It's a mixed start to the day for the majors, with EOS making an early move. A return to early highs would support another day of gains.
EOS rallied by 12.99% on Wednesday. Following a 1.03% gain on Tuesday, EOS ended the day at $6.4446.
A mixed start to the day saw EOS fall to an early morning intraday low $5.5506 before making a move.
Steering clear of the first major support level at $5.1680, EOS rallied to a late morning intraday high $6.5046.
EOS broke through the first major resistance level at $6.1376 before falling back to sub-$6.00 levels.
Finding late support, however, EOS broke back through the first major resistance level to end the day at $6.44 levels.
At the time of writing, EOS was up by 1.63% to $6.5497. A mixed start to the day saw EOS fall to an early morning low $6.4039 before rising to a high $6.7729.
While leaving the major support and resistance levels untested early on, EOS broke through the 23.6% FIB of $6.52.
EOS would need to avoid a fall through the 23.6% FIB and the $6.1666 pivot to bring the first major resistance level at $6.7826 into play.
Support from the broader market would be needed for EOS to break out from the morning high $6.7729.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
In the event of another extended rally, EOS could test resistance at $7.00 levels. The second major resistance level sits at $7.1206.
A fall through the 23.6% FIB of $6.52 and the $6.1666 pivot and would bring the first major support level at $5.8286 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level at $5.2126.
First Major Support Level: $5.8286
First Major resistance Level: $6.7826
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rose by 3.28% on Wednesday. Reversing a 2.43% decline from Tuesday, Stellar’s Lumen ended day at $0.4435.
A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.4210 before making a move.
Steering clear of the first major support level at $0.4037, Stellar’s Lumen rose to a late morning intraday high $0.4703.
Stellar’s Lumen broke through the first major resistance level at $0.4583 before a slide back to sub-$0.43 levels.
Finding late support, however, Stellar’s Lumen moved back through to $0.44 levels to deliver the upside on the day.
At the time of writing, Stellar’s Lumen was down by 0.79% to $0.4400. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.4437 before falling to a low $0.4320.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move through the $0.4449 pivot to bring the first major resistance level at $0.4689 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.46 levels.
Barring an extended rally, the first major resistance level and Wednesday’s high $0.4703 would likely cap any upside.
In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at the 38.2% FIB of $0.5035. The second major resistance level sits at $0.4942.
Failure to move through the $0.4449 pivot would bring the first major support level at $0.4196 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 $0.3956.
A sustained fall through the 62% FIB of $0.3216 would form a near-term bearish trend from 16th May’s swing hi $0.7978.
First Major Support Level: $0.4196
First Major Resistance Level: $0.4689
23.6% FIB Retracement Level: $0.6160
38% FIB Retracement Level: $0.5035
62% FIB Retracement Level: $0.3216
Tron’s TRX rallied by 7.46% on Wednesday. Following a 0.28% gain on Tuesday, Tron’s TRX ended the day at $0.08331.
Tracking the broader market, Tron’s TRX fell to an early morning intraday low $0.07573 before making a move.
Steering clear of the first major support level at $0.07721, Tron’s TRX rallied to a mid-morning intraday high $0.08471.
Tron’s TRX broke through the first major resistance level at $0.08222 before a pullback to $0.078 levels.
Finding late support, however, Tron’s TRX broke back through the first major resistance level to end the day at $0.083 levels.
At the time of writing, Tron’s TRX was down by 1.91% to $0.08172. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.08364 before falling to a low $0.08045.
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 $0.08125 to bring the first major resistance level at $0.08677 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.08471.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a broad-based crypto rally, Tron’s TRX could test the second major resistance level at $0.09023.
Failure to avoid a fall back through the $0.08125 pivot would bring the first major support level at $0.07779 into play.
Barring an extended sell-off, however, Tron’s TRX should avoid the 62% FIB of $0.07480. The second major support level sits at $0.07227.
A sustained fall back through the 62% FIB of $0.0748 would form a near-term bearish trend from April’s swing hi $0.1844.
First Major Support Level: $0.07779
First Major Resistance Level: $0.08677
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.