Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 18/12/19

Litecoin

Litecoin slid by 7.39% on Tuesday. Following on from an 8.13% tumble on Monday, Litecoin ended the day at $36.98.

A bearish start to the day saw Litecoin fall from an early morning intraday high $40.06 to an early afternoon low $37.87.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $38.08 to a new swing lo.

A recovery to $39 levels was brief, with Litecoin sliding to a late intraday low and new swing lo $36.16.

Litecoin fell through the first major support level at $38.08 and second major support level at $36.27 before closing out at $36.98…

At the time of writing, Litecoin was up by 1.27% to $37.45. A bullish start to the day saw Litecoin rise from an early morning low $36.73 to a high $37.78.

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

For the day ahead

Litecoin would need to move back through to $37.75 levels to support a run at the first major resistance level at $39.31.

Support from the broader market would be needed for Litecoin to break out from $38 levels.

Barring a broad-based crypto rally, however, Litecoin would likely fall well short of $40 levels on the day.

Failure to move through to $37.75 levels could see Litecoin resume the downward trend.

A fall back through the morning low $36.73 would bring the first major support level at $35.41 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$34 levels and the second major support level at $33.83.

Looking at the Technical Indicators

Major Support Level: $35.41

Major Resistance Level: $39.31

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen tumbled by 8.30% on Tuesday. Following on from a 7.22% slide on Monday, Stellar’s Lumen ended the day at $0.04347.

Bearish throughout the day, Stellar’s Lumen slid from an early morning intraday high $0.047402 to a late intraday low and new swing lo $0.042389.

Stellar’s Lumen fell through the first major support level at $0.04595 and second major support level at $0.04454.

A late move back through to $0.043 levels reduced the deficit for the day.

At the time of writing, Stellar’s Lumen was up by 3.21% to $0.044864. A bullish start to the day saw Stellar’s Lumen rally from an early morning low $0.043403 to a high $0.044864.

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

For the day ahead

Stellar’s Lumen would need to steer clear of $0.044 levels to support a run at the first major resistance level at $0.04645.

Support from the broader market would be needed for Stellar’s Lumen to break out from $0.045 levels.

Barring a broad-based crypto rally, however, the first major resistance level would likely pin Stellar’s Lumen back Tuesday’s high $0.047402.

Failure to steer clear of $0.044 levels could see Stellar’s Lumen slide back into the red.

A fall back through to sub-$0.044 levels would bring the first major support level at $0.04144 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.040 levels.

Looking at the Technical Indicators

Major Support Level: $0.04144

Major Resistance Level: $0.04645

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 slid by 7.01% on Tuesday. Following on from a 3.99% fall on Monday, Tron’s TRX ended the day at $0.01249.

A mixed start to the day saw Tron’s TRX fall from an early intraday high $0.013443 to a mid-morning $0.013261.

Steering clear of the major support and resistance levels, Tron’s TRX recovered to $0.01343 levels before hitting reverse.

The reversal saw Tron’s TRX slide through the first major support level at $0.01308 and second major support level at $0.01273 to an intraday low $0.012281.

At the time of writing, Tron’s TRX was up by 1.88% to $0.012725. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.012470 to a high $0.012797.

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 $0.01280 levels to support a run at the first major resistance level at $0.01321.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.013 levels.

Barring a broad-based crypto rebound, the first major resistance level would likely leave Tron’s TRX short of Tuesday’s high $0.013443.

Failure to move back through to $0.01280 levels could see Tron’s TRX hit reverse.

A fall back through the morning low $0.012470 would bring the first major support level at $0.01204 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.012 support 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