Following a broad-based crypto rally on Wednesday, the majors would need to avoid the day's pivot levels else face a reversal.
EOS rose by 2.27% on Wednesday. Following a 0.02% decline on Tuesday, EOS ended the day at $4.1158.
A mixed start to the day saw EOS fall to a late morning intraday low $3.9228 before making a move.
Steering clear of the first major support level at $3.8944, EOS rallied to a late intraday high $4.1550.
EOS broke through the first major resistance level at $4.1250 before briefly falling back to sub-$4.10 levels.
At the time of writing, EOS was down by 0.12% to $4.1109. A mixed start to the day saw EOS rise to an early morning high $4.1434 before falling to a low $4.0933.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $4.0645 pivot to bring the first major resistance level at $4.2063 into play.
Support from the broader market would be needed for EOS to break out from Wednesday’s high $4.1550.
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 $4.30. The second major resistance level sits at $4.2967.
A fall through the $4.0645 pivot would bring the first major support level at $3.9741 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$3.90 levels. The second major support level sits at $3.8323.
First Major Support Level: $3.9741
First Major resistance Level: 4.2063
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rose by 2.33% on Wednesday. Following a 0.04% gain on Tuesday, Stellar’s Lumen ended the day at $0.2806.
A mixed start saw Stellar’s Lumen fall to a late morning intraday low $0.2650 before making a move.
Stellar’s Lumen fell through the first major support level at $0.2660 before rallying to a late intraday high $0.2840.
Stellar’s Lumen broke through the first major resistance level at $0.2806 to end the day at $0.28 levels.
At the time of writing, Stellar’s Lumen was down by 0.51% to $0.2792. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.2815 before falling to a low $0.2776.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid the $0.2765 pivot to bring the first major resistance level at $0.2881 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s high $0.2840.
Barring an extended rally, the first major resistance level and resistance at $0.29 would likely cap any upside.
In the event of another broad-based crypto rally, Stellar’s Lumen could test resistance at $0.30 before any pullback. The second major resistance level sits at $0.2955.
A fall through the $0.2765 pivot would bring the first major support level at $0.2691 into play.
Barring an extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.26 levels. The second major support level sits at $0.2575.
First Major Support Level: $0.2691
First Major Resistance Level: $0.2881
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX rallied by 4.68% on Wednesday. Reversing a 1.31% loss from Tuesday, Tron’s TRX ended the day at $0.06714.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.06339 before making a move.
Steering clear of the first major support level at $0.06259, Tron’s TRX rallied to a late intraday high $0.06831.
Tron’s TRX broke through the first major resistance level at $0.06574 and the second major resistance level at $0.06732 before ending the day at sub-$0.06720 levels.
At the time of writing, Tron’s TRX was up by 1.19% to $0.06794. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.06699 before rising to a high $0.06833.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to avoid the $0.06628 pivot to bring the first major resistance level at $0.06917 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.06850 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $0.070 would likely cap any upside.
In the event of an extended rally, Tron’s TRX could test resistance at $0.072. The second major resistance level sits at $0.07120.
A fall through the $0.06628 pivot would bring the first major support level at $0.06425 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.06 levels. The second major support level at $0.06136 should limit the downside.
First Major Support Level: $0.06425
First Major Resistance Level: $0.06917
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.