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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 30th, 2020

By:
Bob Mason
Updated: Jun 30, 2020, 07:18 UTC

It's a mixed start to the day for the majors. A fall through the day's pivot levels will bring support levels into play.

Bitcoin and Litecoin over dollar banknotes.

Litecoin

Litecoin rose by 1.28% on Monday. Following on from a 0.71% gain on Sunday, Litecoin ended the day at $41.87.

It was a mixed start to the day. Litecoin rose to an early morning high $41.53 before sliding to a late morning intraday low $40.57.

Coming within range of the first major support level at $40.47, Litecoin rallied to a late intraday high $42.24.

Litecoin broke through the first major resistance level at $42.11 before easing back to sub-$42 levels.

At the time of writing, Litecoin was down by 0.05% to $41.85. A mixed start to the day saw Litecoin rise to an early morning high $41.99 before falling to a low $41.78.

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

LTC/USD 30/06/20 Daily Chart

For the day ahead

Litecoin would need to avoid a fall through the $41.56 pivot to support a run at the first major resistance level at $42.55.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $42.24.

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

Failure to avoid a fall through the $41.56 pivot could see Litecoin struggle on the day.

A fall through to sub-$41 levels would bring the first major support level at $40.88 into play.

Barring an extended crypto sell-off, Litecoin should steer clear of the second major support level at $39.89.

Looking at the Technical Indicators

Major Support Level: $40.88

Major Resistance Level: $42.55

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 0.69% on Monday. Following on from a 2.39% rally on Sunday, Stellar’s Lumen ended the day at $0.06478.

Tracking the broader market, Stellar’s Lumen rose to an early morning high $0.06494 before hitting reverse.

Falling short of the major resistance levels, Stellar’s Lumen fell to a late morning intraday low $0.06300.

Steering clear of the first major support level at $0.06226, Stellar’s Lumen rallied to a late intraday high $0.065420.

Stellar’s Lumen came within range of the first major resistance level at $0.06544 before easing back to sub-$0.065 levels.

At the time of writing, Stellar’s Lumen was down by 0.22% to $0.064938. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.065175 before sliding to a low $0.064882.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 30/06/20 Daily Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.06440 pivot to support a run at the first major resistance level at $0.06580.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.065420.

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

Failure to avoid a fall through the $0.06440 pivot could see Stellar’s Lumen struggle throughout the day.

A fall back through to sub-$0.064 levels would bring the first major support level at $0.06338 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.060 levels. The second major support level at $0.06198 should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.06338

Major Resistance Level: $0.06580

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 2.52% on Monday. Following on from a 1.94% gain on Sunday, Tron’s TRX ended the day at $0.01619.

Bullish throughout the day, Tron’s TRX rallied from an early morning intraday low $0.015786 to a late intraday high $0.016380.

Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.01602.

Coming up against the second major resistance level at $0.01631, Tron’s TRX eased back to sub-$0.01620 levels.

At the time of writing, Tron’s TRX was up by 0.19% to $0.016220. A relatively bullish start to the day saw Tron’s TRX rise from an end of Sunday $0.01619 to an early high $0.01622

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 30/06/20 Daily Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01612 pivot to support a run at the first major resistance level at $0.01645.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.01638.

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

Failure to avoid a fall through the $0.01612 pivot would bring the first major support level at $0.01586 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.015 levels. The second major support level at $0.01552 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01586

Major Resistance Level: $0.01645

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

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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