Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 27th, 2020

Litecoin

Litecoin fell by 0.45% on Wednesday. Following a 5.91% slide from Tuesday, Litecoin ended the day at $58.09.

It was a mixed start to the day. Litecoin rose to an early morning high $58.66 before hitting reverse.

Falling short of the first major resistance level at $61.59, Litecoin fell to a mid-morning intraday low $57.00.

Steering clear of the first major support level at $55.90, Litecoin rose to a late afternoon intraday high $59.13.

Continuing to fall short of the major resistance levels, Litecoin fell back to end the day at sub-$59 levels.

At the time of writing, Litecoin was up by 0.72% to $58.51. A mixed start to the day saw Litecoin fall to an early morning low $58.07 before rising to a high $58.70.

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

For the day ahead

Litecoin would need to avoid a fall through the $58.07 pivot to support a run at the first major resistance level at $59.15.

Support from the broader market would be needed, however, for Litecoin to break back through to $59 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $59.13 would likely cap any upside.

Failure to avoid a fall through the $58.07 pivot would bring the first major support level at $57.02 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $55.94.

Looking at the Technical Indicators

First Major Support Level: $57.02

First Major Resistance Level: $59.15

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen rose by 0.80% on Wednesday. Partially reversing a 5.58% slide from Tuesday, Stellar’s Lumen ended the day at $0.098051.

It was a mixed start to the day. Stellar’s Lumen fell to an early morning intraday low $0.096016 before making a move.

Steering clear of the first major support level at $0.09385, Stellar’s Lumen rallied to a late afternoon intraday high $0.100434.

Falling short of the first major resistance level at $0.10193, Stellar’s Lumen slipped to wrap up the day at sub-$0.10.

At the time of writing, Stellar’s Lumen was up by 0.66% to $0.09870. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.098152 to a high $0.098911.

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 through the $0.09817 pivot to support a run at the first major resistance level at $0.10032.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.10 levels.

Barring a broad-based crypto rally, the first major resistance level and Wedensday’s high $0.10043 would like cap any upside.

Failure to avoid a fall through the $0.09817 pivot would bring the first major support level at $0.09590 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.09375

Looking at the Technical Indicators

First Major Support Level: $0.09590

First Major Resistance Level: $0.10032

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX rose by 3.24% on Wednesday. Partially reversing an 8.54% tumble from Tuesday, Tron’s TRX ended the day at $0.023742.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.022735 before making a move.

Steering clear of the first major support level at $0.02156, Tron’s TRX rose to a late afternoon intraday high $0.024034.

Falling short of the first major resistance level at $0.02499, Tron’s TRX slipped back to sub-$0.024 levels.

At the time of writing, Tron’s TRX was up by 2.44% to $0.02432. A Bullish start to the day saw Tron’s TRX rally from an early morning low $0.023582 to a high $0.024464

Tron’s TRX broke through the first major resistance level at $0.02427 early on.

For the Day Ahead

Tron’s TRX would need to avoid a fall through the first major resistance level at $0.02427 to support a run at the second major resistance level at $0.02480.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.024464.

Barring an extended crypto rebound, the second major resistance level and would likely cap any upside.

Failure to avoid a fall through the first major resistance level at $0.02427 would bring sub-$0.024 levels into play.

Barring an extended crypto sell-off, however, Tron’s TRX  should avoid a fall through the pivot level at $0.02350. The first major support level sits at $0.02297.

Looking at the Technical Indicators

First Major Support Level: $0.02297

First Major Resistance Level: $0.02427

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob