It's been a mixed start to the the day for the majors. A fall through the day's pivot levels would bring support levels into play...
EOS rose by 5.72% on Wednesday. Reversing a 2.55% fall from Tuesday, EOS ended the day at $5.3410.
A mixed start to the day saw EOS fall to an early morning intraday low $4.7746 before making a move.
Steering clear of the first major support level at $4.6196, EOS rose to a late afternoon intraday high $5.3960.
EOS broke through the first major resistance level at $5.3716 before easing back to end the day at $5.34 levels.
At the time of writing, EOS was down by 0.30% to $5.3250. A mixed start to the day saw EOS fall to an early morning low $5.3065 before striking a high $5.4743.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $5.1705 pivot to bring the first major resistance level at $5.5665 into play.
Support from the broader market would be needed for EOS to break out from the morning high $5.4743.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $6.00 before any pullback. The second major resistance level sits at $5.7919.
A fall through the $5.1705 pivot and would bring the first major support level at $4.9451 into play.
Barring another extended sell-off, however, EOS should steer clear of the second major support level at $4.5491.
First Major Support Level: $4.9451
First Major resistance Level: $5.5665
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rose by 4.55% on Wednesday. Following a 0.89% gain on Tuesday Stellar’s Lumen ended the day at $0.3653.
A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3245 before making a move.
Steering clear of the 62% FIB of $0.3216 and the first major support level at $0.3209, Stellar’s Lumen rose to a late intraday high $0.3677.
Stellar’s Lumen broke through the first major resistance level at $0.3675 before easing back to end the day at sub-$0.3670 levels.
At the time of writing, Stellar’s Lumen was down by 0.74% to $0.3626. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3677 before falling to a low $0.3608.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid the $0.3525 pivot to bring the first major resistance level at $0.3805 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s and this morning’s high $0.3677.
Barring an extended rally, the first major resistance level 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 $0.3957.
A fall through the $0.3525 pivot would bring the first major support level at $0.3373 and the 62% FIB of $0.3216 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.30 levels. The second major support level at $0.3093 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.
First Major Support Level: $0.3373
First Major Resistance Level: $0.3805
23.6% FIB Retracement Level: $0.6160
38% FIB Retracement Level: $0.5035
62% FIB Retracement Level: $0.3216
Tron’s TRX rose by 4.21 on Wednesday. Following a 1.37% gain on Tuesday, Tron’s TRX ended the day at $0.07555.
A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.06986 before making a move.
Steering clear of the first major support level at $0.06852, Tron’s TRX rose to a late intraday high $0.07555.
Tron’s TRX broke through the 62% FIB of $0.07480 and the first major resistance level at $0.07500 to end the day at $0.0755 levels.
At the time of writing, Tron’s TRX was down by 0.74% to $0.07499. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.07595 before falling to a low $0.07442.
While leaving the major support and resistance levels untested, Tron’s TRX tested support at the 62% FIB of $0.07480 early on.
Tron’s TRX would need to avoid a fall through the 62% FIB of $0.07480 and the $0.07365 pivot to bring the first major resistance level at $0.07745 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.07595.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.080 before any pullback. The second major resistance level sits at $0.07934.
A fall through the $0.07365 pivot would bring the first major support level at $0.07176 into play.
Barring another extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.06796.
A sustained fall back through the 62% FIB of $0.0748 would form a near-term bearish trend from April’s swing hi $0.1844.
First Major Support Level: $0.07176
First Major Resistance Level: $0.07745
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.