Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 26/05/20

Litecoin

Litecoin rose by 2.09% on Monday. Partially reversing 4.08% slide from Sunday, Litecoin ended the day at $42.96.

A bearish start to the day saw Litecoin fall to an early morning intraday low $41.76 before finding support.

Steering clear of the first major support level at $41.21, Litecoin rose to a late morning intraday high $43.31.

Falling short of the first major resistance level at $43.73, Litecoin fell back to $42 levels going into the afternoon.

A late afternoon return to $43 levels was brief, with Litecoin wrapping up the day at $42 levels.

At the time of writing, Litecoin was down by 0.79% to $42.62. A mixed start to the day saw Litecoin rise to an early morning high $43.07 before falling to a low $42.35.

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

For the day ahead

Litecoin would need to move back through to $42.70 levels to bring the first major resistance level at $43.59 into play.

Support from the broader market would be needed, however, for Litecoin to breakout from Monday’s high $43.31.

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

Failure to move back through to $42.70 levels could see Litecoin fall deeper into the red.

A fall back through the morning low $42.35 would bring the first major support level at $42.04 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $41.13.

Looking at the Technical Indicators

Major Support Level: $42.04

Major Resistance Level: $43.59

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rallied by 3.26% on Monday. Partially reversing a 4.74% slide from Sunday, Stellar’s Lumen ended the day at $0.066044.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.063783 before making a move.

Steering clear of the first major support level at $0.06249, Stellar’s Lumen rose to an early evening intraday high $0.066240 before.

Falling short of the first major resistance level at $0.06684 Stellar’s Lumen wrapped up the day at $0.066 levels.

At the time of writing, Stellar’s Lumen was up by 0.52% to $0.066385. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.066042 to a high $0.066385.

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

For the day ahead

Stellar’s Lumen would need to avoid sub-$0.06540 levels to bring the first major resistance level at $0.06693 into play.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.066385.

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

Failure to avoid sub-$0.06540 levels could see Stellar’s Lumen give up Monday’s gains.

A fall through to sub-$0.06540 levels would bring the first major support level at $0.06447 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06290.

Looking at the Technical Indicators

Major Support Level: $0.06447

Major Resistance Level: $0.06693

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 rallied by 3.83% on Monday. Partially reversing a 5.15% slide from Sunday, Tron’s TRX ended the day at $0.014710.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.014117 before finding support.

Steering clear of the first major support level at $0.01383, Tron’s TRX rose to a final hour intraday high $0.014710.

In spite of the support throughout the day, Tron’s TRX came up short of the first major resistance level at $0.01493.

At the time of writing, Tron’s TRX was down by 1.01% to $0.014561. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.014709 to a low $0.014561.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to avoid sub-$0.01450 levels to support a run at the first major resistance level at $0.01491.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.014710.

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

Failure to avoid sub-$0.01450 levels could see Tron’s TRX fall deeper into the red.

A fall through to sub-$0.01450 levels would bring the first major support level at $0.01431 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.01392.

Looking at the Technical Indicators

Major Support Level: $0.01431

Major Resistance Level: $0.01491

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