After a bullish session mid-week, the majors will need to avoid the day's pivot levels to support another bullish day ahead.
EOS rallied by 8.19% on Wednesday. Following a 0.98% gain on Tuesday, EOS ended the day at $4.8263.
A mixed start to the day saw EOS fall to an early morning intraday low $4.4386 before making a move.
Steering clear of the first major support level at $4.3776, EOS rallied to a late intraday high $4.8915.
EOS broke through the day’s major resistance levels to wrap up the day at $4.8 levels.
At the time of writing, EOS was up by 1.70% to $4.9084. A mixed start to the day saw EOS fall to an early morning low $4.8024 before rising to a high $4.9084.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $4.7188 pivot to bring the first major resistance level at $4.9990 into play.
Support from the broader market would be needed to break back through to $4.95 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 $5.20 levels before any pullback. The third major resistance level sits at $5.1717.
A fall through the $4.7188 pivot would bring the first major support level at $4.5461 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$4.50 levels. The second major support level sits at $4.2659.
First Major Support Level: $4.5461
First Major resistance Level: $4.9990
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rose by 4.79% on Wednesday. Reversing a 1.50% loss from Tuesday, Stellar’s Lumen ended the day at $0.3917.
A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3678 before making a move.
Steering clear of the first major support level at $0.3657, Stellar’s Lumen rallied to a late intraday high $0.3924.
Stellar’s Lumen broke through the first major resistance level at $0.3828 and the second major resistance level at $0.3919.
A late pullback, however, saw Stellar’s Lumen fall back through the second major resistance level to end the day at sub-$0.3917.
At the time of writing, Stellar’s Lumen was up by 0.64% to $0.3941. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.3906 before rising to a high $0.3942.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid the $0.3840 pivot to bring the first major resistance level at $0.4001 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.40 levels.
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 the 38.2% FIB of $0.4277 before any pullback. The second major resistance level sits at $0.4086.
A fall through the $0.3840 pivot would bring the first major support level at $0.3755 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.35 support levels. The second major support level at $0.3594 should limit the downside.
First Major Support Level: $0.3755
First Major Resistance Level: $0.4001
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX rose by 3.39% on Wednesday. Following a 2.31% gain on Tuesday, Tron’s TRX ended the day at $0.1037.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.09955 before making a move.
Steering clear of the 38.2% FIB of $0.09890 and the first major support level at $0.09803, Tron’s TRX rallied to a mid-morning intraday high $0.1064.
Tron’s TRX broke through the first major resistance level at $0.1020 and the second major resistance level at $0.1038.
A pullback, however, saw Tron’s TRX fall back through the major resistance levels to sub-$0.1020 before finding support.
Late in the day, Tron’s TRX broke back through the first major resistance level to end the day at $0.1030 levels.
At the time of writing, Tron’s TRX was down by 0.37% to $0.1033. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1025 before rising to a high $0.1040.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to avoid a fall back through the $0.1032 pivot to bring the first major resistance level at $0.1069 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.1064.
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 $0.115 levels before any pullback. The second major resistance level sits at $0.1101.
A fall back through the $0.1032 pivot would bring the first major support level at $0.1000 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.09637. The 38.2% FIB of $0.09890 should limit the downside.
First Major Support Level: $0.1000
First Major Resistance Level: $0.1069
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.