Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 22nd, 2020

Litecoin

Litecoin fell by 1.38% on Sunday. Partially reversing a 1.80% gain from Saturday, Litecoin ended the week down by 2.27% to $42.96.

A bullish start to the day saw Litecoin rise to an early morning intraday high $43.82 before hitting reverse.

Falling short of the first major resistance level at $44.20, Litecoin slid to a late intraday low $42.90.

Steering clear of the first major support level at $42.56, Litecoin briefly revisited $43 levels before easing back.

At the time of writing, Litecoin was up by 0.30% to $43.09. A mixed start to the day saw Litecoin fall to an early morning low $42.91 before rising to a high $43.14.

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

For the day ahead

Litecoin would need to move through the $43.25 pivot to support a run at the first major resistance level at $43.55.

Support from the broader market would be needed, however, for Litecoin to break back through the morning high $43.14.

Barring broad-based crypto rebound, the first major resistance level and Sunday’s high $43.82 would likely cap any upside.

Failure to move through the $43.25 pivot could see Litecoin struggle on the day.

A fall back through the morning low $42.91 would bring the first major support level at $42.63 into play.

Barring another extended crypto sell-off, Litecoin should steer clear of sub-$42 levels. The second major support level sits at $42.31 should limit the downside.

Looking at the Technical Indicators

Major Support Level: $42.63

Major Resistance Level: $43.55

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 1.90% on Sunday. Following on from a 0.17% loss on Saturday, Stellar’s Lumen ended the week down by 2.93% to $0.06860.

It was a choppy day for Stellar’s Lumen. Stellar’s Lumen rose to an early morning intraday high $0.070271 before hitting reverse.

Coming up short of the first major resistance level at $0.070390, Stellar’s Lumen slid to an early afternoon low $0.069298.

Steering clear of the first major support level at $0.06856, Stellar’s Lumen recovered to $0.0696 levels before a late pull back.

The pullback saw Stellar’s Lumen fall to an intraday low $0.0686. Support at the first major support level at $0.06856 limited the downside at the day end.

At the time of writing, Stellar’s Lumen was up by 0.69% to $0.069070. A bullish start to the day saw Stellar’s Lumen rise from an end of Sunday $0.06860 to an early morning high $0.069070.

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 $0.06920 pivot to support a run at the first major resistance level at $0.06971.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.06950 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $0.070271 would likely limit any upside.

Failure to move through the $0.06920 pivot could see Stellar’s Lumen struggle throughout the day.

A fall through the morning low $0.069048 would the first major support level at $0.06804 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.067 levels. The second major support level at $0.06749 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.06804

Major Resistance Level: $0.06971

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.1433

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX fell by 0.76% on Sunday. Partially reversing a 1.19% gain from Saturday, Tron’s TRX ended the week down by 1.55% to $0.015831.

A bullish start to the day saw Tron’s rise to an early morning intraday $0.016033 before hitting reverse.

Coming up short of the first major resistance level at $0.01616, Tron’s TRX slid to a late intraday low $0.015825.

Steering clear of the first major support level at $0.01578, Tron’s TRX recovered to $0.01583 levels to limit the loss on the day.

At the time of writing, Tron’s TRX was up by 0.21% to $0.015864. A bullish start to the day saw Tron’s TRX rise from an end of Sunday $0.015831 to an early morning high $0.015864.

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 $0.01590 pivot to support a run at the first major resistance level at $0.01596.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.01590 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $0.016033 would likely cap any upside.

Failure to move through the $0.01590 pivot would bring the first major support level at $0.01578 into play.

In the event of an extended crypto sell-off, Tron’s TRX would likely test the second major support level at $0.01574 before any recovery.

Looking at the Technical Indicators

Major Support Level: $0.01578

Major Resistance Level: $0.01596

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