Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 26/03/20
In This Article:
Litecoin
Litecoin fell by 3.59% on Wednesday. Reversing a 4.07% gain from Tuesday, Litecoin ended the day at $39.25.
A mixed start to the day saw Litecoin rally to a late morning intraday high $41.21 before hitting reverse.
Falling short of the first major resistance level at $41.70, Litecoin slid to a late morning intraday low $38.24.
Litecoin fell through the first major support level at $39.04 before recovering to an afternoon high $40.00.
A return to $40 was short-lived, however, with Litecoin sliding back to sub-$39 levels before finding late support.
At the time of writing, Litecoin was up by 1.17% to $39.71. A mixed start to the day saw Litecoin rise to an early morning high $40.06 before falling to a low $39.23.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through to $40 levels to support another run the first major resistance level at $41.70.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $40.74.
Barring a broad-based crypto rebound, resistance at $41 would likely leave Litecoin short of the first major resistance at $41.70.
Failure to move through the morning high $40 levels could see Litecoin fall into the red.
A fall back through the morning low $39.23 would bring the first major support level at $39.04 into play.
Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $37.39.
Looking at the Technical Indicators
Major Support Level: $37.92
Major Resistance Level: $40.89
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen rose by 0.47% on Wednesday. Following on from a 1.71% gain on Tuesday, Stellar’s Lumen ended the day at $0.040278.
A mixed start saw Stellar’s Lumen slide to an early morning intraday low $0.039300 before finding support.
Stellar’s Lumen fell through the first major support level at $0.03952 before striking a late morning intraday high $0.040952.
Coming within range of the first major resistance level at $0.040970, Stellar’s Lumen fell back to sub-$0.040 levels.
Finding support through the afternoon, Stellar’s Lumen recovered to $0.040 levels to end the day in the green.
At the time of writing, Stellar’s Lumen was up by 0.41% to $0.040445. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.040735 before falling to a low $0.040445.
Stellar’s Lumen left the major support and resistance levels untested early on.