After a choppy day for the majors on Monday, avoiding the day's early lows would be needed to support a run at the day's major resistance levels.
EOS fell by 1.18% on Monday. Following a 10.51% rally on Sunday, EOS ended the day at $6.2236.
A mixed start to the day saw EOS rise to a late morning intraday high $6.4264 before hitting reverse.
Falling short of the 23.6% FIB of $6.52 and the first major resistance level at $6.5743, EOS slid to a mid-day intraday low $5.9081.
Steering clear of the first major support level at $5.7766, EOS moved back through to $6.20 levels to reduce the deficit.
At the time of writing, EOS was down by 1.74% to $6.1153. A mixed start to the day saw EOS rise to an early morning high $6.2576 before falling to a low $6.1126.
EOS left the major support and resistance levels untested early on.
EOS would need to move back through the $6.1860 pivot to bring the first major resistance level at $6.4640 and the 23.6% FIB of $6.52 into play.
Support from the broader market would be needed to break out from Monday’s high $6.4264.
Barring an extended crypto rally, the 23.6% FIB of $6.52 would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $7.00 before any pullback. The second major resistance level sits at $6.7043.
Failure to move back through the $6.1860 pivot would bring the first major support level at $5.9457 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level at $5.6677 should limit the downside.
First Major Support Level: $5.9457
First Major resistance Level: $6.4640
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rallied by 6.51% on Monday. Following a 7.60% gain on Sunday, Stellar’s Lumen ended the day at $0.4239.
A mixed start to the day saw Stellar’s Lumen rise to a late morning high $0.4197 before hitting reverse.
Stellar’s Lumen broke through the first major resistance level at $0.4079 and the second major resistance level at $0.4178.
The reversal saw Stellar’s Lumen slide to a mid-day intraday low $0.3899 before making a move.
Steering clear of the first major support level at $0.3782, Stellar’s Lumen rallied to a late intraday high $0.4302.
Stellar’s Lumen broke back through the first major resistance level at $0.4079 and the second major resistance level at $0.4178
The breakout also saw Stellar’s Lumen break through the 38.2% FIB of $0.4277 before ending the day at sub-$0.4240 levels.
At the time of writing, Stellar’s Lumen was down by 1.99% to $0.4155. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4245 before falling to a low $0.4133.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid a fall back through the $0.4147 pivot to bring the first major resistance level at $0.4394 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the 38.2% FIB of $0.4277.
Barring an extended rally, the first major resistance level would likely cap any upside.
In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.47 levels before any pullback. The second major resistance level sits at $0.4550.
A fall through the $0.4147 pivot would bring the first major support level at $0.3991 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of the second major support level at $0.3744.
First Major Support Level: $0.3991
First Major Resistance Level: $0.4394
23.6% FIB Retracement Level: $0.
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX fell by 1.24% on Monday. Partially reversing a 3.14% gain from Sunday, Tron’s TRX ended the day at $0.1038.
A mixed start to the day saw Tron’s TRX rise to a late morning intraday high $0.1078 before hitting reverse.
Tron’s TRX broke through the first major resistance level at $0.1070 before sliding to a mid-day intraday low $0.1011.
The sell-off saw Tron’s TRX fall through the first major support level at $0.1020 before ending the day at $0.1038 levels.
At the time of writing, Tron’s TRX was up by 0.55% to $0.1043. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1031 before rising to a high $0.1052.
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 $0.1042 pivot to bring the first major resistance level at $0.1074 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.1070 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.1078 would likely cap any upside.
In the event of an extended rally, Tron’s TRX could test resistance at $0.11 levels before any pullback. The second major resistance level sits at $0.1109.
A fall back through the $0.1042 pivot would bring the first major support level at $0.1007 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of the 38.2% FIB of $0.09890. The second major support level sits at $0.09753.
First Major Support Level: $0.1007
First Major Resistance Level: $0.1074
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.