Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 17/02/20
Litecoin
Litecoin fell by 2.68% on Sunday. Following on from a 7.92% slide on Saturday, Litecoin ended the week down by 3.10% to $74.70.
A bullish start to the day saw Litecoin rally to an early morning intraday high $80.80 before hitting reverse.
Litecoin broke through the 38.2% FIB of $78.00 before sliding to a late afternoon intraday low $67.28.
The sell-off saw Litecoin fall through the first major support level at $73.15 and second major support level at $69.55. Litecoin also fell back through the 38.2% FIB of $78.00.
Finding support late in the day, Litecoin broke back through the support levels to limit the loss on the day.
At the time of writing, Litecoin was down by 5.72% to $70.43. A bearish start to the day saw Litecoin slide from an early morning high $75.47 to a low $70.10.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move back through to $74.30 levels to support a run the first major resistance level at $81.24.
Support from the broader market would be needed, however, for Litecoin to breakout from the morning high $75.47 to $80 levels.
Barring a broad-based crypto rebound, resistance at $80 would likely leave Litecoin short of the first major resistance level at $81.24.
Failure to break back through to $74.30 could see Litecoin struggle throughout the day.
A fall back through the morning low $70.10 would bring the first major support level at $67.72 into play.
Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$67 levels on the day.
Looking at the Technical Indicators
Major Support Level: $67.72
Major Resistance Level: $81.24
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 3.19% on Sunday. Following on from a 9.50% tumble on Saturday, Stellar’s Lumen ended the week up by 2.79% to $0.075000.
A bullish start to the day saw Stellar’s Lumen rise to an early morning high $0.0811010 before hitting reverse.
Falling short of the first major resistance level at $0.086250, Stellar’s Lumen tumbled to a late afternoon intraday low $0.067408.
Stellar’s Lumen fell through the first major support level at $0.07382 and the second major support level at $0.06892.
Finding late support, Stellar’s Lumen broke back through the major support levels to wrap up the day at $0.075.
At the time of writing, Stellar’s Lumen was down by 7.35% to $0.05511. A bearish start to the day saw Stellar’s Lumen tumble from an early morning high $0.075295 to a low $0.069250.
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 $0.07450 levels to support a run at the first major resistance level at $0.08160.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.075295.
Barring a broad-based crypto rebound, the resistance at $0.080 would likely limit any upside on the day.
Failure to move through to $0.07450 levels could see Stellar’s Lumen spend the day in the red.
A fall back through the morning low $0.068262 would bring the first major support level at $0.06791 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.068 levels on the day.
Looking at the Technical Indicators
Major Support Level: $0.06791
Major Resistance Level: $0.08160
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 slid by 5.40% on Sunday. Following on from a 10.56% tumble on Saturday, Tron’s TRX ended the week up by 1.13% to $0.022318.
A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.024670 before hitting reverse.
Falling short of the first major resistance level at $0.02581, Tron’s TRX slumped to a late afternoon intraday low $0.020258.
Tron’s TRX fell through the first major support level at $0.02211 and the second major support level at $0.02061.
Finding support late in the day, Tron’s TRX broke back through the major support levels to limit the loss on the day.
At the time of writing, Tron’s TRX was down by 7.27% to $0.020696. A bearish start to the day saw Tron’s TRX slide from an early morning high $0.022487 to a low $0.020388.
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 $0.02240 levels to support a run at the first major resistance level at $0.02457.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.023 levels.
Barring a broad-based crypto rebound, resistance at $0.023 would likely leave Tron’s TRX short of the first major resistance at $0.02457.
Failure to move back through to $0.02240 levels could see Tron’s TRX struggle throughout the day.
A fall back through the morning low $0.020388 would bring the first major support level at $0.02016 into play.
Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.020 levels.
Looking at the Technical Indicators
Major Support Level: $0.02016
Major Resistance Level: $0.02457
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
