Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 19/02/20
In This Article:
Litecoin
Litecoin rallied by 5.41% on Tuesday. Reversing a 1.63% decline from Monday, Litecoin ended the day at $77.40.
A choppy start to the day saw Litecoin rise to an early morning high $75.42 before hitting reverse.
Falling short of the major resistance levels, Litecoin slid to an early afternoon intraday low $70.22 before making a move.
Steering clear of the first major support level at $69.52, Litecoin rallied to a late intraday high $79.17.
Litecoin broke through the first major resistance level at $76.41 and the 38.2% FIB of $78 before falling back to sub-$78 levels.
The second major resistance level at $79.38 capped Litecoin’s upside on the day.
At the time of writing, Litecoin was down by 0.97% to $76.65. A bearish start to the day saw Litecoin fall from an early morning high $77.45 to a low $76.00.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through to $77 levels to support a run the first major resistance level at $80.97.
Support from the broader market would be needed, however, for Litecoin to breakout from the 38.2% FIB of $78.
Barring a broad-based crypto rally, the first major resistance level would likely limit any upside.
Failure to break back through to $77 levels could see Litecoin fall deeper into the red.
A fall back through to sub-$75.60 levels would bring the first major support level at $72.02 into play.
Barring another crypto sell-off, however, Litecoin should steer clear of sub-$70 levels on the day.
Looking at the Technical Indicators
Major Support Level: $72.02
Major Resistance Level: $80.97
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 4.42% on Tuesday. Reversing a 2.93% slide from Monday, Stellar’s Lumen ended the day at $0.076106.
A choppy start to the day saw Stellar’s Lumen rise to an early morning high $0.074383 before hitting reverse.
Falling short of the major resistance levels, Stellar’s Lumen fell to an early afternoon intraday low $0.070196.
Steering clear of the major support levels, Stellar’s Lumen rallied to a late intraday high $0.076564.
Stellar’s Lumen broke through the first major resistance level at $0.07599 before falling back to sub-$0.075 levels.
A bullish end to the day, however, saw Stellar’s Lumen break back through the first major resistance level to wrap up the day at $0.076 levels.
At the time of writing, Stellar’s Lumen was down by 1.17% to $0.075212. A bearish start to the day saw Stellar’s Lumen fall from the early morning high $0.075869 to a low $0.074612.