It's a mixed start to the day for the majors. Failure to move through the pivot levels would bring support levels into play.
EOS slid by 4.91% on Wednesday. Partially reversing a 6.36% rally from Tuesday, EOS ended the day at $3.4262.
A mixed start to the day saw EOS fall from an early high $3.6631 to a mid-morning low $3.3684.
Steering clear of the major support levels, EOS rallied to a late afternoon intraday high $3.8858 before hitting reverse.
Falling short of the first major resistance level at $3.8155, EOS slid to a late intraday low $3.2971.
The reversal saw EOS fall through the first major support level at $3.3556 before a partial recovery to $3.40 levels.
At the time of writing, EOS was down by 0.31% to $3.4156. A mixed start to the day saw EOS fall to an early morning low $3.3585 before rising to a high $3.5326.
EOS left the major support and resistance levels untested early on.
EOS would need to move through the $3.5364 pivot level to support a run at the first major resistance level at $3.7756.
Support from the broader market would be needed, however, for EOS to break out from $3.50 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, EOS could test resistance at $4.0 before any pullback. The second major resistance level sits at $4.1251.
Failure to move through the pivot level at $3.5364 would bring the first major support level at $3.1869 into play.
Barring another extended sell-off, however, EOS should steer of sub-$3.00 levels. The second major support level sits at $2.9477.
First Major Support Level: $3.1869
First Major resistance Level: $3.7756
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen fell by 1.63% on Wednesday. Following Tuesday’s 48.33% surge, Stellar’s Lumen ended the day at $0.19307.
It was a mixed start to the day. Stellar’s Lumen rose to an early morning high $0.2240 before hitting reverse.
Coming up against the first major resistance level at $0.22012, Stellar’s Lumen slid to a mid-morning intraday low $0.1810. The pullback saw Stellar’s Lumen fall through the 62% FIB of $0.1989.
Steering clear of the first major support level at $0.15185, Stellar’s Lumen rallied to a mid-afternoon intraday high $0.23372.
Stellar’s Lumen broke back through 62% FIB and the first major resistance level before sliding back to sub-$0.19 levels.
Finding support late in the day, however, Stellar’s Lumen returned to $0.19 levels to limit the downside on the day. The 62% FIB pinned Stellar’s Lumen back late in the day.
At the time of writing, Stellar’s Lumen was down by 0.17% to $0.19274. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.1872 before striking a high $0.2050.
Stellar’s Lumen left the major support and resistance levels untested early on. The early move saw Stellar’s Lumen briefly break back through the 62% FIB of $0.1989, however.
Stellar’s Lumen would need to move through the $0.2026 pivot to support another run at the first major resistance level at $0.2242.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back out from the 62% FIB of $0.1989.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Stellar’s Lumen could test resistance at $0.25 before any pullback. The second major resistance level sits at $0.2553.
Failure to move through the pivot level at $0.2026 would bring the first major support level at $0.1715 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of sub-$0.15 levels. The second major support level sits at $0.1499.
First Major Support Level: $0.1715
First Major Resistance Level: $0.2242
23.6% FIB Retracement Level: $0.09280
38% FIB Retracement Level: $0.1333
62% FIB Retracement Level: $0.1989
Tron’s TRX slid by 6.56% on Wednesday. Partially reversing a 10.84% jump Tuesday, Tron’s TRX ended the day at $0.032969.
It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.03628 before hitting reverse.
Falling short of the major resistance levels, Tron’s TRX fell to a mid-morning low $0.03335 before finding support.
Steering clear of the major support levels, Tron’s TRX rose to an early afternoon intraday high $0.037714 before taking another hit.
Falling short of the first major resistance level at $0.03931, Tron’s TRX slid to a late intraday low $0.031401.
Steering clear of the first major support level at $0.03128, Tron’s TRX moved back through to $0.032 levels to cut the deficit on the day.
At the time of writing, Tron’s TRX was down by 0.12% to $0.03293. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.03217 before rising to a high $0.03404.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to move through the $0.03403 pivot level to support another run at the first major resistance level at $0.03666.
Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.035 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.037714 would likely cap any upside.
In the event of another breakout, the second major resistance level at $0.04034 would likely come into play.
Failure to move through the $0.03403 pivot level would bring the first major support level at $0.03034 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.030 levels. The second major support level sits at $0.02772.
First Major Support Level: $0.03034
First Major Resistance Level: $0.03666
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.