Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 2nd, 2020

Litecoin

Litecoin rose by 1.55% on Wednesday. Partially reversing a 1.70% slide from Tuesday, Litecoin ended the day at $41.80.

A bearish start to the day saw Litecoin fall to an early morning afternoon intraday low $40.96 before making a move.

Steering clear of the first major support level at $40.58, Litecoin rallied to a late afternoon intraday high $42.02.

Litecoin broke through the first major resistance level at $41.91 before falling back to sub-$41.60 levels.

Finding late support, Litecoin revisited $42 levels before easing back. The first major resistance level capped the upside on the day.

At the time of writing, Litecoin was down by 0.26% to $41.69. A mixed start to the day saw Litecoin rise to an early morning high $41.91 before falling to a low $41.66.

Litecoin left the major support and resistance levels untested early in the day.

For the day ahead

Litecoin would need to avoid a fall through the $41.60 pivot to support a run at the first major resistance level at $42.23.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $42.02.

Barring another crypto rally, the first major resistance level and Wednesday’s high $42.02 would likely cap any upside.

Failure to avoid a fall through the $41.60 pivot could see Litecoin struggle on the day.

A fall back through to sub-$41.50 levels would bring the first major support level at $41.17 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.53 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $41.17

Major Resistance Level: $42.23

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 1.96% on Wednesday. Following on from a 2.85% rally on Tuesday, Stellar’s Lumen ended the day at $0.068009.

A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.066166.

Steering clear of the first major support level at $0.06518, Stellar’s Lumen rallied to a late afternoon intraday high $0.069447.

Stellar’s Lumen broke through the first major resistance level at $0.06816 and the second major resistance level at $0.06816.

A late pullback saw Stellar’s Lumen fall back to sub-$0.068 levels before recovering to $0.068 levels. The first major resistance level at $0.06816 capped the upside late in the day.

At the time of writing, Stellar’s Lumen was up by 2.50% to $0.069707. A bullish start to the day saw Stellar’s Lumen rally from an early morning low $0.069377 to a high $0.069707.

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 $0.06790 pivot to support a run at the first major resistance level at $0.06958.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.069707.

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

A fall through the $0.06790 pivot could see Stellar’s Lumen struggle throughout the day.

A pullback through to sub-$0.067 levels would bring the first major support level at $0.06630 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06459.

Looking at the Technical Indicators

Major Support Level: $0.06630

Major Resistance Level: $0.06958

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rallied by 3% on Wednesday. Following on from a 1.17% gain on Tuesday, Tron’s TRX ended the day at $0.016845.

A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.016241 before making a move.

Steering clear of the first major support level at $0.01620, Tron’s TRX rallied to a late afternoon intraday high $0.017036.

Tron’s TRX broke through the first major resistance level at $0.01662 and the second major resistance level at $0.01684.

A late pullback saw Tron’s TRX fall back to sub-$0.01680 levels before revisiting $0.01695 levels.

The second major resistance level at $0.01684 pinned Tron’s TRX back late in the day.

At the time of writing, Tron’s TRX was up by 1.32% to $0.017068. A bullish start to the day saw Tron’s TRX rise from an early morning low 0.016901 to a high $0.017136.

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 through the $0.01670 pivot to support a run at the first major resistance level at $0.01717.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.017136.

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

Failure to avoid a fall through the $0.01670 pivot would bring the first major support level at $0.01638 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.016 levels. The second major support level sits at $0.01591.

Looking at the Technical Indicators

Major Support Level: $0.01638

Major Resistance Level: $0.01717

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