Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 14/05/20
Litecoin
Litecoin rose by 2.41% on Wednesday. Following on from a by 1.83% gain on Tuesday, Litecoin ended the day at $43.26.
Bullish throughout the day, Litecoin rallied from an early morning intraday low $41.99 to a late intraday high $43.82.
Steering clear of the major support levels, Litecoin broke through the first major resistance level at $42.98.
In spite of a late pullback, Litecoin avoided a return to sub-$43 levels to deliver the upside on the day.
At the time of writing, Litecoin was down by 0.60% to $43.00. A mixed start to the day saw Litecoin rise to an early morning high $43.41 before falling to a low $42.86.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through to $43.10 levels to support a run the first major resistance level at $44.06.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $43.82.
Barring an extended crypto rally, the first major resistance level, and Wednesday’s high would likely limit any upside.
Failure to move through to $43.10 levels could see Litecoin struggle later in the day.
A fall back through the morning low $42.86 would bring the first major support level at $42.23 into play.
Barring an extended crypto sell-off, however, Litecoin should steer clear the second major support level at $41.19.
Looking at the Technical Indicators
Major Support Level: $42.23
Major Resistance Level: $44.06
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen fell by 0.71% on Wednesday. Following a 12.16% rally on Tuesday, Stellar’s Lumen ended the day at $0.069707.
A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.070639 before visiting the red.
Falling short of the major resistance levels, Stellar’s Lumen fell to a mid-morning intraday low $0.068157.
Steering clear of the first major support level at $0.06482, Stellar’s Lumen rallied to a late intraday high $0.070736.
Falling well short of the first major resistance level at $0.07274, Stellar’s Lumen slid back to sub-$0.070 and into the red.
At the time of writing, Stellar’s Lumen was down by 0.39% to $0.069437. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.070037 before falling to a low $0.069437.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to move back through to $0.06955 levels to bring the first major resistance level at $0.07091 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s high $0.070736.
Barring an extended crypto rebound, the first major resistance level would likely limit any upside.
Failure to move through to $0.06955 levels could see Stellar’s Lumen fall deeper into the red.
A fall through to sub-$0.06900 levels would bring the first major support level at $0.06833 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06695.
Looking at the Technical Indicators
Major Support Level: $0.06833
Major Resistance Level: $0.07091
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX
Tron’s TRX rallied by 3.41% on Wednesday. Following on from a 3.23% gain on Tuesday, Tron’s TRX ended the day at $0.015091.
A choppy start to the day saw Tron’s TRX rally from an intraday low $0.014593 to an early morning intraday high $0.015319.
Tron’s TRX broke through the first major resistance level at $0.01501 and second major resistance level at $0.01547 before pulling back.
The pullback saw Tron’s TRX return to sub-$0.015 levels before revisiting $0.01520 levels late in the day.
While breaking back through the first major resistance level, Tron’s TRX failed to retest the second major resistance level.
A late pullback limited the upside on the day, though Tron’s TRX managed to wrap up the day at $0.015 levels.
At the time of writing, Tron’s TRX was down by 0.85% to $0.014963. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.015098 before falling to a low $0.014946.
Tron’s TRX left the major support and resistance levels untested early on.
For the Day Ahead
Tron’s TRX would need to move back through to $0.015 levels to support a run at the first major resistance level at $0.01541.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the Wednesday’s high $0.015319.
Barring an extended crypto rebound, the first major resistance level, and Wednesday’s high would likely limit any upside.
Failure to move through to move back through to $0.015 levels could see Tron’s TRX slide deeper into the red.
A fall through the morning low to sub-$0.014900 levels would bring the first major support level at $0.01468 into play.
Barring another crypto meltdown, however, Tron’s TRX should steer clear of the second major support level at $0.01428.
Looking at the Technical Indicators
Major Support Level: $0.01468
Major Resistance Level: $0.01541
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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