Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 11/03/20

Litecoin

Litecoin slipped by 0.69% on Tuesday. Following on from a 1.13% fall on Monday, Litecoin ended the day at $50.14.

A mixed morning saw Litecoin fall to a mid-morning low $48.92 before striking a mid-day intraday high $51.50.

Falling short of the first major resistance level at $53.16, Litecoin slid to a mid-afternoon intraday low $48.84.

Steering clear of the first major support level at $47.26, Litecoin found support to wrap up the day at $50 levels.

At the time of writing, Litecoin was down by 0.22% to $50.03. Another mixed start to the day saw Litecoin rise to an early morning high $50.72 before falling to a low $49.76.

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

For the day ahead

Litecoin would need to move through to $50.20 levels to support a run the first major resistance level at $51.48.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $50.72.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $51.5 would likely cap any upside.

Failure to move through to $50.20 levels could see Litecoin fall deeper into the red.

A fall back through to sub-$50 levels would bring the first major support level at $48.82 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$48 support levels.

Looking at the Technical Indicators

Major Support Level: $48.82

Major Resistance Level: $51.48

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slipped by 0.27% on Tuesday. Following a 4.73% rally on Monday, Stellar’s Lumen ended the day at $0.052052.

Tracking the broader market, Stellar’s Lumen fell to a mid-morning intraday low $0.050827 before finding support.

Steering clear of the first major support level at $0.04935, Stellar’s Lumen struck an early afternoon intraday high $0.053482.

Falling short of the first major resistance level at $0.05390, Stellar’s Lumen fell back to $0.051 levels.

While finding support late on, Stellar’s Lumen failed to fully reverse the losses on the day.

At the time of writing, Stellar’s Lumen was up by 0.26% to $0.052187. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.052531 before falling to a low $0.051717.

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would need to move back through the morning high $0.052531 to support a run at the first major resistance level to $0.05341.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.053 levels.

Barring a broad-based crypto rebound, the first major resistance level and Tuesday’s high $0.053482 would likely limit any upside on the day.

Failure to move through the morning high could see Stellar’s Lumen hit reverse.

A fall back through to sub-$0.05210 levels would bring the first major support level at $0.05076 into play.

Barring a broad-based crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.050 support levels.

Looking at the Technical Indicators

Major Support Level: $0.05076

Major Resistance Level: $0.05341

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 0.49% on Tuesday. Following on from a 2.97% rally on Monday, Tron’s TRX ended the day at $0.015111.

A mixed start to the day saw Tron’s TRX fall to a mid-morning intraday low $0.014687 before finding support.

Steering clear of the first major support level at $0.01437, Tron’s TRX struck a mid-day intraday high $0.015422.

Falling short of the first major resistance level at $0.01563, Tron’s TRX fell back to $0.01480 levels before finding late support.

At the time of writing, Tron’s TRX was down by 0.01% to $0.015110. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.015324 before falling to a low $0.015014.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to avoid sub-$0.01510 levels to support a run at the first major resistance level at $0.01546.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the Tuesday’s high $0.015422.

Barring an extended crypto rally, the first major resistance at $0.01546 would likely cap any upside on the day.

Failure to avoid sub-$0.01510 levels could see Tron’s TRX struggle throughout the day.

A fall back through the morning low $0.015014 would bring the first major support level at $0.01472 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer sub-$0.014 levels on the day.

The second major support level at $0.01434 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01472

Major Resistance Level: $0.01546

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