Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 6th, 2020

Litecoin

Litecoin fell by 1.31% on Sunday. Reversing a 0.22% gain from Saturday, Litecoin ended the week up by 0.60% to $41.59.

A mixed start to the day saw Litecoin rise to an early morning intraday high $42.22 before hitting reverse.

Litecoin broke through the first major resistance level at $42.55 before hitting reverse.

The reversal saw Litecoin slide to a late intraday low $40.75.

Litecoin fell through the first major support level at $41.08 before recovering to $41.5 levels.

At the time of writing, Litecoin was up by 0.46% to $41.78. A mixed start to the day saw Litecoin fall to an early morning low $41.53 before rising to a high $41.82.

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 $41.5 pivot to support a run at the first major resistance level at $42.29.

Support from the broader market would be needed, however, for Litecoin to break back through to $42 levels.

Barring another crypto rally, the first major resistance level and Sunday’s high $42.22 would likely cap any upside.

Failure to avoid a fall through the $41.15 pivot would bring the first major support level at $40.82 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.05 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $40.82

Major Resistance Level: $42.29

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 0.95% on Sunday. Reversing a 0.61% gain from Saturday, Stellar’s Lumen ended the week up by 4.40% to $0.067170.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.067813 before taking a hit.

Coming up short of the first major resistance level at $0.06860, Stellar’s Lumen fell to a late intraday low $0.065227.

Stellar’s Lumen fell through the first major support level at $0.06684 and the second major support level at $0.06588.

Finding late support, Stellar’s Lumen move back through the major support levels to wrap up the week at $0.067 levels.

At the time of writing, Stellar’s Lumen was down by 0.12% to $0.067092. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.067239 to a low $0.067092.

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 $0.06675 pivot to support a run at the first major resistance level at $0.06824.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Sunday’s high $0.067813.

Barring another broad-based crypto rally, the first major resistance level and Sunday’s high would likely limit any upside.

Failure to avoid a fall through the $0.06675 pivot could see Stellar’s Lumen struggle throughout the day.

A pullback through to sub-$0.066 levels would bring the first major support level at $0.06565 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06415.

Looking at the Technical Indicators

Major Support Level: $0.06565

Major Resistance Level: $0.06824

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 rose by 0.79% on Sunday. Following on from a 1.06% gain on Saturday, Tron’s TRX ended the week up by 7.56% to $0.016983.

Tracking the broader market, Tron’s TRX rose to an early morning high $0.016850 before hitting reverse.

Falling short of the first major resistance level at $0.01694, Tron’s TRX slid to a late morning intraday low $0.016355.

Tron’s TRX fell through the first major support level at $0.01661 and the second major support level at $0.01643.

A choppy 2^nd half of the day saw Tron’s TRX fall back from $0.0166 levels to sub-$0.0164 levels before a late rebound. The rebound saw Tron’s TRX strike an intraday high $0.017001 before easing back.

Tron’s TRX broke through the first major resistance level at $0.01694 in the final hour.

At the time of writing, Tron’s TRX was up by 3.87% to $0.017639. A particularly bullish start to the day saw Tron’s TRX rally from an early morning low $0.016980 to a high $0.017649.

Tron’s TRX broke through the first major resistance level at $0.01720 and the second major resistance level at $0.01743 early on.

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the second major resistance to support a run at the third major resistance level at $0.01807.

Support from the broader market would be needed, however, for Tron’s TRX to break through to $0.018 levels.

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

Failure to avoid a fall through the second major resistance level would bring sub-$0.017 levels back into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of the first major support level at $0.01656.

Looking at the Technical Indicators

Major Support Level: $0.01656

Major Resistance Level: $0.01720

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