It could be a choppy day ahead for the majors, as they give up early morning highs... A move back through Tuesday's highs by late morning would signal a breakout.
Litecoin gained 0.65% on Tuesday. Partially reversing a 0.76% decline from Monday, Litecoin ended the day at $57.49.
A bullish start to the day saw Litecoin rise to an early morning intraday high $57.98 before hitting reverse.
Falling short of the first major resistance level at $58.29, Litecoin slid to an early evening intraday low $55.76.
Litecoin found support at the first major support level at $55.81 to move back through to $57 levels and into the green.
At the time of writing, Litecoin was down by 0.05% to $57.46. A mixed start to the day saw Litecoin fall to an early morning low $57.37 before striking a high $57.81.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to move back through the morning high $57.81 to support a run at the first major resistance level at $58.03.
Support from the broader market would be needed, however, for Litecoin to break back through Tuesday’s high $57.98.
Barring a broad-based crypto rally, the first major resistance level at $58.03 and Tuesday’s high $57.98 would likely limit any upside.
Failure to move back through the morning high could likely see Litecoin spend the day in the red.
A fall back through to sub-$57.40 levels would bring the first major support level at $56.91 into play.
Barring a crypto meltdown, however, Litecoin should steer clear of sub-$56 levels on the day. The second major support level at $56.32 should limit any downside.
Major Support Level: $56.91
Major Resistance Level: $58.03
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen rose by 0.32% on Tuesday. Following on from a 4.19% rally on Monday, Stellar’s Lumen ended the day at $0.062868.
A relatively bullish start to the day saw Stellar’s Lumen rise to an early afternoon intraday high $0.06446 before hitting reverse.
Falling short of the first major resistance level at $0.06521, Stellar’s Lumen slid to an early evening intraday low $0.061496.
Holding above the first major support level at $0.05980, Stellar’s Lumen bounced back to $0.064 levels before easing back.
At the time of writing, Stellar’s Lumen was up by 0.14% to $0.062955. A range-bound start to the day saw Stellar’s Lumen rise from an early morning low $0.062943 to a high $0.062955.
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 $0.06439.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.064 levels.
Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $0.06446 should limit any upside.
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-$0.06290 levels would bring the first major support level at $0.06142 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer well clear of sub-$0.0600 levels.
Major Support Level: $0.06142
Major Resistance Level: $0.06439
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX rallied by 4.39% on Tuesday. Following a flat Monday, Tron’s TRX ended the day at $0.017308.
A bullish start to the day saw Tron’s TRX rally from an early morning intraday low $0.01658 to an early afternoon intraday high $0.017591.
Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.01686 and the second major resistance level at $0.01708.
Coming within range of the third major resistance level at $0.01763, Tron’s TRX fell back to sub-$0.017 levels.
Finding support at the first major resistance level at $0.01686, Tron’s TRX broke back through the second major resistance level to wrap the day at $0.017 levels.
At the time of writing, Tron’s TRX was up by 0.76% to $0.017439. A relatively bullish start to the day saw Tron’s TRX rise from an early morning low $0.017395 to a high $0.017439.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to move back through Tuesday’s high $0.017591 to support a run at the first major resistance level at $0.01774.
Support from the broader market would be needed, however, for Tron’s TRX to break through to $0.0177 levels.
Barring a broad-based crypto rally, Tuesday’s high $0.017591 and first major resistance level would likely cap any upside.
Failure to move through to Tuesday’s high could see Tron’s TRX hit reverse.
A fall back through to sub-$0.01716 levels would bring the first major support level at $0.01673 into play
Barring a crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.016 levels. The second major support level at $0.01615 should limit any downside on the day.
Major Support Level: $0.01673
Major Resistance Level: $0.01774
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.