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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 26/03/20

It’s been a choppy start to the morning. A move through the early highs would bring resistance levels into play before any pullback.
Bob Mason
Depositphotos_166510852_s-2019

Litecoin

Litecoin fell by 3.59% on Wednesday. Reversing a 4.07% gain from Tuesday, Litecoin ended the day at $39.25.

A mixed start to the day saw Litecoin rally to a late morning intraday high $41.21 before hitting reverse.

Falling short of the first major resistance level at $41.70, Litecoin slid to a late morning intraday low $38.24.

Litecoin fell through the first major support level at $39.04 before recovering to an afternoon high $40.00.

A return to $40 was short-lived, however, with Litecoin sliding back to sub-$39 levels before finding late support.

At the time of writing, Litecoin was up by 1.17% to $39.71. A mixed start to the day saw Litecoin rise to an early morning high $40.06 before falling to a low $39.23.

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

LTC/USD 26/03/20 Daily Chart

For the day ahead

Litecoin would need to move back through to $40 levels to support another run the first major resistance level at $41.70.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $40.74.

Barring a broad-based crypto rebound, resistance at $41 would likely leave Litecoin short of the first major resistance at $41.70.

Failure to move through the morning high $40 levels could see Litecoin fall into the red.

A fall back through the morning low $39.23 would bring the first major support level at $39.04 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $37.39.

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Looking at the Technical Indicators

Major Support Level: $37.92

Major Resistance Level: $40.89

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 0.47% on Wednesday. Following on from a 1.71% gain on Tuesday, Stellar’s Lumen ended the day at $0.040278.

A mixed start saw Stellar’s Lumen slide to an early morning intraday low $0.039300 before finding support.

Stellar’s Lumen fell through the first major support level at $0.03952 before striking a late morning intraday high $0.040952.

Coming within range of the first major resistance level at $0.040970, Stellar’s Lumen fell back to sub-$0.040 levels.

Finding support through the afternoon, Stellar’s Lumen recovered to $0.040 levels to end the day in the green.

At the time of writing, Stellar’s Lumen was up by 0.41% to $0.040445. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.040735 before falling to a low $0.040445.

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

For the day ahead

Stellar’s Lumen would need to move back through the morning high $0.040735 to support a run at the first major resistance level to $0.041050.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Wednesday’s high $0.040952.

Barring a broad-based crypto rally, the first major resistance level at $0.04105 would likely limit any upside.

Failure to move through the morning high $0.040735 could see Stellar’s Lumen fall back into the red.

A fall back through the morning low to sub-$0.04020 levels would bring the first major support level at $0.03940 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.039 support levels.

Looking at the Technical Indicators

Major Support Level: $0.03940

Major Resistance Level: $0.04105

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 slipped by 0.39% on Wednesday. Partially reversing a 0.86% gain from Tuesday, Tron’s TRX ended the day at $0.011387.

A mixed start saw Tron’s TRX rise to a late morning intraday high $0.011479 before hitting reverse.

Falling short of the first major resistance level at $0.01180, Tron’s TRX fell to a late morning intraday low $0.011043.

Tron’s TRX fell through the first major support level at $0.01124 before recovering to $0.0113 levels.

Late in the day, Tron’s TRX fell back to $0.0111 levels before wrapping up the day at $0.0113 levels

At the time of writing, Tron’s TRX was up by 0.91% to $0.011491. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.011550 before falling to a low $0.011387.

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 the morning high $0.011550 to support a run at the first major resistance level at $0.01174.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.01150 levels.

Barring an extended crypto rally, the first major resistance at $0.01174 would likely cap any upside.

Failure to move through the morning high $0.011550 could see Tron’s TRX struggle later in the day.

A fall through to sub-$0.01140 levels would bring the first major support level at $0.01104 into play.

Barring another crypto meltdown, however, Tron’s TRX should steer clear of the second major support level at $0.01069.

Looking at the Technical Indicators

Major Support Level: $0.01104

Major Resistance Level: $0.01174

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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