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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 15/01/20

It’s a choppy start to the morning. Failure to move back through to key levels could see the majors cough up Tuesday’s gains…
Bob Mason
Depositphotos_166797044_s-2019

Litecoin

Litecoin surged by 17.81% on Tuesday. Reversing a 3.56% slide from Monday, Litecoin ended the day at $58.40.

A particularly bullish day saw Litecoin rally from an early morning intraday low $49.56 to a late intraday high $60.80.

Steering clear of the major support levels, Litecoin broke through the major resistance levels to hit $60 for the 1st time since November.

In spite of a late pullback to sub-$60, Litecoin held above the third major resistance level at $55.58.

At the time of writing, Litecoin down by 2.35% to $57.03. A bearish start to the day saw Litecoin fall from an early morning high $60.25 to a low $56.62.

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

For the day ahead

Litecoin would need to break back through to $60 levels to support a run at the first major resistance at $62.95 and 23.6% FIB of $62.

Support from the broader market would be needed for Litecoin to break out from Tuesday’s high $60.80.

Barring an extended crypto rally, however, resistance at $60 would likely continue to limit any upside.

Failure to move back through to $60 levels could see Litecoin fall deeper into the red.

A fall back through to sub-$56.3 levels would bring the first major support level at $51.71 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$50 levels on the day.

Looking at the Technical Indicators

Major Support Level: $51.71

Major Resistance Level: $62.95

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 9.03% on Tuesday. Reversing a 1.89% fall from Monday, Stellar’s Lumen ended the day at $0.052501.

Bullish through the day, Stellar’s Lumen rallied from an early morning intraday low $0.048106 to a late intraday high $0.054871.

Steering clear of the major support levels, Stellar’s Lumen broke through the major resistance levels of the day.

In spite of a late pullback to $0.051 levels, Stellar’s Lumen held above the third major resistance level at $0.05094.

At the time of writing, Stellar’s Lumen was up by 0.53% to $0.052781. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.051841 before striking a high $0.054682.

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 to $0.054 levels to support a run at the first major resistance level at $0.05555.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.054682.

Barring an extended crypto rally, resistance at $0.054 would likely limit any upside on the day.

Failure to move back through to $0.054 levels could see Stellar’s Lumen hit reverse.

A fall to sub-$0.05180 levels would bring the first major support level at $0.04878 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer well clear of sub-$0.0500 levels.

Looking at the Technical Indicators

Major Support Level: $0.04878

Major Resistance Level: $0.05555

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 13.38% on Tuesday. Reversing a 2.18% fall from Monday, Tron’s TRX ended the day at $0.016686.

Bullish through the day, Tron’s TRX rallied from an early morning intraday low $0.014717 to a late intraday high $0.017081.

Steering clear of the major support levels, Tron’s TRX broke through the day’s major resistance levels.

While easing back to sub-$0.017 levels late on, Tron’s TRX held above the third major resistance level at $0.01567.

At the time of writing, Tron’s TRX was down by 1.06% to $0.016509. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.01750 before sliding to a low $0.016401.

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

For the Day Ahead

Tron’s TRX would need to break back through to $0.017 levels to bring the first major resistance level at $0.01761 into play.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.017 levels.

Barring a broad-based crypto rebound, the first major resistance level and Tuesday’s high $0.017081 would likely cap any upside.

Failure to move back through to $0.017 levels could see Tron’s TRX give up more of Tuesday’s gains.

A fall through to sub-$0.01620 levels would bring the first major support level at $0.01524 into play.

Barring a crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.014 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.01524

Major Resistance Level: $0.01761

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

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