It's a mixed start to the day. Failure to move back through early highs will test the majors later in the day...
Litecoin rallied by 5.80% on Monday. Following on from a 1.36% gain on Sunday, Litecoin ended the day at $45.79.
A bullish start to the day saw Litecoin rally from an early morning intraday low $43.12 to late morning high $45.25.
Steering clear of the major support levels, Litecoin broke through the first major resistance level at $44.33.
Coming against the second major resistance level at $45.37, Litecoin fell back to sub-$44 levels before striking a late intraday high $46.18.
Litecoin broke through the first major resistance level and the second major resistance level at $45.37.
While unable to hold onto $46 levels, Litecoin avoided a pullback through the second major resistance level late on.
At the time of writing, Litecoin was up by 0.02% to $45.80. A bullish start to the day saw Litecoin raise from an early morning low $45.25 to a high $46.21.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to move back through to $46 levels to support a run at the first major resistance level at $46.94.
Litecoin would need the support of the broader market to break out from the morning high $46.21 and Monday’s high $46.18.
Barring a crypto rebound, however, the first major resistance level and Sunday’s high $44.51 would likely cap any upside.
Failure to move back through $46 levels could see Litecoin fall back into the red.
A fall back through the morning low to sub-$45 levels would bring the first major support level at $43.88 into play.
Barring an extended sell-off, however, Litecoin should steer clear of sub-$42 levels. The second major support level at $41.97 should limit any downside.
Major Support Level: $43.88
Major Resistance Level: $46.94
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen surged by 10.88% on Monday. Following a 0.31% loss on Sunday, Stellar’s Lumen ended the day at $0.050363.
Bullish through the day, Stellar’s Lumen rallied from an early morning intraday low $0.045378 to a late intraday high $0.050363.
Steering clear of the major support levels, Stellar’s Lumen broke through the major resistance levels. Holding onto $0.050 levels was key.
At the time of writing, Stellar’s Lumen was down by 0.10% to $0.050315. A mixed start to the day saw Stellar’s Lumen rise from an early morning low $0.050118 to a high $0.051104.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move back through to $0.05110 levels to support a run at the first major resistance level at $0.05202.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.051104.
Barring a broad-based crypto rally, the first major resistance level would likely limit any upside on the day.
Failure to move back through to $0.05110 levels could see Stellar’s Lumen struggle throughout the day.
A fall through the morning low to sub-$0.049 levels would bring the first major support level at $0.047040 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer well clear of Monday’s low $0.045378.
Major Support Level: $0.047040
Major Resistance Level: $0.052020
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX rallied by 7.36% on Monday. Following a 0.11% fall on Sunday, Tron’s TRX ended the day at $0.014519.
Tracking the broader market, rallied from an early morning intraday low $0.013524 to a late intraday high $0.014522.
Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.01382 and the second major resistance level at $0.01412.
The third major resistance level at $0.01457 capped the upside on the day.
At the time of writing, Tron’s TRX was up by 1.23% to $0.014698. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.014513 to a high $0.014748.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to move through to $0.01470 levels to support a run at the first major resistance level at $0.01485.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.014748.
Barring an extended crypto rally, the first major resistance level would likely pin Tron’s TRX back on the day.
Failure to move back through to $0.01470 levels could see Tron’s TRX slide into the red.
A fall back through the morning low $0.014513 to sub-$0.01420 levels would bring the first major support level at $0.013850 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.014 levels on the day.
Major Support Level: $0.01385
Major Resistance Level: $0.01485
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
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.