Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 16th, 2020

Litecoin

Litecoin fell by 1.59% on Tuesday. Partially reversing a 1.93% gain from Monday, Litecoin ended the day at $48.32.

A mixed start to the day saw Litecoin rise to an early morning intraday high $50.33 before hitting reverse.

Litecoin broke through the first major resistance level at $50.14 before sliding to a final hour intraday low $48.14.

Steering clear of the first major support level at $47.63, Litecoin wrapped up the day at $48.30 levels.

At the time of writing, Litecoin was down by 1.95% to $47.38. A bearish start to the day saw Litecoin fall from an early morning high $48.33 to a low $47.00.

Litecoin fell through the first major support level at $47.53 early on.

For the day ahead

Litecoin would need to move through the first major support level and the pivot level a $48.93 to support a run at the first major resistance level at $49.72.

Support from the broader market would be needed, however, for Litecoin to break back through to $48 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $50 would likely cap any upside.

Failure to move through the first major support level would bring the second major support level at $46.74 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$45 levels. The third major support level sits at $44.55.

Looking at the Technical Indicators

First Major Support Level: $47.53

First Major Resistance Level: $49.72

23.6% FIB Retracement Level: $

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen fell by 2.93% on Tuesday. Reversing a 0.26% gain from Monday, Stellar’s Lumen ended the day at $0.077826.

It was a choppy start to the day. Stellar’s Lumen fell to a late morning low $0.079155 before making a move.

Steering clear of the first major support level at $0.07861, Stellar’s Lumen struck a mid-day intraday high $0.081532.

Falling short of the first major resistance level at $0.08188, Stellar’s Lumen slid to a late intraday low $0.07751.

Stellar’s Lumen fell through the first major support level at $0.07861 before steadying. In spite of finding late support, Stellar’s Lumen failed to break back through the first major support level.

At the time of writing, Stellar’s Lumen was down by 2.38% to $0.075976. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.07784 to a low $0.07533.

Stellar’s Lumen fell through the first major support level at $0.07638 early on.

For the day ahead

Stellar’s Lumen would need to move through the first major support level and the $0.07896 pivot to support a run at the first major resistance level at $0.08040.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.0780 levels.

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

Failure to move through the first major support level would bring the second major support level at $0.07493 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of sub-$0.074 levels. The third major support level sits at $0.07091.

Looking at the Technical Indicators

First Major Support Level: $0.07638

First Major Resistance Level: $0.08040

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 7.84% on Tuesday. Following on from a 0.58% loss on Monday, Tron’s TRX ended the day at $0.2793. Tuesday’s loss marked a 4^th consecutive day in the red for Tron’s TRX.

It was a bearish day. Tron’s TRX slid from an early morning intraday high $0.030515 to a final hour intraday low $0.027425.

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

Finding support in the final hour, Tron’s TRX moved back through the third major support level at $0.02768.

It was the first time since 5^th September, however, that Tron’s TRX failed to close out at $0.03 levels.

At the time of writing, Tron’s TRX was down by 2.84% to $0.02714. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.02785 to a low $0.02679.

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 $0.02863 pivot level to support a run at the first major resistance level at $0.02982.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 23.6% FIB of $0.0291.

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

Failure to move through the $0.02863 pivot level would bring the first major support level at $0.02674 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of sub-$0.025 levels. The second major support level at $0.02554 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02674

First Major Resistance Level: $0.02982

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