Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 3rd, 2020

Litecoin

Litecoin slid by 7.35% on Wednesday. Reversing a 2.92% gain from Tuesday, Litecoin ended the day at $58.10.

A mixed start to the day saw Litecoin rise to an early morning intraday high $63.18 before hitting reverse.

Falling short of the first major resistance level at $64.80, Litecoin slid to a late morning intraday low $56.77.

Litecoin fell through the first major support level at $60.19 and the second major support level at $57.68.

Finding late morning support, Litecoin revisited $58 levels before sliding back to sub-$57 levels.

Late in the day, however, Litecoin broke back through the second major support level to end the at $58 levels.

At the time of writing, Litecoin was up by 0.21% to $58.22. A mixed start to the day saw Litecoin fall to an early morning low $57.79 before rising to a high $58.49.

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

For the day ahead

Litecoin would need to move through the $59.35 pivot to support a run at the first major resistance level at $61.93.

Support from the broader market would be needed, however, for Litecoin to break back through to $61 levels.

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

Failure to move through the $59.35 pivot would bring the first major support level at $55.52 into play.

Barring another extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $52.94.

Looking at the Technical Indicators

First Major Support Level: $55.52

First Major Resistance Level: $61.93

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 6.50% on Wednesday. Reversing a 2.15% gain from Tuesday, Stellar’s Lumen ended the day at $0.092403.

It was a bullish start to the day. Stellar’s Lumen rose to an early morning intraday high $0.0998 before hitting reverse.

Falling short of the first major resistance level at $0.10157, Stellar’s Lumen slid to a late morning intraday low $0.0900.

Stellar’s Lumen fell through the first major support level at $0.09583 and the second major support level at $0.09284. The sell-off also saw Stellar’s Lumen fall through the 23.6% FIB of $0.0928.

Tracking the broader market, Stellar’s Lumen briefly revisited $0.0937 levels before sliding back through to a low $0.09001.

Stellar’s Lumen fell back through the second major support level and 23.6% FIB before finding late support.

While moving back through to $0.092 levels, the second major support level at $0.09284 and 23.6% FIB pinned back a recovery.

At the time of writing, Stellar’s Lumen was up by 0.18% to $0.092572. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.091942 before rising to a high $0.092939.

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 23.6% FIB of $0.09280 and the $0.09407 pivot to support a run at the first major resistance level at $0.09814.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.095 levels.

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

Failure to move through the $0.09407 pivot would bring the first major support level at $0.08834 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.08427.

Looking at the Technical Indicators

First Major Support Level: $0.08834

First Major Resistance Level: $0.09814

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 fell by 0.43% on Wednesday. Following Tuesday’s 19.05% surge, Tron’s TRX ended the day at $0.034537.

A mixed start to the day saw Tron’s TRX rise to an early morning high $0.037366 before hitting reverse.

Falling short of the major resistance levels, Tron’s TRX slid to a late morning intraday low $0.031123.

Steering clear of the first major support level at $0.02977, Tron’s TRX rallied to an early afternoon intraday high $0.038485.

Tron’s TRX broke through the first major resistance level at $0.03784 before falling back to $0.032 levels.

Steering clear of the first major support level at $0.02977, Tron’s TRX moved back through to $0.035 levels before easing back into the red.

At the time of writing, Tron’s TRX was up by 4.10% to $0.035953. A bullish start to the day saw Tron’s TRX rally from an early morning low $0.033988 to a high $0.036646.

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 $0.03472 pivot level to support a run at the first major resistance level at $0.03831.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Wednesday’s high $0.038485.

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

Failure to avoid a fall through the $0.03472 pivot level would bring the first major support level at $0.03095 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of sub-$0.030 levels. The second major support level sits at $0.02735.

Looking at the Technical Indicators

First Major Support Level: $0.03095

First Major Resistance Level: $0.03831

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