After a bullish end to August, the majors would need to revisit Tuesday's highs to support a bullish start to September.
EOS rose by 4.61% on Tuesday. Partially reversing a 4.90% slide from Monday, EOS ended the month up by 23.67% to $5.0393.
A mixed start to the day saw EOS fall to an early morning intraday low $4.7536 before making a move.
Steering clear of the first major support level at $4.7196, EOS rallied to a late afternoon intraday high $5.1004.
EOS broke through the first major resistance level at $4.9978 to end the day at $5.0 levels.
At the time of writing, EOS was down by 0.47% to $5.0158. A mixed start to the day saw EOS rise to an early morning high $5.0679 before falling to a low $4.9853.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $4.9644 pivot to bring the first major resistance level at $5.1753 into play.
Support from the broader market would be needed to break back through to $5.10 levels.
Barring an extended crypto rally, the first major resistance level and would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $5.30 before any pullback. The second major resistance level sits at $5.3112.
A fall through the $4.9644 pivot would bring the first major support level at $4.8285 into play.
Barring an extended sell-off, however, EOS should steer clear of the second major support level at $4.6176.
First Major Support Level: $4.8285
First Major resistance Level: $5.1753
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rose by 2.82% on Tuesday. Partially reversing a 3.90% fall from Monday, Stellar’s Lumen ended the month up by 19.16% to $0.3392.
A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.3270 before making a move.
Steering clear of the first major support level at $0.3236, Stellar’s Lumen rallied to a late afternoon intraday high $0.3564.
Stellar’s Lumen broke through the first major resistance level at $0.3412 and the second major resistance level at $0.3525.
More significantly, Stellar’s Lumen also broke through the 23.6% FIB of $0.3402 before a pullback to sub-$0.34 levels.
At the time of writing, Stellar’s Lumen was up by 0.24% to $0.3401. A mixed start to the day saw fall to an early morning low $0.3381 before rising to a high $0.3426.
While Stellar’s Lumen left the major support and resistance levels untested early on, Stellar’s Lumen tested resistance at the 23.6% FIB of $0.3402.
Stellar’s Lumen would need to move back through the 23.6% FIB and the $0.3409 pivot to bring the first major resistance level at $0.3547 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.35 levels.
Barring an extended rally, the first major resistance level and Tuesday’s high $0.3564 would likely cap any upside.
In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.37 before any pullback. The second major resistance level sits at $0.3703.
Failure to move back through the 23.6% FIB and the $0.3409 pivot would bring the first major support level at $0.3253 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3115.
First Major Support Level: $0.3253
First Major Resistance Level: $0.3547
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX rose by 2.47% on Tuesday. Reversing a 2.09% fall from Monday, Tron’s TRX ended the month up by 37.80% to $0.08862.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.08474 before making a move.
Finding support at the first major support level at $0.08482, Tron’s TRX rallied to a late afternoon intraday high $0.09115.
Tron’s TRX broke through the first major resistance level at $0.08865 and the second major resistance level at $0.09082.
A choppy end to the day, however, saw Tron’s TRX fall back through the major resistance levels to sub-$0.88 levels before ending the day at $0.0886 levels. The first major resistance level at $0.08865 pinned Tron’s TRX back late in the day.
At the time of writing, Tron’s TRX was up by 0.21% to $0.08881. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.08943 before falling to a low $0.08825.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to avoid the $0.08817 pivot to bring the first major resistance level at $0.09160 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.091 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.09115 would likely cap any upside.
In the event of an extended rally, Tron’s TRX could test resistance at $0.095 before any pullback. The second major resistance level sits at $0.09458.
A fall through the $0.08817 pivot would bring the first major support level at $0.08519 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.080 levels. The second major support level at $0.08176 should limit the downside.
First Major Support Level: $0.08519
First Major Resistance Level: $0.09160
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.