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...
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.
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.
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 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.
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.
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 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.
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.
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
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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.