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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 13/01/20

Bob Mason

Litecoin

Litecoin rallied by 4.15% on Sunday. Following on from a 0.71% gain from Saturday, Litecoin ended the week up by 18.81% to $51.42.

A bullish start to the day saw Litecoin rally from an early morning intraday low $48.82 to an early morning intraday high $51.7.

Steering clear of the major support levels, Litecoin came up against the first major resistance level at $51.69.

Litecoin fell back to sub-$50 levels before finding support through the afternoon. A late rally saw Litecoin break back through to $50 levels to deliver the upside on the day.

At the time of writing, Litecoin down up by 1.44% to $50.68. A bearish start to the day saw Litecoin fall from an early morning high $51.63 to a low $50.40.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move through to $51 levels to support a run at the first major resistance level at $52.47.

Support from the broader market would be needed for Litecoin to break out from the morning high $51.63

Barring an extended crypto rally, however, Litecoin would likely come up short of Saturday’s high $52.03.

Failure to move back through to $51 levels could see Litecoin struggle throughout the day.

A fall back through the morning low $50.40 would bring the first major support level at $49.59 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$49 levels and the second major support level at $47.77.

Looking at the Technical Indicators

Major Support Level: $52.47

Major Resistance Level: $49.59

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 1.45% on Sunday. Following on from a 1.56% gain from Saturday, Stellar’s Lumen end the week up by 7.48% to $0.048819.

A bullish start to the day saw Stellar’s Lumen rally from an early morning intraday low $0.04805 to a late afternoon intraday high $0.049183.

Stellar’s Lumen left the major support and resistance levels untested in spite of the moves.

Late in the day, Stellar’s Lumen fell back to $0.0484 levels before finding support in the final hour.

At the time of writing, Stellar’s Lumen was down by 0.77% to $0.04844. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.04898 to a low $0.048416.

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 $0.04870 levels to support a run at the first major resistance level at $0.04932.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.04898.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside on the day.

Failure to move back through to $0.04870 levels could see Stellar’s Lumen also struggle throughout the day.

A fall through the morning low $0.048416 would bring the first major support level at $0.048190 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer well clear of sub-$0.04800 levels.

Looking at the Technical Indicators

Major Support Level: $0.04819

Major Resistance Level: $0.04932

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 2.24% on Sunday. Reversing a 0.11% loss from Saturday, Tron’s TRX ended the week up 9.92% to $0.014865.

Recovering from an early morning intraday low $0.014455, Tron’s TRX rallied to a late afternoon intraday high $0.015043.

Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.014890.

Tracking the broader market late on, Tron’s TRX fell back to $0.0147 levels before moving back through to $0.0148 levels.

The first major resistance level capped the upside on the day.

At the time of writing, Tron’s TRX was down by 0.48% to $0.014793. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.015015 to a low $0.014793.

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 $0.01512.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.015015.

Barring an extended crypto rally, the first major resistance level would likely pin Tron’s TRX back on the day.

Failure to move back through to $0.015 levels could see Tron’s TRX slide deeper into the red.

A fall through to sub-$0.01470 levels would bring the first major support level at $0.01453 into play.

Barring a crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.014 levels on the day.

The second major support level at $0.01420 should limit any downside in the event of an extended sell-off.

Looking at the Technical Indicators

Major Support Level: $0.01453

Major Resistance Level: $0.01512

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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