Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 25/12/19

A bearish start to the day could bring heavy losses should key levels not be hit by late morning… It’s not the end to the year that many had hoped for.
Bob Mason
Bitcoin coin on white keyboard

Litecoin

Litecoin fell by 0.59% on Tuesday. Following on from a 3.13% slide on Monday, Litecoin ended the day at $40.30.

A relatively bullish morning saw Litecoin rise from a mid-morning low $40.33 to an early afternoon intraday high $41.12.

Falling well short of the first major resistance level at $42.12, Litecoin slid to a late afternoon intraday low $39.75.

Steering clear of the first major support level at $39.66, Litecoin recovered to $40 levels to limit the downside on the day.

At the time of writing, Litecoin was down by 0.79% to $39.98. A bearish start to the day saw Litecoin fall from an early morning high $40.38 to a low $39.84.

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

For the day ahead

Litecoin would need to move through to $40.40 levels to support a run at the first major resistance level at $41.03.

Litecoin would need the support of the broader market to break out from the morning high $40.38.

Barring an extended crypto rally, however, resistance at $41 would likely cap any upside on the day.

Failure to move through to $40.40 levels could see Litecoin slide deeper into the red.

A fall back through the morning low $39.84 would bring the first major support level at $39.66 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$39 levels on the day. The second major support level at $39.02 would likely limit any downside.

Looking at the Technical Indicators

Major Support Level: $39.66

Major Resistance Level: $41.03

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 0.24% on Tuesday. Partially reversing a 5.32% slide from Monday, Stellar’s Lumen ended the day at $0.045079.

A bearish start to the day saw Stellar’s Lumen slide to a mid-morning intraday low $0.0447 before finding support.

Steering clear of the first major support level at $0.04391, Stellar’s Lumen bounced back to an early afternoon intraday high $0.045742.

Falling short of the first major resistance level at $0.04685, Stellar’s Lumen eased back late in the day to limit the upside.

At the time of writing, Stellar’s Lumen was flat at $0.045080. Another range-bound start to the day saw Stellar’s Lumen fall to an early morning low $0.044989 before striking a high $0.04508.

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 $0.4517 levels to support a run at the first major resistance level at $0.04565.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.04508.

Barring a broad-based crypto rally, however, the resistance at $0.045 levels would likely pin Stellar’s Lumen back on the day.

Failure to move through to $0.04517 levels could see Stellar’s Lumen slide back into the red.

A fall through the morning low $0.044989 would bring the first major support level at $0.04461 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of the second major support level at $0.04413.

Looking at the Technical Indicators

Major Support Level: $0.04461

Major Resistance Level: $0.04565

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 1.15% on Tuesday. Following on from an 8.63% tumble on Monday, Tron’s TRX ended the day at $0.013646.

A mixed start to the day saw Tron’s TRX fall to an early morning low $0.013430 before striking an early afternoon intraday high $0.013856.

Falling well short of the first major resistance level at $0.01523, Tron’s TRX slid to a late afternoon intraday low $0.013202.

Steering clear of the first major support level at $0.01293, Tron’s TRX recovered to $0.01360 levels to limit the loss on the day.

At the time of writing, Tron’s TRX was down by 1.10% to $0.013496. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.013601 to a low $0.013368.

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 $0.013570 levels to support a move through the first major resistance level at $0.013930.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.013601.

Barring an extended crypto rally, the first major resistance level would likely limit any upside later in the day.

Failure to move through to $0.013570 levels could see Tron’s TRX fall deeper into the red.

A fall back through the morning low $0.013368 would bring the first major support level at $0.013280 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.013 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.01328

Major Resistance Level: $0.01422

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

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