It's a particularly bullish start to the day. Avoiding the day's pivot levels would leave resistance levels in play.
EOS slid by 6.86% on Tuesday. Reversing a 4.45% gain from Monday, EOS ended the day at $6.3465.
A bearish start to the day saw EOS tumble to an early morning intraday low $6.2222 before making a move.
EOS fell through the first major support level at $6.5945, the 23.6% FIB of $6.5200, and the second major support level at $6.3697.
Steering clear of sub-$6.00 levels, EOS bounced back to an early afternoon intraday high $7.0965.
Breaking back through the major support levels and the 23.6% FIB, EOS also broke through the first major resistance level at $6.9727.
Falling short of the second major resistance level at $7.4849, EOS slid back to end the day at sub-$6.35 levels.
The reversal saw EOS fall back through the first major support level at $6.5945, the 23.6% FIB of $6.5200, and the second major support level at $6.3697.
At the time of writing, EOS was up by 14.31% to $7.2541. A mixed start to the day saw EOS fall to an early morning low $6.1920 before rallying a high $7.4549.
EOS broke through the 23.6% FIB, the first major resistance level at $6.8879 and the second major resistance level at $7.4249 early on.
EOS would need to avoid a fall back through the first major resistance level to support another run at the second major resistance level at $7.4294.
Support from the broader market would be needed for EOS to break back through to $7.40 levels.
Barring an extended rally throughout the day, the second major resistance level and this morning’s high $7.4549 will likely cap the upside.
In the event of an extended breakout, EOS will eye $8.00 levels before any pullback. The third major resistance level sits at $8.3037.
Failure to avoid a fall through first major resistance level would bring the $6.5515 pivot and the 23.6% FIB of $6.52 into play.
Barring an extended sell-off, however, EOS should steer clear of the first major support level at $6.0136.
First Major Support Level: $6.0136
First Major resistance Level: $6.8879
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen slid by 8.82% on Tuesday. Following on from a 0.92% loss on Monday, Stellar’s Lumen ended the day at $0.5024.
A bearish start to the day saw Stellar’s Lumen tumble from an early morning intraday high $0.5513 to an afternoon intraday low $0.4955.
The sell-off saw Stellar’s Lumen fall through the first major support level at $0.5367 and the second major support level at $0.5221.
Stellar’s Lumen also fell through the 23.6% FIB of $0.5342 to end the day at $0.50 levels.
At the time of writing, Stellar’s Lumen was up by 4.86% to $0.5268. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.4980 before rising to a high $0.5290.
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 $0.5164 to bring the 23.6% FIB of $0.5342 and the first major resistance level at $0.5373 into play.
Support from the broader market would be need, however, for Stellar’s Lumen to breakout from the 23.6% FIB of $0.5342.
Barring a broad-based crypto rebound, the first major resistance level and resistance at $0.54 would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test the second major resistance level at $0.5722.
Failure to avoid a fall back through the $0.5164 pivot would bring the first major support level at $0.4815 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.48 levels. The second major support level sits at $0.4606.
First Major Support Level: $0.4815
First Major Resistance Level: $0.5373
23.6% FIB Retracement Level: $0.5342
38% FIB Retracement Level: $0.4373
62% FIB Retracement Level: $0.2808
Tron’s TRX slid by 9.76% on Tuesday. Reversing a 3.28% gain from Monday, Tron’s TRX ended the day at $0.1193.
A bearish start to the day saw Tron’s TRX fall from an early morning intraday high $0.1322 to late afternoon intraday low $0.1178.
Tron’s TRX fell through the first major support level at $0.1273 and the second major support level at $0.1223.
Steering clear of the 38.2% FIB of $0.1167, Tron’s TRX briefly broke back through the second major support level to revisit $0.124 levels.
A bearish end to the day, however, saw Tron’s TRX fall back to end the day at sub-$0.12 levels.
At the time of writing, Tron’s TRX was 4.86% to $0.1251. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1171 before rising to a high $0.1264.
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 pivot at $0.1231 to bring the first major resistance level at $0.1284 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from this morning’s high $0.1264.
Barring an extended crypto rally, the first major resistance level and resistance at $0.1300 would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at resistance at $0.14. The second major resistance level sits at $0.1375.
Failure to avoid a fall back through the $0.1231 pivot would bring the 38.2% FIB of $0.1167 and the first major support level at $0.1140 into play.
Barring another extended sell-off, Tron’s TRX should steer clear of sub-$0.11 levels. The second major support level sits at $0.1087.
First Major Support Level: $0.1140
First Major Resistance Level: $0.1284
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.