It's a bullish start to the day for the majors. Failure to move through the day's pivot levels, however, would bring support levels back into play.
EOS tumbled by 28.5% on Wednesday. Partially reversing a 56.55% surge from Tuesday, EOS ended the day at $10.3941.
A bullish start to the day saw EOS rise to an early morning intraday high $14.9300 before hitting reverse.
While falling short of first major resistance level at $16.49, EOS briefly broke through the 62% FIB of $14.77.
The reversal saw EOS slide through the first major support level at $10.61 to a late intraday low $10.1637.
Steering clear of sub-$10.00 support levels, EOS found support to end the day at $10.3 levels.
At the time of writing, EOS was up by 6.37% to $11.0040. A mixed start to the day saw EOS fall to an early morning low $9.2304 before climbing to an early high $11.3477.
While leaving the major support and resistance levels untested, EOS briefly fell through the 38.2% FIB of 9.68.
EOS would need to move through the pivot at $11.83 to bring the first major resistance level at $13.50 and the 62% FIB of $14.77 into play.
Support from the broader market would be needed for EOS to break back through to $13 levels.
Barring another extended rally throughout the day, the first major resistance level and the 62% FIB would likely cap the upside.
In the event of another extended breakout, EOS could test resistance at $17 levels. The second major resistance level sits at $16.60.
Failure to move through the $11.83 pivot would bring the 38.2% FIB of $9.68 and the first major support level at $8.73 into play.
Barring an extended sell-off, however, EOS should steer well clear of sub-$8.00 levels. The second major support level sits at $7.06.
First Major Support Level: $8.73
First Major resistance Level: $13.50
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen slid by 19.39% on Wednesday. Reversing an 11.72% rally from Tuesday, Stellar’s Lumen ended the day at $0.5932.
A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.7340 before hitting reverse.
Falling short of the first major resistance level at $0.7783, Stellar’s Lumen slid to a late intraday low $0.5850.
Stellar’s Lumen fell through the first major support level at $0.6567 and the 23.6% FIB of $0.6024 to end the day at $0.59 levels.
At the time of writing, Stellar’s Lumen was up 7.04% to $0.6359. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.5529 before rising to a high $0.6371.
While leaving the major support and resistance levels untested, Stellar’s Lumen broke back through the 23.6% FIB of $0.6024.
Stellar’s Lumen would need to move through the pivot level at $0.6391 to bring the first major resistance level at $0.6931 into play.
Support from the broader market would be need, however, for Stellar’s Lumen to break out from $0.65 levels.
Barring an extended rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.80 before any pullback. The second major resistance level sits at $0.7931. Stellar’s Lumen would need plenty of support, however, to breakout from Monday’s new swing hi $0.7800.
Failure to move through the $0.6391 pivot would bring the 23.6% FIB of $0.6024 and the first major support level at $0.5391 into play.
Barring an extended sell-off on the day, however, Stellar’s Lumen should steer clear of sub-$0.50 levels and the 38.2% FIB of $0.4925. The second major support level sits at $0.4851.
First Major Support Level: $0.5391
First Major Resistance Level: $0.6931
23.6% FIB Retracement Level: $0.6024
38% FIB Retracement Level: $0.4925
62% FIB Retracement Level: $0.3148
Tron’s TRX fell by 14.59% on Wednesday. Reversing a 9.61% gain from Tuesday, Tron’s TRX ended the day at $0.1188.
A bullish start to the day saw Tron’s TRX rally to an early morning intraday high $0.1477 before hitting reverse.
Tron’s TRX broke through the 23.6% FIB of $0.1426 and the first major resistance level at $0.1457.
The reversal saw Tron’s TRX slide through the first major support level at $0.1268 to a late intraday low $0.1170.
Finding support at the 38.2% FIB of $0.1167, Tron’s TRX ended the day at $0.118 levels.
At the time of writing, Tron’s TRX was up by 2.75% to $0.1216. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1031 before rising to a high $0.1252.
Tron’s TRX fell through 38.2S% FIB and the first major support level at $0.1080 before moving back through the 38.2% FIB of $0.1167.
Tron’s TRX would need to move through the pivot at $0.1278 to bring the first major resistance level at $0.1387 and the 23.6% FIB of $0.1426 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back out from $0.1350 levels.
Barring an extended crypto rally, the first major resistance level and the 23.6% FIB 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 $0.1585.
Failure to move through the $0.1278 pivot would bring the 38.2% FIB of $0.1167 and the first major support level at $0.1080 back into play.
Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.10 levels. The second major support level sits at $0.09713.
First Major Support Level: $0.1080
First Major Resistance Level: $0.1387
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.