Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 24/03/20
Litecoin
Litecoin rallied by 10.38% on Monday. Reversing a 7.66% slide from Sunday, Litecoin ended the day at $39.12.
A mixed start to the day saw Litecoin fall to an early morning intraday low $34.51 before making a move.
Steering clear of the first major support level at $33.63, Litecoin rallied to an early afternoon intraday high $40.14.
Litecoin broke through the first major resistance level at $38.49 before falling back to $37 levels.
Finding support from the broader market, however, Litecoin broke back through the first major resistance level to wrap up the day at $39 levels.
At the time of writing, Litecoin was down by 1.05% to $38.71. A mixed start to the day saw Litecoin strike an early morning high $39.94 before falling to a low $38.39.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the morning high $39.94 to support another run the first major resistance level at $41.34.
Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $40.14.
Barring an extended crypto rally, resistance at $40 would likely leave Litecoin short of the first major resistance at $41.34.
Failure to move through the morning high $39.94 could see Litecoin fall deeper into the red.
A fall back through the morning low $38.39 to sub-$38 levels would bring the first major support level at $35.71 into play.
Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $32.29.
Looking at the Technical Indicators
Major Support Level: $35.71
Major Resistance Level: $41.34
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen rallied by 8.24% on Monday. Reversing a 7.94% slide from Sunday, Stellar’s Lumen ended the day at $0.039475
A choppy start saw Stellar’s Lumen fall to a late morning intraday low $0.036461 before making a move.
Steering clear of the first major support level at $0.03539, Stellar’s Lumen rallied to an early afternoon intraday high $0.039926.
Stellar’s Lumen broke through the first major resistance level at $0.03940 before falling back to $0.038 levels.
Finding late support, Stellar’s Lumen broke back through the first major resistance level to wrap up the day at $0.039475.
At the time of writing, Stellar’s Lumen was down by 0.24% to $0.039381. It was a mixed start to the day. Stellar’s Lumen rose to an early morning high $0.039950 before falling to a low $0.039381
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 the morning high $0.039950 to support a run at the first major resistance level to $0.040790.
Support from the broader market would be needed, however, for Stellar’s Lumen to break through to $0.040 levels.
Barring an extended crypto rally, resistance at $0.040 would leave Stellar’s Lumen short of the first major resistance level.
Failure to move through the morning high $0.039950 could see Stellar’s Lumen hit reverse
A fall back through the morning low to sub-$0.03860 levels would bring the first major support level at $0.03729 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.038 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 rallied by 10.63% on Monday. Reversing an 8.39% slide from Sunday, Tron’s TRX ended the day at $0.011368.
A mixed start saw Tron’s TRX fall to an early morning intraday low $0.01009 before making a move.
Steering clear of the first major support level at $0.00978, Tron’s TRX rallied to an early afternoon intraday high $0.011552.
Tron’s TRX broke through the first major resistance level at $0.01119 before sliding back to sub-$0.011 levels.
Finding support from the broader market, however, Tron’s TRX broke back through the first major resistance level to wrap up the day at $0.0113 levels.
At the time of writing, Tron’s TRX was down by 0.01% to $0.011367. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.011354 before striking a high $0.011549.
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 the morning high $0.011549 to support a run at the first major resistance level at $0.01192.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.011552.
Barring an extended crypto rally, the first major resistance at $0.01192 would likely cap any upside.
Failure to move through the morning high $0.011549 could see Tron’s TRX struggle later in the day.
A fall through to sub-$0.011 levels would bring the first major support level at $0.01045 into play.
Barring another crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.010 support levels.
Looking at the Technical Indicators
Major Support Level: $0.01045
Major Resistance Level: $0.01192
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
