After a mixed day for the majors on Tuesday, failure to revisit Tuesday's highs would bring support levels into play.
EOS rose by 0.98% on Tuesday. After having ended the day flat on Monday, EOS ended the day at $4.4611.
After a mixed morning, EOS rose to an early afternoon intraday high $4.5178 before hitting reverse.
Falling short of the first major resistance level at $4.5387, EOS fell to an early afternoon intraday low $4.3642.
Steering clear of the first major support level at $4.3257, EOS recovered to end the day at $4.46 levels.
At the time of writing, EOS was down by 0.05% to $4.4589. A mixed start to the day saw EOS fall to an early morning low $4.4507 before rising to a high $4.4727.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $4.4477 pivot to bring the first major resistance level at $4.5312 into play.
Support from the broader market would be needed to break back through to $4.50 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 $4.70 levels before any pullback. The third major resistance level sits at $4.6013.
A fall through the $4.4477 pivot would bring the first major support level at $4.3776 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$4.30 levels. The second major support level sits at $4.2941.
First Major Support Level: $4.3776
First Major resistance Level: $4.5312
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen fell by 1.50% on Tuesday. Following a 0.99% decline on Monday, Stellar’s Lumen ended the day at $0.3738.
A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.3838 before hitting reverse.
Falling short of the first major resistance level at $0.3911, Stellar’s Lumen fell to an early afternoon intraday low $0.3667.
Stellar’s Lumen fell through the first major support level at $0.3721 before briefly revisiting $0.373 levels.
Bearish late in the day, however, Stellar’s Lumen briefly fell back through the first major support level before ending the day at $0.373 levels.
At the time of writing, Stellar’s Lumen was down by 0.82% to $0.3708. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.3744 before falling to a low $0.3706.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move through the $0.3748 pivot to bring the first major resistance level at $0.3828 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.38 levels.
Barring an extended rally, the first major resistance level and Tuesday’s high $0.3838 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 $0.3919.
Failure to move through the $0.3748 pivot would bring the first major support level at $0.3657 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.35 support levels. The second major support level at $0.3577 should limit the downside.
First Major Support Level: $0.3657
First Major Resistance Level: $0.3828
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX rose by 2.31% on Tuesday. Reversing a 1.04% loss from Monday, Tron’s TRX ended the day at $0.1003.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.09750 before making a move.
Steering clear of the first major support level at $0.09637, Tron’s TRX rallied to a late morning intraday high $0.1015.
Tron’s TRX broke through the 38.2% FIB of $0.09890 and the first major resistance level at $0.09981.
An early afternoon pullback, however, saw Tron’s TRX fall back to sub-$0.099 levels before a finding support.
Late in the day, Tron’s TRX broke back through the 38.2% FIB and the first major resistance level to end the day at $0.10 levels.
At the time of writing, Tron’s TRX was up by 0.40% to $0.1007. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.1011 before falling to a low $0.1000.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to avoid the $0.09977 pivot to bring the first major resistance level at $0.1020 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.1015.
Barring an extended crypto rally, the first major resistance level 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 $0.1038.
A fall through the $0.09977 pivot would bring the 38.2% FIB of $0.09890 and the first major support level at $0.09803 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.096 levels. The second major support level sits at $0.09577.
First Major Support Level: $0.09803
First Major Resistance Level: $0.1020
23.6% FIB Retracement Level: $0.0787
38.2% FIB Retracement Level: $0.0989
62% FIB Retracement Level: $0.1316
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.