Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 14th, 2020

Litecoin

Litecoin fell by 1.65% on Sunday. Reversing a 0.55% gain from Saturday, Litecoin ended the week up by 0.50% to $48.18.

A mixed start to the day saw Litecoin rise an early morning intraday high $51.05 before hitting reverse.

Litecoin broke through the first major resistance level at $49.77 and the second major resistance level at $50.57.

The reversal saw Litecoin slide through the first major support level at $47.81 to a late afternoon intraday low $47.31.

Finding support late in the day, however, Litecoin moved back through to $48 levels to limit the downside.

At the time of writing, Litecoin was up by 0.15% to $48.25. A mixed start to the day saw Litecoin slide to an early morning low $47.15 before rising to a high $48.30.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move to through the pivot level a $48.85 to support a run at the first major resistance level at $50.38.

Support from the broader market would be needed, however, for Litecoin to break back through to $50 levels.

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

Failure to move to through the pivot level a $48.85 would bring the first major support level at $46.64 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$47 levels.

Looking at the Technical Indicators

First Major Support Level: $46.64

First Major Resistance Level: $50.38

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen slid by 4.52% on Sunday. Reversing a 0.11% gain from Saturday, Stellar’s Lumen ended the day at $0.080051.

It was a bullish start to the day. Stellar’s Lumen rose to a mid-morning intraday high $0.08455 before hitting reverse.

Falling short of the first major resistance level at $0.08502, Stellar’s Lumen slid to a late intraday low $0.07911.

Stellar’s Lumen fell through the first major support level at $0.08248 and the second major support level at $0.08107.

Finding late support, Stellar’s Lumen moved back through to $0.080 levels to limit the downside.

At the time of writing, Stellar’s Lumen was up by 0.52% to $0.080469. It was a mixed start to the day. Stellar’s Lumen slid to an early morning low $0.07874 before rising to a high $0.080972.

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 $0.08124 pivot to support a run at the first major resistance level at $0.08337.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.083 levels.

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

Failure to move through the $0.08124 pivot would bring the first major support level at $0.07792 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.07580.

Looking at the Technical Indicators

First Major Support Level: $0.07792

First Major Resistance Level: $0.08337

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX slid by 6.13% on Sunday. Following on from a 2.39% loss on Saturday, Tron’s TRX ended the week down by 2.54% to $0.03069.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.03295 before hitting reverse.

Falling short of the first major resistance level at $0.03359, Tron’s TRX slid to a late afternoon intraday low $0.02935.

Tron’s TRX fell through the day’s major support levels and the 23.6% FIB of $0.0291 in the sell-off.

Finding late support, however, Tron’s TRX moved back through the 23.6% FIB and the third major support level at $0.02965.

At the time of writing, Tron’s TRX was down by 0.94% to $0.03041. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.03071 to an early morning low $0.02999.

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 $0.03107 pivot level to support a run at the first major resistance level at $0.03283.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.032 levels.

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

Failure to move through the $0.03107 pivot level would bring the first major support level at $0.02894 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of sub-$0.028 levels. The second major support level sits at $0.02718.

Looking at the Technical Indicators

First Major Support Level: $0.02894

First Major Resistance Level: $0.03283

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob