Following a bullish day for the majors on Wednesday, a move back through yesterday's highs would support another breakout day.
EOS rallied by 10.57% on Wednesday. Reversing a 7.34% loss from Tuesday, EOS ended the day at $4.3009.
A bearish start to the day saw EOS fall to an early morning low $3.8072 before making a move.
Steering clear of the first major support level at $3.6799, EOS rallied to a late morning intraday high $4.3343.
EOS broke through the first major resistance level at $4.2065 to end the day at $4.30 levels.
At the time of writing, EOS was down by 0.67% to $4.2720. A mixed start to the day saw EOS fall to an early morning low $4.2623 before rising to a high $4.3264.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $4.1475 pivot to bring the first major resistance level at $4.4877 into play.
Support from the broader market would be needed to break back through to $4.40 levels.
Barring a broad-based crypto rally, the first major resistance and resistance at $4.50 would likely cap any upside.
In the event of an extended rally, EOS could test the second major resistance level at $4.6746 before any pullback.
A fall through the $4.1475 pivot would bring the first major support level at $3.9006 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$3.80 levels. The second major support level sits at $3.6204.
First Major Support Level: $3.9006
First Major resistance Level: $4.4877
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rallied by 10.00% on Wednesday. Reversing a 5.71% decline from Tuesday, Stellar’s Lumen ended the day at $0.2822.
A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.2608 before making a move.
Steering clear of the first major support level at $0.2562, Stellar’s Lumen rallied to a late intraday high $0.2931.
Stellar’s Lumen broke through the first major resistance level at $0.2818 to end the day at $0.29 levels.
At the time of writing, Stellar’s Lumen was flat at $0.2627. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2908 before rising to a high $0.2943.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid the $0.2822 pivot to bring the first major resistance level at $0.3037 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.30 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 $0.32 before any pullback. The second major resistance level sits at $0.3146.
A fall through the $0.2822 pivot would bring the first major support level at $0.2713 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.27 levels. The second major support level sits at $0.2498.
First Major Support Level: $0.2713
First Major Resistance Level: $0.3037
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX jumped by 12.04% on Wednesday. Reversing a 3.62% fall from Tuesday, Tron’s TRX ended the day at $0.09892.
A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.08648 before making a move.
Steering clear of the first major support level at $0.08446, Tron’s TRX rallied to a late afternoon intraday high $0.09906.
Tron’s TRX broke through the first major resistance level at $0.09396 and the 38.2% FIB of $0.09890.
Falling short of the second major resistance level at $0.09965, however, Tron’s TRX eased back to end the day at sub-$0.099 levels. Late in the day, Tron’s TRX found support at the 38.2% FIB of $0.09890.
At the time of writing, Tron’s TRX was down by 0.10% to $0.09882. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.09771 before rising to a high $0.09962.
While leaving the major support and resistance levels untested, Tron’s TRX tested resistance at the 38.2% FIB of $0.09890 early on.
Tron’s TRX would need to avoid the $0.09482 pivot to bring the 38.2% FIB of $0.09890 and the first major resistance level at $0.1032 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.10 levels.
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 $0.11 levels before any pullback. The second major resistance level sits at $0.1074.
A fall through the $0.09482 pivot would bring the first major support level at $0.09058 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of the 23.6% FIB of $0.07870. The second major support level at $0.08224 should limit the downside.
First Major Support Level: $0.09058
First Major Resistance Level: $0.1032
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.