Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 1st, 2020

Litecoin

Litecoin slid by 3.13% on Monday. Partially reversing a 10.37% rally from Sunday, Litecoin ended the month up by 4.65% to $60.93.

A mixed start to the day saw Litecoin strike an early morning intraday high $63.73 before hitting reverse.

Falling short of the first major resistance level at $64.91, Litecoin slid to a late intraday low $60.59.

In spite of the reversal, Litecoin steered clear of the first major support level at $58.91 on the day.

At the time of writing, Litecoin was down by 0.16% to $60.83. A mixed start to the day saw Litecoin rise to an early morning high $61.14 before falling to a low $60.34.

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

For the day ahead

Litecoin would need to move through the $61.75 pivot to support a run at the first major resistance level at $62.91.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $61.14.

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

Failure to move through the $61.75 pivot would bring the first major support level at $59.77 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $58.61.

Looking at the Technical Indicators

First Major Support Level: $59.77

First Major Resistance Level: $62.91

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Stellar’s Lumen

Stellar’s Lumen fell by 1.49% on Monday. Partially reversing a 2.01% gain from Sunday, Stellar’s Lumen ended the month down by 0.48% to $0.096744.

It was a bullish start to the day. Stellar’s Lumen rose to an early morning intraday high $0.098881 before hitting reverse.

Falling short of the first major resistance level at $0.09901, Stellar’s Lumen fell to a late morning intraday low $0.09510.

Stellar’s Lumen fell through the first major support level at $0.09678 and the second major support level at $0.09535.

Finding late morning support, Stellar’s Lumen revisited $0.0979 levels before easing back to sub-$0.097.

At the time of writing, Stellar’s Lumen was down by 0.19% to $0.096557. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.096889 before falling to a low $0.095585.

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 $0.09691 pivot to support a run at the first major resistance level at $0.09872.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.098 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.098881 would like cap any upside.

Failure to move through the $0.09691 pivot would bring the first major support level at $0.09494 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.090 levels. The second major support level at $0.09313 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.09494

First Major Resistance Level: $0.9872

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 rallied by 8.14% on Monday. Following on from an 8.65% rally on Sunday, Tron’s TRX ended the month up by 48.57% to $0.029254.

A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02755 before hitting reverse.

Falling short of the major resistance levels, Tron’s TRX slid to a mid-morning intraday low $0.02573 before making a move.

Steering clear of the first major support level at $0.02518, Tron’s TRX rallied to a late intraday high $0.029916.

Tron’s TRX broke through the first major resistance level at $0.02861 to wrap up the day at $0.029 levels.

At the time of writing, Tron’s TRX was up by 2.17% to $0.02989. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.027982 before striking a high $0.03028.

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 $0.02830 pivot level to support a run at the first major resistance level at $0.03087.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.030276.

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

Failure to avoid a fall through the $0.02830 pivot level would bring the first major support level at $0.02668 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of the second major support level at $0.02412.

Looking at the Technical Indicators

First Major Support Level: $0.02668

First Major Resistance Level: $0.03087

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