It's a bearish start to the day for the majors. Failure to move through the day's pivot levels would leave support levels in play.
EOS fell by 2.02% on Tuesday. Partially reversing a 4.01% gain from Monday, EOS ended the day at $5.1906.
A mixed start to the day saw EOS rise to a late morning intraday high $5.3947 before hitting reverse.
Falling short of the first major resistance level at $5.4345, EOS slid to a late intraday low $5.1092.
Steering clear of the first major support level at $5.0565, EOS revisited $5.22 levels before easing back.
At the time of writing, EOS was down by 0.63% to $5.1578. A bearish start to the day saw EOS fall from an early morning high $5.1904 to a low $5.1361.
EOS left the major support and resistance levels untested early on.
EOS would need to move through the $5.2315 pivot to bring the first major resistance level at $5.3538 into play.
Support from the broader market would be needed for EOS to break back through to $5.30 levels.
Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $5.3947 would likely cap any upside.
In the event of an extended rally, EOS could test the second major resistance level at $5.5170.
Failure to move through the $5.2315 pivot and would bring the first major support level at $5.0683 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$5.00 levels. The second major support level sits at $4.9460.
First Major Support Level: $5.0683
First Major resistance Level: $5.3538
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen fell by 2.83% on Tuesday. Following a 0.49% decline on Monday, Stellar’s Lumen ended the day at $0.3336.
A mixed start to the day saw Stellar’s Lumen rise to a mid-morning intraday high $0.3519 before hitting reverse.
Falling short of the first major resistance level at $0.3532, Stellar’s Lumen slid to a mid-afternoon intraday low $0.3298.
Finding support at the first major support level at $0.3301, Stellar’s Lumen revisited $0.343 levels before sliding back into the red.
At the time of writing, Stellar’s Lumen was down by 0.74% to $0.3311. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.3337 to a low $0.3286.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move through the $0.3384 pivot to bring the first major resistance level at $0.3471 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.34 levels.
Barring an extended rally, the first major resistance level and Tuesday’s high $0.3519 would likely cap any upside.
In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.37 before any pullback. The second major resistance level sits at $0.3605.
Failure to move through the $0.3384 pivot would bring the first major support level at $0.3250 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3163. The 62% FIB of $0.3216 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: $0.3250
First Major Resistance Level: $0.3471
23.6% FIB Retracement Level: $0.6160
38% FIB Retracement Level: $0.5035
62% FIB Retracement Level: $0.3216
Tron’s TRX rose by 0.24% on Tuesday. Following a 0.46% gain on Monday, Tron’s TRX ended the day at $0.07191.
A mixed start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.07333 before hitting reverse.
Coming up against the first major resistance level at $0.07324, Tron’s TRX slid to a mid-afternoon intraday low $0.07065.
Steering clear of the first major support level at $0.7008, Tron’s TRX revisited $0.073 levels before easing back.
The first major resistance level at $0.07324 continued to pin Tron’s TRX back on the day.
At the time of writing, Tron’s TRX was down by 0.33% to $0.07168. A bearish start to the day saw fall from an early morning high $0.07191 to a low $0.07084.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to move through $0.07196 pivot to bring the first major resistance level at $0.07328 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.073 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.07333 would likely cap any upside.
In the event of a broad-based crypto rally, Tron’s TRX could test resistance at the 62% FIB of $0.07480 before any pullback. The second major resistance level sits at $0.07464.
Failure to move through the $0.07196 pivot would bring the first major support level at $0.07060 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.069 levels. The second major support level at $0.06928 should limit the downside.
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: $0.07060
First Major Resistance Level: $0.07328
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.