After a bearish Tuesday, the majors will need to avoid the day's pivot levels to support a run at the day's major resistance levels.
EOS fell by 1.10% on Tuesday. Following a 0.79% decline on Monday, EOS ended the day at $4.4973.
A mixed start to the day saw EOS rise to an early morning intraday high $4.5514 before hitting reverse.
Falling short of the first major resistance level at $4.7284, EOS slid to a late morning intraday low $4.2658.
EOS fell through the first major support level at $4.3990 before ending the day at $4.49 levels.
At the time of writing, EOS was up by 0.35% to $4.5129. A mixed start to the day saw EOS fall to an early morning low $4.4574 before rising to a high $4.5193
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $4.4382 pivot to bring the first major resistance level at $4.6105 into play.
Support from the broader market would be needed to break out from Tuesday’s high $4.5514.
Barring a broad-based crypto rally, the first major resistance would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $4.80 levels before any pullback. The second major resistance level sits at $4.7238.
A fall through the $4.4382 pivot would bring the first major support level at $4.3249 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$4.00 levels. The second major support level at $4.1526 should limit the downside.
First Major Support Level: $4.3249
First Major resistance Level: $4.6105
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen slid by 3.43% on Tuesday. Partially reversing a 3.95% rally from Monday, Stellar’s Lumen ended the day at $0.3326.
A bearish start to the day saw Stellar’s Lumen slide from an early morning intraday high $0.3448 to a midday intraday low $0.3200.
Stellar’s Lumen fell through the 23.6% FIB of $0.3402 and the first major support level at $0.3275.
Steering clear of sub-$0.32 support levels, Stellar’s Lumen broke back through the first major support level to end the day at $0.33 levels.
At the time of writing, Stellar’s Lumen was up by 0.74% to $0.3350. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3302 before rising to a high $0.3350.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid a fall back through the $0.3325 pivot to bring the first major resistance level at $0.3449 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the 23.6% FIB of $0.3402.
Barring an extended rally, the first major resistance level and Tuesday’s high $0.3448 would likely cap the upside.
In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.36 levels before any pullback. The second major resistance level sits at $0.3573.
A fall back through the $0.3325 pivot would bring the first major support level at $0.3201 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 $0.3077 should limit the downside.
First Major Support Level: $0.3201
First Major Resistance Level: $0.3449
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX fell by 1.42% on Tuesday. Following a 0.77% loss on Monday, Tron’s TRX ended the day at $0.09577.
A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.09716 before hitting reverse.
Falling short of the 38.2% FIB of $0.09890 and the first major resistance level at $0.1007, Tron’s TRX slid to a late morning intraday low $0.09129.
Tron’s TRX fell through the first major support level at $0.09415 before a partial recovery to end the day at $0.095 levels.
At the time of writing, Tron’s TRX was up by 0.34% to $0.09610. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09488 before rising to a high $0.09610.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need avoid the $0.09474 pivot to bring the first major resistance level at $0.09819 and the 38.2% FIB of $0.09890 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.098 levels.
Barring an extended crypto rally, the first major resistance level and the 38.2% FIB would likely cap the upside.
In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.10 levels before any pullback. The second major resistance level sits at $0.1006.
A fall through the $0.09474 pivot would bring the first major support level at $0.09232 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.090 levels. The second major support level sits at $0.08887.
First Major Support Level: $0.09232
First Major Resistance Level: $0.09819
23.6% FIB Retracement Level: $0.0787
38.2% FIB Retracement Level: $0.0989
62% FIB Retracement Level: $0.1316
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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.