Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 17th, 2020

Litecoin

Litecoin rallied by 6.64% on Sunday. Following on from a 5.38% gain from Saturday, Litecoin ended the week up by 12.18% to $63.91.

It was a mixed start to the day. Litecoin slipped to an early morning low $58.92 before rising to an early morning high $62.96.

Litecoin broke through the first major resistance level at $61.67 before sliding to a mid-day intraday low $57.64.

Steering clear of the first major support level at $57.35, Litecoin rallied to a final hour intraday high $64.64.

Litecoin broke back through the first major resistance level and broke through the second major resistance level at $63.44.

At the time of writing, Litecoin was down by 2.17% to $62.52 A mixed start to the day saw Litecoin rise an early morning high $64.13 before sliding to a low $61.42.

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

For the day ahead

Litecoin would need to avoid a fall back through the $62.06 pivot to support a run at the first major resistance level at $66.49.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $64.64.

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

A fall back through the $62.06 pivot would bring the first major support level at $59.49 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$55 levels. The second major support level at $55.06 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $59.49

First Major Resistance Level: $66.49

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rallied by 7.60% on Sunday. Following on from a 2.02% gain on Saturday, Stellar’s Lumen ended the week up by 9.41% to $0.11524.

A mixed start to the day saw Stellar’s Lumen fall from a mid-morning high $0.1089 to a mid-day intraday low $0.10375.

Steering clear of the first major support level at $0.10366, Stellar’s Lumen rallied to a final hour intraday high $0.11660.

Stellar’s Lumen broke through the first major resistance level at $0.10994 and the second major resistance level at $0.11282.

At the time of writing, Stellar’s Lumen was down by 2.03% to $0.112898. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.117186 before falling to a low $0.110899.

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

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.1119 pivot to support a run at the first major resistance level at $0.11998.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.117186.

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

A fall back through the $0.1119 pivot would bring the first major support level at $0.10713 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer of the second major support level at $0.09901.

Looking at the Technical Indicators

First Major Support Level: $0.10713

First Major Resistance Level: $0.11998

23.6% FIB Retracement Level: $0.09960

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rallied by 12.26% on Sunday. Following on from a 2.12% gain on Saturday, Tron’s TRX ended the week up by 38.31% to $0.028355.

A mixed start saw Tron’s TRX fall from a mid-morning high $0.02624 to a mid-day intraday low $0.023987.

Steering clear of the first major support level at $0.02360, Tron’s TRX rallied to a late intraday high $0.028606.

Tron’s TRX broke through the first major resistance level at $0.02651 and the second major resistance level at $0.02778.

At the time of writing, Tron’s TRX was down by 3.50% to $0.027362. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.028418 before falling to a low $0.026755.

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

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02698 pivot level to support a run at the first major resistance level at $0.2998.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Sunday’s high $0.028606.

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

A fall back through the pivot level at $0.02698 would bring the first major support level at $0.02536 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.02236.

Looking at the Technical Indicators

First Major Support Level: $0.02536

First Major Resistance Level: $0.02998

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