It's a mixed start to the day. Steering clear of key levels through the morning would support a breakout later in the day.
Litecoin fell by 0.76% on Monday. Following on from a 2.82% slide on Sunday, Litecoin ended the day at $57.10.
A bearish start to the day saw Litecoin fall to an early afternoon intraday low $55.71 before finding support.
Steering clear of the first major support level at $54.43, Litecoin struck a late afternoon intraday high $58.19.
Falling well short of the first major resistance level at $61.60, Litecoin eased back to $57 levels and into the red.
At the time of writing, Litecoin was up by 0.30% to $57.27. A mixed start to the day saw Litecoin fall to an early morning low $56.86 before striking a high $57.32.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to steer clear of sub-$57.00 levels to support a run at the first major resistance level at $58.29.
Support from the broader market would be needed for Litecoin to move back through $58 levels.
Barring a broad-based crypto rally, however, the first major resistance level and Monday’s high $58.19 would likely limit any upside.
Failure to steer clear of sub-$57.00 levels would likely see Litecoin spend the day in the red.
A fall back through to $56.50 levels would bring the first major support level at $55.81 into play.
Barring a crypto meltdown, however, Litecoin should steer clear of sub-$55 levels on the day.
Major Support Level: $55.81
Major Resistance Level: $58.29
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen rallied by 4.19% on Monday. Reversing a 1.87% fall from Sunday, Stellar’s Lumen to end the day at $0.062675.
A relatively bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.059469.
Steering clear of the first major support level at $0.05687, Stellar’s Lumen rallied to a late morning intraday high $0.064878.
Stellar’s Lumen came up against the first major resistance level at $0.06472 before easing back to $0.061 levels.
In the mid-afternoon, Stellar’s Lumen tested the first major resistance level for a 2nd time with a high $0.064777 before easing back.
At the time of writing, Stellar’s Lumen was up by 0.43% to $0.062945. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.062030 before rising to a high $0.062945.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move through to $0.063 levels to support a run at the first major resistance level at $0.06521.
Support from the broader market would be needed for Stellar’s Lumen to break out from the Monday’s high $0.064878.
Barring a broad-based crypto rally, however, Stellar’s Lumen would likely come up short of $0.065 levels on the day.
Failure to move back through to sub-$0.063 levels could see Stellar’s Lumen struggle throughout the day.
A fall back through to sub-$0.06230 would bring the first major support level at $0.05980 into play.
Barring a broad-based crypto sell-off, however, Stellar’s Lumen should steer well clear of sub-$0.0600 levels.
Major Support Level: $0.05980
Major Resistance Level: $0.06521
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX ended the day flat on Monday. Following a 5.93% slide from Sunday, Tron’s TRX ended the day at $0.016649.
A mixed start to the day saw Tron’s TRX rise to an early morning intraday high $0.016745 before hitting reverse.
Falling short of the first major resistance level at $0.01781, Tron’s TRX slid to an early afternoon intraday low $0.016195.
Steering clear of the first major support level at $0.01569, Tron’s TRX recovered to $0.01670 levels before easing back.
At the time of writing, Tron’s TRX was down by 0.41% to $0.016580. A bearish start to the day saw Tron’s TRX fall from an end of Monday $0.016649 to a low $0.016580.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to steer clear of sub-$0.01650 levels to support a run at the first major resistance level at $0.016860.
Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.016754.
Barring a broad-based crypto rally, Monday’s high and first major resistance level would likely cap any upside.
Failure to steer clear of sub-$0.01650 levels could see Tron’s TRX fall deeper into the red.
A fall back through to $0.01640 levels would bring the first major support level at $0.01631 into play
Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.016 levels and the second major support level at $0.01598.
Major Support Level: $0.01631
Major Resistance Level: $0.01686
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.