Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 24th, 2020

Litecoin

Litecoin fell by 0.45% on Tuesday. Partially reversing a 3.12% gain from Monday, Litecoin ended the day at $44.16.

A bearish start to the day saw Litecoin fall from an early morning high $44.45 to a mid-morning intraday low $43.88.

Steering clear of the first major support level at $43.25, Litecoin bounced back to an early afternoon intraday high $44.46.

Falling well short of the first major resistance level at $45.00, Litecoin fell back to sub-$44 levels. Finding support in the final hour, Litecoin recovered to $44 levels to limit the loss on the day.

At the time of writing, Litecoin was up by 0.11% to $44.21. A mixed start to the day saw Litecoin fall to an early morning low $44.12 before rising to a high $44.25.

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

For the day ahead

Litecoin would need to avoid a fall back through the $44.20 pivot to support a run at the first major resistance level at $44.45.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $44.25.

Barring another crypto rally, the first major resistance level and Tuesday’s high $44.46 would likely cap any upside.

Failure to avoid a fall back through the $44.20 pivot could see Litecoin struggle on the day.

A fall back through to sub-$44 levels would bring the first major support level at $43.87 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of sub-$43 levels. The second major support level at $43.59 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $43.87

Major Resistance Level: $44.45

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 1.13% on Tuesday. Partially reversing a 4.14% rally from Monday, Stellar’s Lumen ended the day at $0.071124.

It was a bearish day for Stellar’s Lumen. Stellar’s Lumen slid to a late morning intraday low $0.070281 before making a move.

Steering clear of the first major support level at $0.06988, Stellar’s Lumen rallied to an early afternoon intraday high $0.07260.

Falling short of the first major resistance level at $0.07310, Stellar’s Lumen slid back to a low $0.071059 before steadying.

At the time of writing, Stellar’s Lumen was up by 0.25% to $0.071289. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.070806 before striking a high $0.071687.

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 $0.07135 pivot to support a run at the first major resistance level at $0.07239.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.072 levels.

Barring another broad-based crypto rally, the first major resistance level and Tuesday’s high $0.07260 would likely limit any upside.

Failure to move through the $0.07135 pivot could see Stellar’s Lumen struggle throughout the day.

A fall back through to sub-$0.071 levels would the first major support level at $0.07007 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06902.

Looking at the Technical Indicators

Major Support Level: $0.07007

Major Resistance Level: $0.07239

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 rose by 0.54% on Tuesday. Following on from a 3.37% rally on Monday, Tron’s TRX ended the day at $0.016528.

A bearish start to the day saw Tron’s fall to a mid-morning intraday low $0.016224 before making a move.

Steering clear of the first major support level at $0.016000, Tron’s TRX rallied to a late intraday high $0.01680.

Tron’s TRX broke through the first major resistance level at $0.01662 before sliding back to sub-$0.0166 levels.

The second major resistance level at $0.01685 pinned Tron’s TRX back late in the day.

At the time of writing, Tron’s TRX was up by 0.10% to $0.016544. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.016522 before striking a high $0.016544.

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 $0.01650 pivot to support a run at the first major resistance level at $0.01681.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Tuesday’s high $0.01680.

Barring another broad-based crypto rally, the first major resistance level and Tuesday’s high $0.01680 would likely cap any upside.

In the event of another breakout, $0.017 levels and the second major resistance level at $0.01709 would come into play.

Failure to avoid the $0.01650 pivot would bring the first major support level at $0.01623 into play.

In the event of an extended crypto sell-off, Tron’s TRX would likely test the second major support level at $0.01594 before any recovery.

Looking at the Technical Indicators

Major Support Level: $0.01623

Major Resistance Level: $0.01681

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