Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 18/02/20

Litecoin

Litecoin fell by 1.63% on Monday. Following on from a 2.68% decline on Sunday, Litecoin ended the day at $73.43.

A bearish start to the day saw Litecoin slide from an early morning intraday high $75.47 to a late morning intraday low $68.58.

Steering clear of the first major support level at $67.72, Litecoin found support through the 2^nd half of the day.

Litecoin briefly recovered to $74 levels before sliding back to close out the day at $73 levels.

At the time of writing, Litecoin was up by 1.12% to $74.25. A mixed start to the day saw Litecoin fall to an early morning low $72.15 before rising to a high $74.70.

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

For the day ahead

Litecoin would need to move back through to $75 levels to support a run the first major resistance level at $76.41.

Support from the broader market would be needed, however, for Litecoin to breakout from Monday’s high $75.47.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside.

Failure to break back through to $75 levels could see Litecoin fall back into the red.

A fall back through sub-$72.50 levels would bring the first major support level at $69.52 into play.

Barring another crypto sell-off, however, Litecoin should steer clear of sub-$68 levels on the day.

Looking at the Technical Indicators

Major Support Level: $69.52

Major Resistance Level: $76.41

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 2.93% on Monday. Following on from a 3.19% decline on Sunday, Stellar’s Lumen ended the day at $0.072395.

A bearish start to the day saw Stellar’s Lumen slide from an intraday high $0.075295 to a late morning intraday low $0.067398.

Steering clear of the major resistance levels, Stellar’s Lumen fell through the first major support level at $0.06791.

Finding support in the early afternoon, Stellar’s Lumen briefly revisited $0.073 levels before sliding back into the deep red.

At the time of writing, Stellar’s Lumen was up by 2.55% to $0.074242. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.071024 before striking a high $0.074242.

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

For the day ahead

Stellar’s Lumen would need to move through to $0.075 levels to support a run at the first major resistance level at $0.07599.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the Monday’s high $0.075295.

Barring an extended crypto rally, the first major resistance and Monday’s high would likely limit any upside on the day.

Failure to move through to $0.0750 levels could see Stellar’s Lumen hit reverse.

A fall back through to sub-$0.07170 would bring the first major support level at $0.06810 into play.

Barring another crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.068 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.06810

Major Resistance Level: $0.07599

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 fell by 2.21% on Monday. Following on from a 5.40% slide on Sunday, Tron’s TRX ended the day at $0.021797.

Tracking the broader market, Tron’s TRX fell from an intraday high $0.022487 to a late morning intraday low $0.020151.

Steering clear of the major support and resistance levels, Tron’s TRX recovered to an afternoon high $0.02180.

Failing to move back through to $0.02240 levels, Tron’s TRX slid back to wrap up the day at sub-$0.022 levels.

At the time of writing, Tron’s TRX was up by 0.79% to $0.021970. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.021399 before rising to a high $0.022263.

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

For the Day Ahead

Tron’s TRX would need to move through the morning high $0.022263 to support a run at the first major resistance level at $0.02281.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.022487.

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

Failure to move back through the morning high could see Tron’s TRX give up the early gains.

A fall back through to sub-$0.02150 levels would bring the first major support level at $0.02047 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should continue to steer clear of sub-$0.020 levels, however.

Looking at the Technical Indicators

Major Support Level: $0.02047

Major Resistance Level: $0.02281

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