Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 27/01/20

Litecoin

Litecoin rallied by 5.51% on Sunday. Reversing a 2.04% loss from Saturday, Litecoin end the week down by 2.54% to $56.08.

A bearish start to the day saw Litecoin fall to an early morning intraday low $52.75 before making a move.

Steering clear of the first major support level at $52.17, Litecoin rallied to a late afternoon intraday high $56.53.

Litecoin broke through the first major resistance level at $54.30 and the second major resistance level at $55.38.

In spite of a late pullback, Litecoin held above the second major resistance level through to the day end.

At the time of writing, Litecoin was up by 0.95% to $56.61. A bullish start to the day saw Litecoin rise from an early morning low $56.09 to a high $57.11.

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

For the day ahead

Litecoin would need to break back through to $57 levels to support another run at the first major resistance level to $57.49 levels.

Support from the broader market would be needed, however, for Litecoin to break back through to the morning high $57.11.

Barring an extended crypto rally, the first major resistance level at $57.49 would likely limit any upside.

Failure to move through to $57 levels would likely see Litecoin hit reverse.

A fall back through the morning low $56.09 to sub-$55.10 levels would bring the first major support level at $53.71 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$55 levels on the day.

Looking at the Technical Indicators

Major Support Level: $53.71

Major Resistance Level: $57.49

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 4.18% on Sunday. Reversing a 1.05% fall from Saturday, Stellar’s Lumen ended the week down by 2.84% to $0.058444.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.055834 before finding support.

Steering clear of the first major support level at $0.05548, Stellar’s Lumen rallied to a late afternoon intraday high $0.058682.

Stellar’s Lumen broke through the first major resistance level at $0.05709 and the second major resistance level at $0.05793.

A pullback late in the day saw Stellar’s Lumen fall back through the second major resistance level before breaking back through to wrap up the day at $0.058 levels.

At the time of writing, Stellar’s Lumen was up by 0.87% to $0.058950. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.058597 to a high $0.059230.

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

For the day ahead

Stellar’s Lumen would need to break back through to $0.059 levels to support a run at the first major resistance level at $0.05947.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through the morning high $0.059230.

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

Failure to move back through to $0.059 levels could see Stellar’s Lumen give up the morning gains.

A fall through the morning low $0.058597 to sub-$0.05770 levels would bring the first major support level at $0.05662 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.057 levels

Looking at the Technical Indicators

Major Support Level: $0.05662

Major Resistance Level: $0.05947

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 4.32% on Sunday. Reversing a 0.61% loss from Saturday, Tron’s TRX ended the week up by 1.01% to $0.016817.

Tracking the broader market, Tron’s TRX slipped to an early morning intraday low $0.016096 before making a move.

Steering clear of the first major support level at $0.01601, Tron’s TRX rallied to a late intraday high $0.016837.

Tron’s TRX broke through the first major resistance level at $0.01635 and the second major resistance level at $0.01653.

While easing back late in the day, Tron’s TRX avoided a pullback through the second major resistance level to close out the day at $0.0168 levels.

At the time of writing, Tron’s TRX was up by 1.34% to $0.017043. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.016891 to a high $0.017065.

Steering clear of the major support levels, Tron’s TRX came up against the first major resistance level at $0.01707 early on.

For the Day Ahead

Tron’s TRX would need to move back through the morning high $0.017065 to support a breakout from the first major support level to $0.01707.

Support from the broader market would be needed, however, for Tron’s TRX to break back through the morning high $0.017065.

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

Failure to move through the morning high $0.01765 could see Tron’s TRX hit reverse.

A fall back through the morning low $0.016891 to sub-$0.01658 levels would bring the first major support level at $0.01633 into play.

Barring a crypto meltdown, however, Tron’s TRX should steer well clear of the second major support level at $0.01584.

Looking at the Technical Indicators

Major Support Level: $0.01633

Major Resistance Level: $0.01707

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