EOS should steer of sub-$2.90 levels. The second major support level sits at $2.8716.
First Major Support Level: $2.9663
First Major resistance Level: $3.1304
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rose by 0.90% on Wednesday. Following Tuesday’s 9.45% slide, Stellar’s Lumen ended the day at $0.18545.
A bearish start to the day saw Stellar’s Lumen fall to a mid-morning intraday low $0.1772 before making a move.
Steering clear of the first major support level at $0.1697, Stellar’s Lumen rose to a late morning intraday high $0.1882.
Falling short of the 62% FIB of $0.1989 and the first major resistance level at $0.2012, Stellar’s Lumen slid back to sub-$0.18 levels.
Finding late support, however, Stellar’s Lumen briefly moved back through to $0.185 levels to reverse losses from the day.
At the time of writing, Stellar’s Lumen was down by 0.47% to $0.18459. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.18832 before falling to a low $0.18843.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid a fall through the $0.18362 pivot level to support a run at the first major resistance level at $0.19003.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.18832.
Barring an extended crypto rally, the first major resistance level and resistance at $0.19 would likely cap any upside.
In the event of another breakout, Stellar’s Lumen could test resistance at $0.1950 before any pullback. The second major resistance level sits at $0.19462.
Failure to avoid a fall through the pivot level at $0.18362 would bring the first major support level at $0.17903 into play.
Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.17 levels. The second major support level at $0.17262 should limit any downside.
First Major Support Level: $0.17903
First Major Resistance Level: $0.19003
23.6% FIB Retracement Level: $0.09280
38% FIB Retracement Level: $0.1333
62% FIB Retracement Level: $0.1989
Tron’s TRX rose by 3.69% on Wednesday. Partially reversing a 7.04% slide from Tuesday, Tron’s TRX ended the day at $0.031134.
It was a mixed start to the day. Tron’s TRX fell to an early morning intraday low $0.02954 before making a move.
In spite of the pullback, Tron’s TRX steered clear of the 23.6% FIB of $0.0291 and the first major support level at $0.02782.
Finding support through the morning, Tron’s TRX rose to a late morning intraday high $0.03115 before hitting reverse.
Falling short of the first major resistance level at $0.03347, Tron’s TRX fell back to a low $0.03025 before finding late support. A late move back through to $0.031 levels delivered the upside on the day.
At the time of writing, Tron’s TRX was down by 0.19% to $0.031063. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.031469 before falling to a low $0.031063.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to avoid a fall through the $0.03068 pivot level to support a run at the first major resistance level at $0.03181.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.03115.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, resistance at $0.032 would likely come into play. The second major resistance level sits at $0.03229.
Failure to avoid a fall through the $0.03068 pivot level would bring the first major support level at $0.03020 and the 23.6% FIB of 0.0291 into play.
Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.029 levels. The 23.6% FIB and the second major support level at $0.02907 should limit any downside.
First Major Support Level: $0.03020
First Major Resistance Level: $0.03181
23.6% FIB Retracement Level: $0.0291
38.2% FIB Retracement Level: $0.0428
62% FIB Retracement Level: $0.0648
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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.