Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 25th, 2020

Litecoin

Litecoin rose by 2.36% on Monday. Following on from a 0.53% gain on Sunday, Litecoin ended the day at $62.04.

It was a mixed start to the day. Litecoin fell to an early morning intraday low $60.03 before making a move.

Steering clear of the first major support level at $58.58, Litecoin rallied to a late afternoon intraday high $62.99.

Litecoin broke through the first major resistance level at $62.11 before falling back to sub-$61.60 levels.

Finding late support, however, Litecoin broke back through the first major resistance level at $62.11 before easing back to $62.04.

At the time of writing, Litecoin was down by 0.31% to $61.85. A mixed start to the day saw Litecoin rise to an early morning high $62.32 before falling to a low $61.65.

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

For the day ahead

Litecoin would need to avoid a fall through the $61.69 pivot to support a run at the first major resistance level at $63.34.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $62.99.

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

Failure to avoid a fall through the $61.69 pivot would bring the first major support level at $60.38 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $58.73.

Looking at the Technical Indicators

First Major Support Level: $60.38

First Major Resistance Level: $63.34

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 0.14% on Monday. Following on from a 0.60% gain on Sunday, Stellar’s Lumen ended the day at $0.103023.

It was a bearish start to the day. Stellar’s Lumen fell to an early morning intraday low $0.1010 before making a move.

Steering clear of the first major support level at $0.09985 and 23.6% FIB of $0.09280, Stellar’s Lumen rallied to a late morning intraday high $0.1065.

Stellar’s Lumen broke through the first major resistance level at $0.10455 before sliding to $0.1023 levels and into the red.

Finding late support, however, Stellar’s Lumen recovered to $0.1030 levels to end the day in the green.

At the time of writing, Stellar’s Lumen was down by 0.90% to $0.10209. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.10316 before falling to a low $0.10164.

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

For the day ahead

Stellar’s Lumen would need to move through the $0.10351 pivot to support a run at the first major resistance level at $0.10602.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.1060 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.1065 would like cap any upside.

Failure to move through the $0.10351 pivot would bring the first major support level at $0.10052 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.09801. The 23.6% FIB of $0.09960 should limit any downside on the day.

Looking at the Technical Indicators

First Major Support Level: $0.10052

First Major Resistance Level: $0.10602

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 3.34% on Monday. Reversing a 3.52% slide from Sunday, Tron’s TRX ended the day at $0.02517.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.023816 before finding support.

Steering clear of the first major support level at $0.02344, Tron’s TRX rallied to a mid-day intraday high $0.025772.

Tron’s TRX broke through the first major resistance level at $0.02531 before falling back to $0.0247 levels.

Finding late support, however, Tron’s TRX moved back through to $0.025 levels to end the day in the green.

At the time of writing, Tron’s TRX was down by 1.07% to $0.024901. A mixed start to the day saw Tron’s TRX rise an early morning high $0.025309 before falling to a low $0.024881.

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 $0.02492 pivot level to support a run at the first major resistance level at $0.02602.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.025772.

Barring an extended crypto rebound, the first major resistance level and Monday’s high would likely cap any upside.

Failure to move through the pivot level at $0.02492 would bring the first major support level at $0.02407 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should continue to steer clear of sub-$0.023 levels. The second major support level sits at $0.02296.

Looking at the Technical Indicators

First Major Support Level: $0.02407

First Major Resistance Level: $0.02602

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