It's a mixed start to the day for the majors. Steering clear of the day's pivot levels, however, would bring resistance levels into play.
EOS surged by 37.57% on Wednesday. Reversing a 6.86% fall from Tuesday, EOS ended the day at $8.7303.
A bearish start to the day saw EOS fall to an early morning intraday low $6.2092 before making a move.
Steering clear of the first major support level at $6.0136, EOS rallied to a late intraday high $8.8413.
EOS broke through the 23.6% FIB of $6.52 and the day’s major resistance levels to wrap up the day at $8.70 levels.
At the time of writing, EOS was up by 2.49% to $8.9477. A mixed start to the day saw EOS rise to an early morning high $9.2876 before falling to a low $8.6045.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid a fall through the pivot at $7.9269 to bring the first major resistance level at $9.6447 and 38.2% FIB of $9.68 into play.
Support from the broader market would be needed for EOS to break back through to $9.00 levels.
Barring an extended rally throughout the day, the first major resistance level and the 38.2% FIB will likely cap the upside.
In the event of another extended breakout, EOS could test resistance at $10.0 levels. The second major resistance level sits at $10.5590.
Failure to avoid a fall through the $7.9269 pivot would bring the first major support level at $7.0126 and the 23.6% FIB of $6.52 into play.
Barring an extended sell-off, however, EOS should steer well clear of sub-$6.00 levels. The second major support level sits at $5.2948.
First Major Support Level: $7.0126
First Major resistance Level: $9.6447
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen jumped by 20.59% on Wednesday. Reversing an 8.82% loss from Tuesday, Stellar’s Lumen ended the day at $0.6055.
A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.4980 before making a move.
Steering clear of the first major support level at $0.4815, Stellar’s Lumen rallied to a late intraday high $0.6065.
The breakout saw Stellar’s Lumen break through the first major resistance level at $0.5373 and the second major resistance level at $0.5722.
Stellar’s Lumen also broke through the 23.6% FIB of $0.5342.
Falling short of the third major resistance level at $0.628, Stellar’s Lumen fell back to $0.57 levels before ending the day at $0.60 levels.
At the time of writing, Stellar’s Lumen was up by 4.72% to $0.6341. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.6031 before striking a high $0.6500.
Stellar’s Lumen broke through the first major resistance level at $0.6420 early on.
Stellar’s Lumen would need to avoid a fall through the $0.5700 pivot to bring the first major resistance level at $0.6420 back into play.
Support from the broader market would be need, however, for Stellar’s Lumen to break back through to $0.64 levels.
Barring a broad-based crypto rebound, the first major resistance level and this morning’s high $0.6500 would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.6785 and resistance at $0.70.
Failure to avoid a fall through the $0.5700 pivot would bring the 23.6% FIB of $0.5342 and the first major support level at $0.5335 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.50 levels. The second major support level sits at $0.4615.
First Major Support Level: $0.5335
First Major Resistance Level: $0.6420
23.6% FIB Retracement Level: $0.5342
38% FIB Retracement Level: $0.4373
62% FIB Retracement Level: $0.2808
Tron’s TRX jumped by 23.39% on Wednesday. Reversing a 9.76% loss from Tuesday, Tron’s TRX ended the day at $0.1472.
A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.1228 before making a move.
Steering clear of the 38.2% FIB of $0.1167 and the first major support level at $0.1140, Tron’s TRX rallied to a late intraday high $0.1472.
Tron’s TRX broke through the first major resistance level at $0.1284 and the second major resistance level at $0.1375.
The extended rally also saw Tron’s TRX break back through the 23.6% FIB of $0.1426 to end the day at $0.147 levels.
At the time of writing, Tron’s TRX was down by 2.46% to $0.1436. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1496 before falling to a low $0.143.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to avoid a fall through the 23.6% FIB of $0.1426 and the pivot at $0.1372 to bring the first major resistance level at $0.1572 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from this morning’s high $0.1496.
Barring an extended crypto rally, the first major resistance level and resistance at $0.16 would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at $0.18 levels. The second major resistance level sits at $0.1671.
Failure to avoid a fall through the 23.6% FIB and the $0.1372 pivot would bring the first major support level at $0.1273 into play.
Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.12 levels and the 38.2% FIB of $0.1167. The second major support level sits at $0.1073.
First Major Support Level: $0.1273
First Major Resistance Level: $0.1572
23.6% FIB Retracement Level: $0.1426
38.2% FIB Retracement Level: $0.1167
62% FIB Retracement Level: $0.0748
Please let us know what you think in the comments below
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.