The majors are under pressure early, with more losses on the cards should they fail to move back through early highs by the late morning.
Litecoin fell by 1.88% on Monday. Reversing a 0.87% gain on Sunday, Litecoin ended the day at $42.23.
A bullish start to the day saw Litecoin rally to a mid-morning intraday high $44.02 before hitting reverse.
Litecoin broke through the first major resistance level at $43.85 before sliding to a mid-afternoon intraday low $41.72.
The reversal saw Litecoin fall through the first major support level at $42.18 before recovering to $42 levels.
At the time of writing, Litecoin was down by 0.33% to $42.09. A mixed start to the day saw Litecoin rise from an early morning low $41.99 to a high $42.56.
Litecoin left the major support and resistance levels untested early on.
Litecoin would need to move back through to $42.70 levels to support a run at the first major resistance level at $43.59.
Support from the broader market would be needed for Litecoin to break back through to $43 levels.
Barring a crypto rebound, however, the first major resistance level would likely cap any upside.
Failure to move through the $42.70 could see Litecoin fall deeper into the red.
A fall back through the morning low $41.99 would bring the first major support level at $41.29 into play.
Barring an extended sell-off, however, Litecoin should steer clear the second major support level at $40.36.
Major Support Level: $41.29
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 fell by 1.09% on Monday. Reversing a 1.21% gain from Sunday, Stellar’s Lumen ended the day at $0.04575.
A bullish start to the day saw Stellar’s Lumen rally to a late morning intraday high $0.046999.
Stellar’s Lumen came up against the first major resistance level at $0.04700 before sliding to a late afternoon intraday low $0.04555.
The reversal saw Stellar’s Lumen fall through the first major support level at $0.04593 before recovering to $0.046 levels.
A late pullback saw Stellar’s Lumen slide back through the first major support level ahead of the day end.
At the time of writing, Stellar’s Lumen was down by 0.30% to $0.045612. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.045554 before striking a high $0.045884.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move back through to $0.4610 levels to support a run at the first major resistance level at $0.04665.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.045884.
Barring a broad-based crypto rally, the first major resistance level at $0.04665 would likely pin Stellar’s Lumen back on the day.
Failure to move through to $0.04610 levels could see Stellar’s Lumen slide deeper into the red.
A fall through the morning low $0.045554 would bring the first major support level at $0.04520 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer clear the second major support level at $0.04465.
Major Support Level: $0.04520
Major Resistance Level: $0.04665
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX slid by 2.53% on Monday. Reversing a 2.63% rally from Sunday, Tron’s TRX ended the day at $0.013353.
Tracking the broader market, Tron’s TRX rallied to an early morning intraday high $0.013838 before hitting reverse.
Falling short of the first major resistance level at $0.01400, Tron’s TRX slid to a late afternoon intraday low $0.013178.
The reversal saw Tron’s TRX fall through the first major support level at $0.01351 and the second major support level at $0.01321.
Finding support late on, Tron’s TRX recovered to $0.0133 levels to limit the downside on the day.
At the time of writing, Tron’s TRX was down by 0.19% to $0.013328. A mixed start to the day saw Tron’s TRX rise from an early morning low $0.013270 to a high $0.013348.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to move through to $0.01350 levels to support a run at the first major resistance level at $0.013730.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.013348.
Barring an extended crypto rally, the first major resistance level and Monday’s high $0.013838 would likely pin Tron’s TRX back on the day.
Failure to move back through to $0.01350 levels could see Tron’s TRX struggle throughout the day.
A fall back through the morning low $0.013270 would bring the first major support level at $0.01307 into play.
Barring an extended sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.01280.
Major Support Level: $0.01307
Major Resistance Level: $0.01373
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
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Thanks, Bob
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.