Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 15th, 2020
Litecoin
Litecoin rose by 0.09% on Tuesday. Following a 1.92% decline from Monday, Litecoin ended the day at $43.88.
A bearish start to the day saw Litecoin fall to an early morning intraday low $42.89 before finding support.
Holding above the first major support level at $42.50, Litecoin rose to a late intraday high $44.00.
Falling short of the first major resistance level at $45.43 Litecoin slipped back to wrap up the day at sub-$44 levels.
At the time of writing, Litecoin was down by 0.05% to $43.86. A mixed start to the day saw Litecoin rise to an early morning high $44.00 before falling to a low $43.78.
Litecoin left the major support and resistance levels untested early in the day.
For the day ahead
Litecoin would need to avoid a fall through the $43.59 pivot to support a run at the first major resistance level at $44.29.
Support from the broader market would be needed, however, for Litecoin to break back through to $44 levels.
Barring another crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $43.59 pivot would bring the first major support level at $43.18 into play.
Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$42 levels. The second major support level at $42.48 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $43.18
Major Resistance Level: $44.29
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen rallied by 3.09% on Tuesday. Partially reversing Monday’s 5.15% slide, Stellar’s Lumen ended the day at $0.092340.
It was a bearish start to the day. Stellar’s Lumen fell to an early morning intraday low $0.085769 before making a move.
Finding support at the first major support level at $0.08575, Stellar’s Lumen rose to a late intraday high $0.092770.
Falling short of the first major resistance level at $0.09675, Stellar’s Lumen fell back to sub-$0.090 levels.
Finding late support, however, Stellar’s Lumen broke back through to $0.092 levels to end the day in the green.
At the time of writing, Stellar’s Lumen was down by 0.19% to $0.092160. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.094048 before falling to a low $0.091910.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to a fall through the $0.09029 pivot to support a run at the first major resistance level at $0.09482.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.094048.
Barring another broad-based crypto rally, the first major resistance level at $0.09482 would likely limit any upside.
Failure to avoid a fall through the $0.09029 pivot would bring the first major support level at $0.08782 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.080 levels. The second major support level at $0.08329 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $0.08782
Major Resistance Level: $0.09482
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.14336518
62% FIB Retracement Level: $0.2050
Tron’s TRX
Tron’s TRX rose by 0.85% on Tuesday. Following a 3.46% slide from Monday, Tron’s TRX ended the day at $0.017685.
It was also a bearish start to the day. Tron’s TRX fell to an early morning intraday low $0.017145 before finding support.
Steering clear of the first major support level at $0.01693, Tron’s TRX struck a late intraday high $0.017754.
Coming up short of the first major resistance level at $0.01834, slipped back to sub-$0.0177 levels.
At the time of writing, Tron’s TRX was up by 0.45% to $0.017742. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.017702 to a high $0.017742.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to avoid a fall through the $0.01753 pivot level to support a run at the first major resistance level at $0.01791.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.017754.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $0.01753 pivot level would bring the first major support level at $0.01730 into play.
Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.017 levels. The second major support level sits at $0.01692.
Looking at the Technical Indicators
Major Support Level: $0.01730
Major Resistance Level: $0.01791
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
Please let us know what you think in the comments below
Thanks, Bob
This article was originally posted on FX Empire
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