It's a bullish start to the day. Steering clear of early lows would support recovery of Sunday's losses.
Litecoin slid by 8.02% on Sunday. Reversing a 6.01% rally from Saturday, Litecoin ended the week up by 17.95% to $56.77.
It was a mixed start to the day. Litecoin rallied to an early morning intraday high $65.31 before hitting reverse.
Litecoin broke through the first major resistance level at $63.51 before tumbling to an early morning intraday low $52.70.
The second major resistance level at $65.29 capped the upside in the early morning.
Litecoin fell through the first major support level at $58.79 and the second major support level at $55.85.
Avoiding sub-$55 support levels, Litecoin briefly revisited $59 levels before falling back through the first and second major support levels.
A late move back through the second major support level reduced the deficit on the day.
At the time of writing, Litecoin was up by 0.93% to $57.30. A mixed start to the day saw Litecoin fall to an early morning low $55.72 before striking a high $57.60.
Litecoin left the major support and resistance levels untested early in the day.
Litecoin would need to move through the $58.26 pivot to support a run at the first major resistance level at $63.82.
Support from the broader market would be needed, however, for Litecoin to break back through to $60 levels.
Barring another crypto rally, the first major resistance level would likely cap any upside.
Failure to move through the $58.26 pivot would bring the 23.6% FIB of $54 and the first major support level at $51.21 into play.
Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$50 levels. The second major support level sits at $45.65.
First Major Support Level: $51.21
First Major Resistance Level: $63.82
23.6% FIB Retracement Level: $54
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen slid by 4.85% on Sunday. Partially reversing a 10.76% rally from Saturday, Stellar’s Lumen ended the week up by 3.29% to $0.10265.
A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.11585 before hitting reverse.
Stellar’s Lumen broke through the first major resistance level at $0.11191 before sliding to an early morning intraday low $0.090025.
The reversal saw Stellar’s Lumen fall through the first major support level at $0.10029 and the second major support level at $0.092920 and 23.6% FIB of $0.0928.
Finding support, Stellar’s Lumen briefly revisited $0.1075 levels before falling back through the first major support level to sub-$0.10 levels.
Finding late support, however, Stellar’s Lumen moved back through the first major support level to reduce the deficit.
At the time of writing, Stellar’s Lumen was up by 2.21% to $0.10492. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.10199 before striking a high $0.10573.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid a fall back through the $0.10284 pivot to support a run at the first major resistance level at $0.11566.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.11 levels.
Barring a broad-based crypto rally, the first major resistance level would likely limit any upside.
Failure to avoid a fall back through the $0.0.10284 pivot would bring the first major support level at $0.08983 into play.
Barring another extended crypto sell-off, however, Stellar’s Lumen should steer of sub-$0.090 levels on the day.
The 23.6% FIB of $0.09280 should limit any downside on the day.
First Major Support Level: $0.08983
First Major Resistance Level: $0.11566
23.6% FIB Retracement Level: $0.09960
38% FIB Retracement Level: $0.14336518
62% FIB Retracement Level: $0.2050
Tron’s TRX slid by 7.24% on Sunday. Reversing a 3.92% gain from Saturday, Tron’s TRX ended the week up by 2.29% to $0.019013.
Tracking the broader market, Tron’s TRX rallied to an early morning intraday high $0.021237 before hitting reverse.
Coming up against the first major resistance level at $0.02101, Tron’s TRX tumbled to an early intraday low $0.017800.
Tron’s TRX fell through the first major support level at $0.01969 and the second major support level at $0.01892.
Steering clear of the third major support level at $0.01760, Tron’s TRX revisited $0.01960 levels before sliding back.
The first major support level pinned Tron’s TRX back.
At the time of writing, Tron’s TRX was up by 1.90% to $0.019375. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.018847 before rising to a high $0.019375.
Tron’s TRX left the major support and resistance levels untested early on.
Tron’s TRX would need to avoid a fall back through the $0.01935 pivot level to support a run at the first major resistance level at $0.02090.
Support from the broader market would be needed, however, for Tron’s TRX to break out back through to $0.020 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall back through the $0.01935 pivot level would bring the first major support level at $0.01746 into play.
Barring another extended crypto sell-off, however, Tron’s TRX should avoid a return to sub-$0.018 levels on the day.
First Major Support Level: $0.01746
First Major Resistance Level: $0.02090
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.