Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 03/02/20

Litecoin

Litecoin fell by 1.23% on Sunday. Partially reversing a 4.02% rally from Saturday, Litecoin ended the week up 24.48% to $69.82.

Tracking the broader market, Litecoin fell to an early morning intraday low $67.64 before striking a mid-day intraday high $73.33.

Litecoin fell through the first major support level at $67.85 before breaking through the first major resistance level at $73.22.

Through the 2^nd half of the day, Litecoin fell back through the first major resistance level to close out the day at sub-$70 levels.

At the time of writing, Litecoin was up by 1.78% to $71.06. A bullish start to the day saw Litecoin rise from an early morning low $69.23 to a high $72.91.

Steering clear of the major support levels, Litecoin came up against the first major resistance level at $72.89 early on.

For the day ahead

Litecoin would need to move back through to $72 levels to support another run at the first major resistance level at $72.89.

Support from the broader market would be needed, however, for Litecoin to break out from $72 levels.

Barring an extended crypto rally, the first major resistance level would likely pin Litecoin back from Sunday’s high $73.33

In the event of another crypto breakout, the second major resistance level at $75.95 would likely come into play.

Failure to break back through to $72 levels could see Litecoin give up the early gains.

A fall back through to sub-$70.30 levels would bring the first major support level at $67.20 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$67 and the second major support level at $64.57.

Looking at the Technical Indicators

Major Support Level: $67.20

Major Resistance Level: $72.89

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 3.59% on Sunday. Following on from a 1.63% gain on Saturday, Stellar’s Lumen ended the week up by 8.67% to $0.063679.

A mixed start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.061233 before making a move.

Steering clear of the first major support level at $0.06089, Stellar’s Lumen rallied to a late intraday high $0.066489.

Stellar’s Lumen broke through the day’s major resistance levels before a pullback to sub-$0.063 levels.

The pullback saw Stellar’s Lumen fall back through the major resistance levels to $0.06250 levels.

In spite of the late pullback, Stellar’s Lumen managed to recover to wrap up the day at $0.063 levels.

While breaking back through the first major resistance level at $0.06250, the second major resistance level at $0.06379 limited the upside at the day end.

At the time of writing, Stellar’s Lumen was up by 0.92% to $0.064262. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.063255 before striking a high $0.065844.

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 $0.065 levels to support a run at the first major resistance level at $0.06637.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.065844.

Barring an extended crypto rally, the first major resistance level at $0.06637 would likely leave Stellar’s Lumen short of Sunday’s high $0.066489.

Failure to move through to $0.065 could see Stellar’s Lumen fall back into the red.

A fall back through to sub-$0.06380 levels would bring the first major support level at $0.06111 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.060 levels.

Looking at the Technical Indicators

Major Support Level: $0.06111

Major Resistance Level: $0.06637

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 0.25% on Sunday. Following on from a 2.59% rally on Saturday, Tron’s TRX ended the week up by 13.03% to $0.019135.

Tracking the broader market, Tron’s TRX fell to an early intraday low $0.01860 before making a move.

Finding support at the first major support level at $0.01870, Tron’s TRX rallied to a mid-day intraday high $0.01990.

Tron’s TRX broke through the first major resistance level at $0.01933 and the second major resistance level at $0.01954.

Range-bound through the rest of the day, Tron’s TRX managed to return to $0.0198 levels before a late pullback.

The pullback saw Tron’s TRX fall back through the second major resistance level at $0.01954.

At the time of writing, Tron’s TRX was up by 0.78% to $0.019285. A mixed start to the day saw Tron’s TRX rise from an early morning low $0.018875 to a high $0.019707 before easing back.

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 the morning high $0.019707 to support a run at the first major resistance level at $0.01982.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.019707.

Barring a broad-based crypto rebound, the first major resistance at $0.01982 and Sunday’s high $0.01999 would likely limit any upside on the day.

Failure to move through the morning high $0.019707 levels could see Tron’s TRX struggle later in the day.

A fall back through to sub-$0.01920 levels would bring the first major support level at $0.01852 into play.

Barring a crypto meltdown, however, Tron’s TRX should steer well clear of sub-$0.018 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.01852

Major Resistance Level: $0.01982

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