Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 04/02/20
Litecoin
Litecoin fell by 0.40% on Monday. Following on from a 1.23% decline on Sunday, Litecoin ended the day at $69.55.
Tracking the broader market, Litecoin rallied to an early morning intraday high $72.91 before hitting reverse.
Coming up against the first major resistance level at $72.89, Litecoin slid to a late afternoon intraday low $68.20.
Steering clear of the first major support level at $67.20, Litecoin struck $70 levels late in the day before easing back into the red.
At the time of writing, Litecoin was up by 0.29% to $69.75. A mixed start to the day saw Litecoin rise to an early morning high $70.46 before falling to a low $69.46.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through to $70.25 levels to support another run at the first major resistance level at $72.24.
Support from the broader market would be needed, however, for Litecoin to break back through to $72 levels.
Barring an extended crypto rally, first major resistance level and Monday’s high $72.91 would likely limit any upside.
In the event of another crypto breakout, the second major resistance level at $74.93 would likely come into play.
Failure to break back through to $70.25 levels could see Litecoin hit reverse.
A fall back through the morning low $69.46 would bring the first major support level at $67.53 into play.
Barring a crypto meltdown, however, Litecoin should steer clear of sub-$67 and the second major support level at $65.51.
Looking at the Technical Indicators
Major Support Level: $67.53
Major Resistance Level: $72.24
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 1.61% on Monday. Following on from a 3.59% rally on Sunday, Stellar’s Lumen ended the day at $0.06428.
A bullish start to the day saw Stellar’s Lumen strike an early morning intraday high $0.065844 before hitting reverse.
Falling short of the first major resistance level at $0.06637, Stellar’s Lumen slid to a late afternoon intraday low $0.06270.
Steering clear of the first major support level at $0.06111, Stellar’s Lumen recovered to $0.064 levels.
At the time of writing, Stellar’s Lumen was down by 0.71% to $0.063823. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.063892 to a low $0.063823.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to move through to $0.06430 levels to support a run at the first major resistance level at $0.06585.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the Monday’s high $0.065844.
Barring an extended crypto rally, the first major resistance level at $0.06585 and Monday high would likely limit any upside.
Failure to move through to $0.06430 levels could see Stellar’s Lumen fall deeper into the red.
A fall back through to sub-$0.06350 levels would bring the first major support level at $0.06271 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.062 levels.
Looking at the Technical Indicators
Major Support Level: $0.06271
Major Resistance Level: $0.06585
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 rose by 1.05% on Monday. Following on from a 0.25% gain on Sunday, Tron’s TRX ended the day at $0.019284.
A choppy start to the day saw Tron’s TRX fall to an early morning intraday low $0.018875 before striking an early intraday high $0.019707.
Steering clear of the major support and resistance levels, Tron’s TRX slid back to sub-$0.019 levels late in the day before finding support.
A late move back through to $0.019 levels delivered the upside on the day.
At the time of writing, Tron’s TRX was down by 0.31% to $0.019224. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.019400 before falling to a low $0.019210.
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 $0.01929 levels to support a run at the first major resistance level at $0.01970.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.01940.
Barring a broad-based crypto rebound, the first major resistance at $0.01970 and Monday’s high $0.019707 would likely limit any upside on the day.
Failure to move through to $0.019290 levels could see Tron’s TRX struggle later in the day.
A fall back through the morning low $0.019210 would bring the first major support level at $0.018870 into play.
Barring a crypto meltdown, however, Tron’s TRX should steer clear of the second major support level at $0.018460.
Looking at the Technical Indicators
Major Support Level: $0.01887
Major Resistance Level: $0.01970
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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