It's a mixed start to the day for the majors. Avoiding a fall through the day's pivot levels would support a recovery of yesterday's reversal.
EOS fell 6.35% on Sunday. Following on from an 8.49% slide on Saturday, EOS ended the week up by 8.58% to $7.2996.
A bullish start to the day saw EOS rise to an early morning intraday high $7.9496 before hitting reverse.
Falling short of the first major resistance level at $8.5691 slid to an early morning intraday low $5.7984.
The sell-off saw EOS fall through the first major support level at $7.3032 and the second major support level at $6.8203.
EOS also fell through the 23.6% FIB of $6.52 before finding support.
Steering clear of the third major support level at $5.5544, EOS bounced back to end the day at $7.2 levels.
The partial recovery saw EOS break back through the 23.6% FIB and the second major support level.
At the time of writing, EOS was down by 0.42% to $7.2877. A mixed start to the day saw EOS fall to an early morning low $7.0454 before rising to a high $7.5766.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $7.0159 pivot level to support a run at the first major resistance level at $8.2333.
Support from the broader market would be needed, however, for EOS to break back through to $8.00 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $9.00 before any pullback. The second major resistance level sits at $9.1671.
A fall through the $7.0159 pivot would bring the 23.6% FIB of $6.52 and the first major support level at $6.0821 into play.
Barring another extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level sits at $4.8647.
First Major Support Level: $6.0821
First Major resistance Level: $8.2333
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen slid by 7.83% on Sunday. Following on from a 3.03% loss on Saturday, Stellar’s Lumen ended the week down by 6.52% to $0.5460.
A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.6014 before hitting reverse.
Falling short of the first major resistance level at $0.6275, Stellar’s Lumen slid to an early morning intraday low $0.4590.
Stellar’s Lumen fell through the day’s major support levels and through the 23.6% FIB of $0.5342.
Finding support in the afternoon, Stellar’s Lumen bounced back to end the day at $0.54 levels.
The partial recovery saw Stellar’s Lumen break back through the third major support level at $0.5017 and the 23.6% FIB of $0.5342.
At the time of writing, Stellar’s Lumen was up by 0.79% to $0.5503. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.5362 before rising to a high $0.5623.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid the pivot level at $0.5355 and the 23.6% FIB to bring the first major resistance level at $0.6119 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen break back through to $0.60 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.65. The second major resistance level sits at $0.6778.
A fall through the $0.5355 pivot and the 23.6% FIB of $0.5342 would bring the first major support level at $0.4695 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.40 levels. the second major support level sits at $0.3931.
First Major Support Level: $0.4695
First Major Resistance Level: $0.6119
23.6% FIB Retracement Level: $0.5342
38% FIB Retracement Level: $0.4373
62% FIB Retracement Level: $0.2808
Tron’s TRX slid by 7.72% on Sunday. Following on from a 3.42% decline from Saturday, Tron’s TRX ended the week up by 17.91% to $0.1435.
A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.1577 before hitting reverse.
Falling short of the first major resistance level at $0.1739, Tron’s TRX slid to an early morning intraday low $0.1206.
Tron’s TRX fell through the first major support level at $0.1446 and the second major support level at $0.1338.
The sell-off also saw Tron’s TRX slide through the 23.6% FIB of $0.1426 before finding support.
Through the afternoon, Tron’s TRX broke back through the major support levels and the 23.6% FIB to visit $0.145 levels.
A bearish end to the day, however, saw Tron’s TRX fall back through the first major support level at $0.1446 to end the day at sub-$0.144 levels.
At the time of writing, Tron’s TRX was up by 1.29% to $0.1454. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1379 before rising to a high $0.1497.
While leaving the major support and resistance levels untested early on, Tron’s TRX briefly fell through the 23.6% FIB.
Tron’s TRX would need to avoid a fall back through the 23.6% FIB and the $0.1406 pivot to bring the first major resistance level at $0.1606 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.15 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at $0.17 before any pullback. The second major resistance level sits at $0.1777.
A fall back through the 23.6% FIB of $0.1426 and the $0.1406 pivot would bring the first major support level at $0.1235 into play.
Barring an extended sell-off, Tron’s TRX should steer clear of the second major support level at $0.1035. The 38.2% FIB of $0.1167 should limit the downside.
First Major Support Level: $0.1235
First Major Resistance Level: $0.1606
23.6% FIB Retracement Level: $0.1426
38.2% FIB Retracement Level: $0.1167
62% FIB Retracement Level: $0.0748
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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.