Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 6th, 2020
Litecoin
Litecoin fell by 1.31% on Sunday. Reversing a 0.22% gain from Saturday, Litecoin ended the week up by 0.60% to $41.59.
A mixed start to the day saw Litecoin rise to an early morning intraday high $42.22 before hitting reverse.
Litecoin broke through the first major resistance level at $42.55 before hitting reverse.
The reversal saw Litecoin slide to a late intraday low $40.75.
Litecoin fell through the first major support level at $41.08 before recovering to $41.5 levels.
At the time of writing, Litecoin was up by 0.46% to $41.78. A mixed start to the day saw Litecoin fall to an early morning low $41.53 before rising to a high $41.82.
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 $41.5 pivot to support a run at the first major resistance level at $42.29.
Support from the broader market would be needed, however, for Litecoin to break back through to $42 levels.
Barring another crypto rally, the first major resistance level and Sunday’s high $42.22 would likely cap any upside.
Failure to avoid a fall through the $41.15 pivot would bring the first major support level at $40.82 into play.
Barring an extended crypto sell-off, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.05 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $40.82
Major Resistance Level: $42.29
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 0.95% on Sunday. Reversing a 0.61% gain from Saturday, Stellar’s Lumen ended the week up by 4.40% to $0.067170.
A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.067813 before taking a hit.
Coming up short of the first major resistance level at $0.06860, Stellar’s Lumen fell to a late intraday low $0.065227.
Stellar’s Lumen fell through the first major support level at $0.06684 and the second major support level at $0.06588.
Finding late support, Stellar’s Lumen move back through the major support levels to wrap up the week at $0.067 levels.
At the time of writing, Stellar’s Lumen was down by 0.12% to $0.067092. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.067239 to a low $0.067092.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to avoid a fall through the $0.06675 pivot to support a run at the first major resistance level at $0.06824.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Sunday’s high $0.067813.
Barring another broad-based crypto rally, the first major resistance level and Sunday’s high would likely limit any upside.
Failure to avoid a fall through the $0.06675 pivot could see Stellar’s Lumen struggle throughout the day.
A pullback through to sub-$0.066 levels would bring the first major support level at $0.06565 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06415.
Looking at the Technical Indicators
Major Support Level: $0.06565
Major Resistance Level: $0.06824
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 0.79% on Sunday. Following on from a 1.06% gain on Saturday, Tron’s TRX ended the week up by 7.56% to $0.016983.
Tracking the broader market, Tron’s TRX rose to an early morning high $0.016850 before hitting reverse.
Falling short of the first major resistance level at $0.01694, Tron’s TRX slid to a late morning intraday low $0.016355.
Tron’s TRX fell through the first major support level at $0.01661 and the second major support level at $0.01643.
A choppy 2nd half of the day saw Tron’s TRX fall back from $0.0166 levels to sub-$0.0164 levels before a late rebound. The rebound saw Tron’s TRX strike an intraday high $0.017001 before easing back.
Tron’s TRX broke through the first major resistance level at $0.01694 in the final hour.
At the time of writing, Tron’s TRX was up by 3.87% to $0.017639. A particularly bullish start to the day saw Tron’s TRX rally from an early morning low $0.016980 to a high $0.017649.
Tron’s TRX broke through the first major resistance level at $0.01720 and the second major resistance level at $0.01743 early on.
For the Day Ahead
Tron’s TRX would need to avoid a fall back through the second major resistance to support a run at the third major resistance level at $0.01807.
Support from the broader market would be needed, however, for Tron’s TRX to break through to $0.018 levels.
Barring an extended crypto rally, the third major resistance level would likely cap any upside.
Failure to avoid a fall through the second major resistance level would bring sub-$0.017 levels back into play.
Barring another extended crypto sell-off, Tron’s TRX should steer clear of the first major support level at $0.01656.
Looking at the Technical Indicators
Major Support Level: $0.01656
Major Resistance Level: $0.01720
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
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Thanks, Bob
This article was originally posted on FX Empire
