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

Litecoin

Litecoin rallied by 6.64% on Monday. Reversing a 0.76% fall from Sunday, Litecoin ended the day at $61.47.

A bullish day saw Litecoin rally from an early morning intraday low $57.24 to a late afternoon intraday high $62.38.

Litecoin broke through the first major resistance level at $59.92 and the second major resistance level at $62.20.

Of greater significance, however, was a move through the 23.6% FIB of $62.

A bearish end to the day saw Litecoin fall back through the second major resistance level and 23.6% FIB.

At the time of writing, Litecoin was down by 0.65% to $61.07. A bearish start to the day saw Litecoin fall from an early morning high $61.56 to a low $60.11.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move through the morning high to $62 levels to support a run the first major resistance level at $63.49.

Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $62.

Barring an extended crypto rally, Litecoin would likely fall short of $63 levels on the day.

Failure to move through to $62 levels could see Litecoin fall deeper into the red.

A fall back through to sub-$60.40 levels would bring the first major support level at $58.35 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $55.22.

Looking at the Technical Indicators

Major Support Level: $58.35

Major Resistance Level: $63.49

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 5.47% on Monday. Reversing a 1.50% fall from Sunday, Stellar’s Lumen ended the day at $0.059549.

A bullish day saw Stellar’s Lumen rise from an early morning intraday low $0.05644 to a late intraday high $0.060332.

Stellar’s Lumen broke through the first major resistance level at $0.05844 before easing back to sub-$0.060 levels.

The second major resistance level at $0.06050 capped the upside on the day.

At the time of writing, Stellar’s Lumen was down by 0.19% to $0.059438. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.059438 to a low $0.058895.

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 $0.060 levels to support a run at the first major support level to $0.06111.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.060332.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside on the day.

Failure to move through to $0.060 levels could see Stellar’s Lumen struggle later in the day.

A fall back through to sub-$0.05880 levels would bring the first major support level at $0.05722 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.055 levels.

Looking at the Technical Indicators

Major Support Level: $0.05722

Major Resistance Level: $0.06111

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 6.03% on Monday. Reversing a 0.64% fall from Sunday, Tron’s TRX ended the day at $0.017610.

It was a mixed start to the day for Tron’s TRX, which fell to an early morning intraday low $0.016457 before making a move.

Steering clear of the first major support level at $0.01598, Tron’s TRX rallied to a late afternoon intraday high $0.017884.

Tron’s TRX broke through the first major resistance level at $0.01725.

In spite of a late pullback, Tron’s TRX held above the first major resistance level until the day end.

At the time of writing, Tron’s TRX was down by 0.85% to $0.01746. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.017652 to a low $0.017200.

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 to support a run at the first major resistance level at $0.01818.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.017884.

Barring an extended crypto rebound, resistance at $0.018 would likely leave Tron’s TRX short of the first major resistance level.

Failure to move through the morning high $0.017652 could see Tron’s TRX slide deeper into the red.

A fall back through to sub-$0.01730 levels would bring the first major support level at $0.01675 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.01589.

Looking at the Technical Indicators

Major Support Level: $0.01675

Major Resistance Level: $0.01818

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