Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 23rd, 2020

Litecoin

Litecoin rose by 3.12% on Monday. Reversing a 1.38% loss from Sunday, Litecoin ended the day at $44.30.

A bullish start to the day saw Litecoin rise from an early morning intraday low $42.91 to a mid-morning high $43.93.

Litecoin broke through the first major resistance level at $43.55 before easing back to sub-$43.50 levels.

Finding support from the broader market, however, Litecoin rallied to a late intraday high $44.66 before easing back.

Breaking back through the first major resistance level, Litecoin broke through the second major resistance level at $44.15.

In spite of easing back late in the day, Litecoin held above the second major resistance level to the day end.

At the time of writing, Litecoin was down by 0.52% to $44.07. A mixed start to the day saw Litecoin rise to an early morning high $44.45 before falling to a low $43.96

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 $43.96 pivot to support a run at the first major resistance level at $45.00.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $44.66.

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

Failure to avoid a fall through the $43.96 pivot could see Litecoin struggle on the day.

A fall back through to sub-$44 levels would bring the first major support level at $43.25 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of sub-$43 and the second major support level at $42.21.

Looking at the Technical Indicators

Major Support Level: $43.25

Major Resistance Level: $45.00

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rallied by 4.14% on Monday. Reversing a 1.90% loss from Sunday, Stellar’s Lumen ended the day at $0.071908.

It was a bullish day for Stellar’s Lumen. Stellar’s Lumen rallied from an early morning intraday low 0.069048 to a late intraday high $0.072149.

Avoiding the major support levels, Stellar’s Lumen broke through the first major resistance level at $0.06971 and the second major resistance level at $0.07083.

Coming up short of the third major resistance level at $0.07250, Stellar’s Lumen slipped back to sub-$0.072 levels.

At the time of writing, Stellar’s Lumen was down by 1.26% to $0.071000. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.071935 to a low $0.071000.

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 $0.071 pivot to support a run at the first major resistance level at $0.07310.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.07226.

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

Failure to avoid the $0.071 pivot could see Stellar’s Lumen struggle throughout the day.

A fall through to sub-$0.071 levels would the first major support level at $0.06988 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06786.

Looking at the Technical Indicators

Major Support Level: $0.06988

Major Resistance Level: $0.07310

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 rallied by 3.37% on Monday. Reversing a 0.76% decline from Sunday, Tron’s TRX ended the day at $0.016386.

A bullish start to the day saw Tron’s rise from an early intraday low $0.015851 to an early afternoon high $0.016387.

Tron’s TRX broke through the day’s major resistance levels before easing back to an afternoon low $0.016164.

The pullback saw Tron’s TRX fall back through the third major resistance level at $0.01625 before resuming the breakout.

Finding support from the broader market, Tron’s TRX rallied to a late intraday high $0.016469.

Tron’s TRX broke back through and held above the third major resistance level at $0.01625 to the day end.

At the time of writing, Tron’s TRX was down by 0.37% to $0.016326. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.016468 before falling to a low $0.016274.

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 $0.01625 pivot to support a run at the first major resistance level at $0.01662.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.016469.

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

In the event of another breakout, the second major resistance level at $0.01684 and $0.017 levels would come into play.

Failure to avoid the $0.01625 pivot would bring the first major support level at $0.01600 into play.

In the event of an extended crypto sell-off, Tron’s TRX would likely test the second major support level at $0.01562 before any recovery.

Looking at the Technical Indicators

Major Support Level: $0.01600

Major Resistance Level: $0.01662

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