Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 17/12/19

Litecoin

Litecoin tumbled by 8.13% on Monday. Following a 4.80% fall from last week, Litecoin ended the day at $39.90.

A bearish start to the day saw Litecoin fall from an early morning intraday high $43.51 to a mid-morning low $42.45.

Litecoin fell through the first major support level at $42.85 before recovering to $43 levels in the early afternoon.

The recovery was short-lived, however, with a crypto meltdown seeing Litecoin slide to a late intraday low and new swing lo $38.98.

Litecoin fell through the major support levels before steadying. In spite of finding late support, Litecoin wrapped up the day at sub-$40 for the 1^st time since February

At the time of writing, Litecoin was down by 0.53% to $39.69. A mixed start to the day saw Litecoin rise to an early morning high $40.06 before falling to a low $39.51.

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

For the day ahead

Litecoin would need to move through to $40.80 levels to support a run at the first major resistance level at $42.61.

Litecoin would need the support of the broader market to break out from $40 levels.

Barring a broad-based crypto rally, however, Litecoin would likely fall well short of $42 levels on the day.

Failure to move through to $40.80 levels could see Litecoin slide deeper into the red. A fall back through the morning low $39.51 would bring the first major support level at $38.08 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $36.27.

Looking at the Technical Indicators

Major Support Level: $38.08

Major Resistance Level: $42.61

23.6% FIB Retracement Level: $64

38.2% FIB Retracement Level: $80

62% FIB Retracement Level: $105

Stellar’s Lumen

Stellar’s Lumen slid by 7.22% on Monday. Following on from a 9.03% tumble from last week, Stellar’s Lumen ended the day at $0.047347

A bearish start to the day saw Stellar’s Lumen fall from an early morning intraday high $0.051101 to a late morning low $0.050500.

Stellar’s Lumen fell through the first major support level at $0.05066 before recovering to $0.0510 levels.

The recovery was brief, however. Pressured by a crypto meltdown, Stellar’s Lumen tumbled to a late intraday low and new swing lo $0.047121.

Stellar’s Lumen fell through the day’s major support levels before steadying.

At the time of writing, Stellar’s Lumen was down by 2.72% to $0.04606. A bearish start to the day saw Stellar’s Lumen slide from an early morning high $0.047402 to a new swing lo $0.04580.

Steering clear of the major resistance levels, Stellar’s Lumen fell through the first major support level at $0.04595.

For the day ahead

Stellar’s Lumen would need to move back through to $0.04850 levels to support a run at the first major resistance level at $0.04993.

Support from the broader market would be needed for Stellar’s Lumen to break out from the morning high $0.047402.

Barring a broad-based crypto rally, however, the first major resistance level would likely pin Stellar’s Lumen back from $0.050 levels.

Failure to move through to $0.04850 levels could see Stellar’s Lumen struggle throughout the day.

A fall back through the first major support level at $0.04595 would bring the second major support level at $0.04454 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.044 levels.

Looking at the Technical Indicators

Major Support Level: $0.04595

Major Resistance Level: $0.04993

23.6% FIB Retracement Level: $0.1080

38% FIB Retracement Level: $0.1456

62% FIB Retracement Level: $0.2065

Tron’s TRX

Tron’s TRX fell by 3.99% on Monday. Following on from a 5.14% fall from last week, Tron’s TRX ended the day at $0.013438.

A mixed start to the day saw Tron’s TRX fall to a mid-morning low $0.013819 before finding support.

Tron’s TRX fell through the first major support level at $0.013840 before striking an early afternoon intraday high $0.013999.

Falling short of the first major resistance level at $0.01412, Tron’s TRX tumbled to a late intraday low $0.013187.

The meltdown saw Tron’s TRX fall through the day’s major support levels.

Finding support late in the day, Tron’s TRX managed to break back through the third major support level at $0.01339.

At the time of writing, Tron’s TRX was down by 0.19% to $0.013413. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.013443 to a low $0.013316.

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

For the Day Ahead

Tron’s TRX would need to move back through to $0.01355 levels to support a run at the first major resistance level at $0.01389.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.013443.

Barring a broad-based crypto rebound, the first major resistance level would likely leave Tron’s TRX short of $0.014 levels.

Failure to move back through to $0.01355 levels could see Tron’s TRX slide deeper into the red.

A fall back through the morning low $0.013316 would bring the first major support level at $0.01308 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.0130 levels.

Looking at the Technical Indicators

Major Support Level: $0.01308

Major Resistance Level: $0.01389

23.6% FIB Retracement Level: $0.0663

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0322

Please let us know what you think in the comments below

Thanks, Bob