After a bullish day for the majors on Wednesday, a move back through yesterday's highs would support a breakout.
EOS rose by 1.54% on Wednesday. Partially reversing a 3.66% slide on Tuesday, EOS ended the day at $3.7422.
A mixed start to the day saw EOS fall to an early morning intraday low $3.6363 before making a move.
Steering clear of the first major support level at $3.5960, EOS rose to a mid-day intraday high $3.8714.
EOS broke through the first major resistance level at $3.8372 before sliding back to end the day at sub-$3.75 levels.
At the time of writing, EOS was up by 0.09% to $3.7457. A mixed start to the day saw EOS fall to an early morning low $3.7241 before rising to a high $3.7683.
EOS left the major support and resistance levels untested early on.
EOS would need to move back through the $3.7500 pivot to bring the first major resistance level at $3.8636 into play.
Support from the broader market would be needed to break back through to $3.85 levels.
Barring a broad-based crypto rally, the first major resistance and Wednesday’s high $3.8714 would likely cap any upside.
In the event of an extended rally, EOS could test the second major resistance level at $3.9851 before any pullback.
Failure to move back through the $3.7500 pivot would bring the first major support level at $3.6285 into play.
Barring an extended sell-off, however, EOS should steer clear of sub-$3.50 levels. The second major support level at $3.5149 should limit the downside.
First Major Support Level: $3.6285
First Major resistance Level: $3.8636
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumen rose by 4.98% on Wednesday. Reversing a 3.57% fall from Tuesday, Stellar’s Lumen ended the day at $0.2696.
A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.2551 before making a move.
Steering clear of the first major support level at $0.2512, Stellar’s Lumen rallied to an early afternoon intraday high $0.2792.
Stellar’s Lumen broke through the first major resistance level at $0.2663 and the second major resistance level at $0.2758.
A pullback to sub-$0.27 levels, however, saw Stellar’s Lumen fall back through the second major resistance level.
At the time of writing, Stellar’s Lumen was up by 0.58% to $0.2712. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.2684 before rising to a high $0.2719.
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 $0.2680 pivot to bring the first major resistance level at $0.2808 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from $0.2750 levels.
Barring an extended rally, the first major resistance level and Wednesday’s high $0.2792 would likely cap the upside.
In the event of a broad-based crypto rally, Stellar’s Lumen could test resistance at $0.30 before any pullback. The second major resistance level sits at $0.2921.
A fall back through the $0.2680 pivot would bring the first major support level at $0.2567 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.25 levels. The second major support level sits at $0.2567.
First Major Support Level: $0.2567
First Major Resistance Level: $0.2808
23.6% FIB Retracement Level: $0.3402
38% FIB Retracement Level: $0.4277
62% FIB Retracement Level: $0.5690
Tron’s TRX rose by 3.72% on Wednesday. Partially reversing a 3.18% slide from Tuesday, Tron’s TRX ended the day at $0.08598.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.08238 before making a move.
Steering clear of the first major support level at $0.08116, Tron’s TRX rallied to a mid-day intraday high $0.08813.
Tron’s TRX broke through the first major resistance level at $0.08615 before briefly falling back to sub-$0.085 levels.
At the time of writing, Tron’s TRX was up by 0.33% to $0.08626. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.08533 before rising to a high $0.08649.
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 $0.08550 pivot to bring the first major resistance level at $0.08861 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.088 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.08813 would likely cap the upside.
In the event of a broad-based crypto rally, Tron’s TRX could test resistance at $0.095 levels before any pullback. The second major resistance level sits at $0.09125.
A fall back through the $0.08550 pivot would bring the first major support level at $0.08286 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of the 23.6% FIB of $0.07870. The second major support level at $0.07975 should limit the downside.
First Major Support Level: $0.08286
First Major Resistance Level: $0.08861
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.