Following Wednesday's gains, avoiding the day's pivot levels would support another breakout day ahead.
EOS rose by 2.32% on Wednesday. Reversing a 1.10% decline from Tuesday, EOS ended the day at $4.6016.
A mixed start to the day saw EOS fall to a late morning intraday low $4.3758 before making a move.
Steering clear of the first major support level at $4.3249, EOS rallied to a late intraday high $4.6105.
Coming up against the first major resistance level at $4.6105, EOS briefly eased back to sub-$4.60 levels.
At the time of writing, EOS was down by 0.35% to $4.5856. A mixed start to the day saw EOS rise to an early morning high $4.6133 before falling to a low $4.5733.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $4.5293 pivot to bring the first major resistance level at $4.6828 into play.
Support from the broader market would be needed to break out from $4.6150 levels.
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 $4.7640.
A fall through the $4.5293 pivot would bring the first major support level at $4.4481 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$4.30 levels. The second major support level sits at $4.2946.
First Major Support Level: $4.4481
First Major resistance Level: $4.6828
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen surged by 10.71% on Wednesday. Reversing a 3.43% slide from Tuesday, Stellar’s Lumen ended the day at $0.3681.
A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3302 before making a move.
Steering clear of the first major support level at $0.3201, Stellar’s Lumen rallied to an early afternoon intraday high $0.3763.
Stellar’s Lumen broke through the first major support level at $0.3449 and the second major resistance level at $0.3573.
The breakout also saw Stellar’s Lumen break through the 23.6% FIB of $0.3402 to end the day at $0.368 levels.
At the time of writing, Stellar’s Lumen was up by 0.03% to $0.3682. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3715 before falling to a low $0.3680.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid a fall through the $0.3582 pivot to bring the first major resistance level at $0.3862 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s high $0.3763.
Barring an extended rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.40 levels before any pullback. The second major resistance level sits at $0.4043.
A fall through the $0.3582 pivot would bring the 23.6% FIB of $0.3402 and the first major support level at $0.3401 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.32 levels. The second major support level sits at $0.3121.
First Major Support Level: $0.3401
First Major Resistance Level: $0.3862
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX rose by 2.44% on Wednesday. Reversing a 1.42% fall from Tuesday, Tron’s TRX ended the day at $0.09811.
A mixed start to the day saw Tron’s TRX fall to a late morning intraday low $0.09292 before making a move.
Steering clear of the first major support level at $0.09232, Tron’s TRX rallied to a late intraday high $0.09825.
Coming up against the first major resistance level at $0.09819, Tron’s TRX eased back to end the day at $0.0981 levels.
At the time of writing, Tron’s TRX was down by 0.56% to $0.09757. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.09836 before falling to a low $0.09701
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need avoid the $0.09643 pivot to bring the 38.2% FIB of $0.09890 and the first major resistance level at $0.09993 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.099 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $0.10 would likely cap the upside.
In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.1050 levels before any pullback. The second major resistance level sits at $0.1018.
A fall through the $0.09643 pivot would bring the first major support level at $0.09460 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.090 levels. The second major support level at $0.09110 should limit the downside.
First Major Support Level: $0.09460
First Major Resistance Level: $0.09993
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.