After an early dip, it's back into the green for the pack. Holding onto early gains through the morning would bring resistance levels into play.
Litecoin rallied by 6.97% on Wednesday. Reversing a 2.51% slide from Tuesday, Litecoin ended the day at $72.56.
A bearish start to the day saw Litecoin fall to an early morning intraday low $67.43 before making a move.
Steering clear of the first major support level at $66.08, Litecoin rallied to a late afternoon intraday high $73.46.
Litecoin broke through the first major resistance level at $70.03 and the second major resistance level at $72.22.
A brief pullback late in the day saw Litecoin fall back through the second major resistance level before wrapping up the day at $72.5 levels.
At the time of writing, Litecoin was up by 1.17% to $73.41. A mixed start to the day saw Litecoin fall to an early morning low $70.92 before striking a high $74.00.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to move back through the morning high $74.00 to support another run at the first major resistance level at $74.87.
Support from the broader market would be needed, however, for Litecoin to break out from $73.50 levels.
Barring an extended crypto rally, first major resistance level and morning high $74.00 would likely limit any upside.
In the event of another crypto breakout, the second major resistance level at $77.18 and 38.2% FIB of $78 would likely come into play.
Failure to break back through to $74 levels could see Litecoin hit reverse.
A fall back through to sub-$71.15 levels would bring the first major support level at $68.84 into play.
Barring a crypto meltdown, however, Litecoin should steer clear of sub-$70 levels on the day.
Major Support Level: $68.84
Major Resistance Level: $74.87
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen rose by 3.32% on Wednesday. Following on from a 3.99% rally on Tuesday, Stellar’s Lumen ended the day at $0.068841.
A relatively choppy start to the day saw Stellar’s Lumen rise from an early morning intraday low $0.066463 to a mid-morning high $0.069174.
Falling short of the first major resistance level at $0.06940, Stellar’s Lumen fell back to 0.06710 levels before making a move.
Stellar’s Lumen rallied to a late intraday high $0.069606 before easing back to sub-$0.069 levels.
The first major resistance level at $0.06940 capped the upside on the day.
At the time of writing, Stellar’s Lumen was up by 1.54% to $0.069900. A mixed start to the day saw Stellar’s Lumen fall to an early morning high $0.0677025 before rising to a high $0.069900.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to steer clear of sub-$0.069 levels to support a run at the first major resistance level at $0.07014.
Support from the broader market would be needed, however, for Stellar’s Lumen to break through to $0.070 levels.
Barring an extended crypto rally, the resistance at $0.070 would likely leave Stellar’s Lumen short of the first major resistance level.
Failure to steer clear of sub-$0.069 levels could see Stellar’s Lumen hit reverse.
A fall back through to sub-$0.06830 levels would bring the first major support level at $0.06700 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.066 and the second major support level at $0.06516.
Major Support Level: $0.06700
Major Resistance Level: $0.07014
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX rallied by 7.61% on Wednesday. Reversing a 0.60% fall from Tuesday, Tron’s TRX ended the day at $0.02079.
A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.01927 before finding support.
Steering clear of the first major support level at $0.01863, Tron’s TRX rallied to a late intraday high $0.020806.
Tron’s TRX broke through the first major resistance level at $0.01968 and the second major resistance level at $0.02010.
In spite of easing back to $0.02070 levels, Tron’s TRX held above the second major resistance level to wrap up the day at $0.02 levels for the first time since mid-November.
At the time of writing, Tron’s TRX was up by 0.25% to $0.020841. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.020414 before striking a high $0.020984.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to move back through the morning high $0.020984 to support a run at the first major resistance level at $0.02131.
Support from the broader market would be needed, however, for Tron’s TRX to break through to $0.021 levels.
Barring an extended crypto rally, the first major resistance at $0.02131 would likely limit any upside on the day.
Failure to move through the morning high could see Tron’s TRX struggle later in the day.
A fall back through the morning low $0.020414 to sub-$0.02030 levels would bring the first major support level at $0.01977 into play.
Barring a crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.019 levels and the second major support level at $0.01875.
Major Support Level: $0.01977
Major Resistance Level: $0.02131
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.