Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 01/04/20

Litecoin

Litecoin rose by 0.41% on Tuesday. Following on from a 5.09% rally on Monday, Litecoin ended the day at $39.15.

A bearish month saw Litecoin slide by 32.58%. The sell-off reversed gains from early in the year to end the quarter down by 4.72%.

A mixed start to the day saw Litecoin rise to an early morning intraday high $39.41 before hitting reverse.

Falling short of the first major resistance level at $40.15, Litecoin slid to an early morning intraday low $38.38.

Steering clear of the first major support level at $37.46, Litecoin recovered to $39 levels late in the day.

At the time of writing, Litecoin was down by 0.77% to $38.85. A bearish start to the day saw Litecoin slide from an early morning high $39.25 to a low $38.45.

Falling short of the major resistance levels, Litecoin tested the first major support level at $38.55 early on.

For the day ahead

Litecoin would need to move back through to $39 levels to support another run the first major resistance level at $39.58.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $39.25.

Barring a broad-based crypto rebound, the first major resistance would likely pin Litecoin back from $40 levels.

Failure to move back through to $39 levels could see Litecoin fall deeper into the red.

A fall back through the first major support level at $38.55 would bring the second major support level at $37.95 into play.

Barring a crypto sell-off, however, Litecoin should steer clear of sub-$37 support levels.

Looking at the Technical Indicators

Major Support Level: $38.55

Major Resistance Level: $39.58

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 1.90% on Tuesday. Following on from a 6.03% rally on Monday, Stellar’s Lumen ended the day at $0.040911.

A bearish month saw Stellar’s Lumen slide by 28.53%. The sell-off reversed gains from early in the year to end the quarter down by 9.36%.

Choppy through the morning, Stellar’s Lumen fell to a late morning intraday low $0.039987 before finding support.

Steering clear of the first major support level at $0.03828, Stellar’s Lumen rallied to a late intraday high $0.041330.

Falling short of the first major resistance level at $0.04151, Stellar’s Lumen eased back to sub-$0.041 levels.

At the time of writing, Stellar’s Lumen was down by 1.97% to $0.040104. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.040504 to a low $0.039955.

Falling short of the major resistance levels, Stellar’s Lumen fell through the first major support level at $0.04016.

For the day ahead

Stellar’s Lumen would need to move back through to $0.04070 levels to support a run at the first major resistance level at $0.04150.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.041331.

Barring a broad-based crypto rebound, resistance at $0.041 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move back through to $0.04070 levels could see Stellar’s Lumen struggle throughout the day.

A fall back through to sub-$0.040 levels would bring the second major support level at $0.03940 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: $0.04016

Major Resistance Level: $0.04150

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 1.08% on Tuesday. Following on from a 7.55% rally on Monday, Tron’s TRX ended the day at $0.011643.

A mixed start to the day saw Tron’s TRX rise to an early morning high $0.011669 before hitting reverse.

Falling short of the first major resistance level at $0.01202, Tron’s TRX fell to a mid-morning intraday low $0.011414.

Steering clear of the first major support level at $0.01083, Tron’s TRX rallied to a late intraday high $0.011738.

Tron’s TRX fell short of the first major resistance level at $0.01202 before easing back to sub-0.0117 levels.

At the time of writing, Tron’s TRX was down by 0.76% to $0.011554. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.011490 before striking a high $0.011602.

Steering clear of the major resistance levels, Tron’s TRX tested the first major support level at $0.01148 early on.

For the Day Ahead

Tron’s TRX would need to move back through to $0.01163 levels to bring the first major resistance level at $0.01179 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.011771.

Barring a broad-based crypto rebound, the first major resistance at $0.01179 would likely cap any upside.

Failure to move back through to $0.01163 levels could see Tron’s TRX fall deeper into the red.

A fall through the first major support level at $0.01148 would bring the second major support level at $0.01132 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the third major support level at $0.01101.

Looking at the Technical Indicators

Major Support Level: $0.01148

Major Resistance Level: $0.01179

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