Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 18/03/20
Litecoin
Litecoin rose by 2.4% on Tuesday. Partially reversing an 8% slide from Monday, Litecoin ended the day at $34.17.
A bullish start to the day saw Litecoin rise from an early morning intraday low $32.58 to a mid-morning intraday high $36.05.
Falling short of the first major resistance level at $36.68, Litecoin fell back to an early afternoon low $33.12.
Finding support from the broader, market, Litecoin recovered to $35 levels before a final hour pullback.
At the time of writing, Litecoin was up by 1.29% to $34.61. A mixed start to the day saw Litecoin fall to an early morning low $34.02 before striking a high $34.81.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through to $35 levels to support a run the first major resistance level at $35.95.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $34.81.
Barring an extended crypto rally, the first major resistance at $35.95 would likely limit any upside on the day.
Failure to move through to $35 levels could see Litecoin hit reverse.
A fall back through to sub-$34.30 levels would bring the first major support level at $32.48 into play.
Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$30 levels.
The second major support level at $32.48 would likely limit any downside.
Looking at the Technical Indicators
Major Support Level: $32.48
Major Resistance Level: $35.95
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 4.43% on Tuesday. Partially reversing a 5.82% fall from Monday, Stellar’s Lumen ended the day at $0.037198.
A bullish start to the day saw Stellar’s Lumen rise from an early morning intraday low $0.035431 to an early morning intraday high $0.038231.
Falling short of the first major resistance level at $0.03851, Stellar’s Lumen fell back to an afternoon low $0.035754.
Finding support from the broader market, Stellar’s Lumen recovered to $0.038 levels before a final hour pullback.
At the time of writing, Stellar’s Lumen was up by 1.68% to $0.037823. A mixed start to the day saw Stellar’s Lumen fall to a morning low $0.037354 before striking a high $0.037864.
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 $0.038 levels to support a run at the first major resistance level to $0.03848.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.038231.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to move through to $0.038 levels could see Stellar’s Lumen give up the morning gains.
A fall back through the morning low to sub-$0.037 levels would bring the first major support level at $0.03568 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.035 levels.
Looking at the Technical Indicators
Major Support Level: $0.03568
Major Resistance Level: $0.03848
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 4.43% on Tuesday. Partially reversing a 6.07% slide from Monday, Tron’s TRX ended the day at $0.010082.
A bullish start to the day saw Tron’s TRX rally from an early morning intraday low $0.009566 to a mid-morning intraday high $0.010425.
Falling short of the first major resistance level at $0.01050, Tron’s TRX fell back to sub-$0.010 levels before finding support.
Tron’s TRX recovered to $0.01030 levels before a final hour pullback. In spite of the pullback, Tron’s TRX managed to hold onto $0.010 levels.
At the time of writing, Tron’s TRX was up by 1.63% to $0.010246. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.010022 before striking a high $0.010246.
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 $0.01020 levels to support a run at the first major resistance level at $0.01048.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.010246.
Barring an extended crypto rally, the first major resistance at $0.01048 would likely cap any upside.
Failure to move through to $0.01020 levels could see Tron’s TRX struggle later in the day.
A fall through the morning low to sub-$0.010 levels would bring the first major support level at $0.00962 into play.
Barring another crypto meltdown, however, Tron’s TRX should steer clear of the second major support level at $0.00917.
Looking at the Technical Indicators
Major Support Level: $0.00962
Major Resistance Level: $0.01048
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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