Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 25/02/20

Litecoin

Litecoin slid by 5.31% on Monday. Partially reversing a 6.58% rally from Sunday, Litecoin ended the day at $75.55.

Bearish through the day, Litecoin slid from an early morning intraday high $80.04 to a late afternoon intraday low $71.80.

Litecoin fell through the first major support level at $76.08 and the second major support level at $72.37.

Of greater significance, however, was a fall through the 38.2% FIB of $78.

Finding support late on, Litecoin broke back through the second major support level to wrap up the day at $75.55.

At the time of writing, Litecoin was down by 2.63% to $73.56. A bearish start to the day saw Litecoin fall from an early morning high $76.12 to a low $73.26.

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

For the day ahead

Litecoin would need to move through to $75.80 levels to support a run the first major resistance level at $79.79.

Support from the broader market would be needed, however, for Litecoin to breakout from the 38.2% FIB of $78.

Barring a broad-based crypto rally, the 38.2% FIB would likely leave Litecoin short of the first major resistance level.

Failure to move through to $75.80 levels could see Litecoin fall deeper into the red.

A fall back through the morning low $73.26 would bring the first major support level at $71.55 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$70 levels on the day.

Looking at the Technical Indicators

Major Support Level: $71.55

Major Resistance Level: $79.79

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 5.82% on Monday. Reversing a 4.42% gain from Sunday, Stellar’s Lumen ended the day at $0.069148.

Tracking the broader market, Stellar’s Lumen slid from an early morning intraday high $0.073827 to a late intraday low $0.067507.

Stellar’s Lumen fell through the first major support level at $0.07093 and the second major support level at $0.068450.

Finding support late on, Stellar’s Lumen moved back through the second major support level to wrap up the day at $0.069 levels.

At the time of writing, Stellar’s Lumen was down by 2.37% to $0.067509. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.069264 to a low $0.067509.

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 $0.07020 levels to support a run at the first major resistance level at $0.07281.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.069264.

Barring a broad-based crypto rebound, resistance at $0.070 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move through to $0.07020 levels could see Stellar’s Lumen struggle later in the day.

A fall back through Monday’s low $0.067507 would bring the first major support level at $0.06649 into play.

Barring another crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.0660 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.06649

Major Resistance Level: $0.07281

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 6.94% on Monday. Reversing a 6.54% rally from Sunday, Tron’s TRX ended the day at $0.019875.

A bearish start to the day saw Tron’s TRX slide from an early morning intraday high $0.021398 to a late afternoon intraday low $0.019200.

Tron’s TRX fell through the first major support level at $0.02053 and the second major support level at $0.01961.

Steering clear of sub-$0.019 support levels, Tron’s TRX broke back through the second major support level late on.

At the time of writing, Tron’s TRX was down by 0.73% to $0.019729. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.019921 to a low $0.019552.

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 to $0.02020 levels to support a run at the first major resistance level at $0.02112.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.019921.

Barring an extended crypto rally, resistance at $0.020 would likely leave Tron’s TRX short of the first major resistance level.

Failure to move through to $0.02020 levels could see Tron’s TRX slide deeper into the red.

A fall back through the morning low $0.019552 would bring the first major support level at $0.01892 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should continue to steer clear of sub-$0.019 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.01892

Major Resistance Level: $0.02112

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