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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 25/03/20

Bob Mason

Litecoin

Litecoin rose by 4.07% on Tuesday. Following on from a 10.38% rally on Monday, Litecoin ended the day at $40.70.

A mixed start to the day saw Litecoin fall to an early morning intraday low $38.39 before making a move.

Steering clear of the first major support level at $35.71, Litecoin struck a morning high $40.89 before falling back to $39 levels.

Finding support from the broader market, however, Litecoin rallied to a final hour intraday high $41.05.

Litecoin came within range of the first major resistance level at $41.34 before easing back.

At the time of writing, Litecoin was down by 2.46% to $39.70. A bearish start to the day saw Litecoin fall from an early morning high $40.74 to a low $39.60.

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

For the day ahead

Litecoin would need to move 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 deeper into the red.

A fall back through the morning low $39.60 would bring the first major support level at $39.04 into play.

Barring another extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $37.39.

Looking at the Technical Indicators

Major Support Level: $39.04

Major Resistance Level: $41.70

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 1.71% on Tuesday. Following on from an 8.24% rally on Monday, Stellar’s Lumen ended the day at $0.040389.

A mixed start saw Stellar’s Lumen rise from an early morning low $0.039372 to late morning high $0.040574.

Falling short of the first major resistance level at $0.04070, Stellar’s Lumen fell back to a late afternoon intraday low $0.039243.

Steering clear of the first major support level at $0.03729, Stellar’s Lumen rallied to a late intraday high $0.040692.

Falling short of the first major resistance level at $0.04079, Stellar’s Lumen eased back to limit the upside on the day.

At the time of writing, Stellar’s Lumen was down by 0.74% to $0.040091. It was a bearish start to the day. Stellar’s Lumen fell from an early morning high $0.040095 to a low $0.040088.

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 $0.04015 levels to support a run at the first major resistance level to $0.04097.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.040692.

Barring a broad-based crypto rally, resistance at $0.04050 would leave Stellar’s Lumen short of the first major resistance level.

Failure to move through to $0.04015 levels could see Stellar’s Lumen fall deeper into the red.

A fall back through the morning low $0.040088 would bring the first major support level at $0.03952 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.039 support levels.

Looking at the Technical Indicators

Major Support Level: $0.03729

Major Resistance Level: $0.04079

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 0.86% on Tuesday. Following on from a 10.63% rally on Monday, Tron’s TRX ended the day at $0.011559.

A mixed start saw Tron’s TRX rise from an early morning low $0.011300 to a late morning intraday high $0.011724.

Falling short of the first major resistance level at $0.01192, Tron’s TRX fell to a late afternoon intraday low $0.011161.

Steering clear of the first major support level at $0.01045, Tron’s TRX bounced back to wrap up the day at $0.0115 levels.

At the time of writing, Tron’s TRX was down by 1.87% to $0.011343. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.011441 to a low $0.011343.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to move through to $0.01150 levels to support a run at the first major resistance level at $0.01180.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.011724.

Barring a broad-based crypto rebound, the first major resistance at $0.01180 would likely cap any upside.

Failure to move through to $0.01150 levels could see Tron’s TRX struggle throughout the day.

A fall through to sub-$0.01130 levels would bring the first major support level at $0.01124 into play.

Barring another crypto meltdown, however, Tron’s TRX should steer clear of the second major support level at $0.01092.

Looking at the Technical Indicators

Major Support Level: $0.01124

Major Resistance Level: $0.01180

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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