Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 9th, 2020

Litecoin

Litecoin fell by 2.82% on Tuesday. Reversing a 1.90% gain from Monday, Litecoin ended the day at $47.49.

A mixed start to the day saw Litecoin rise to an early morning intraday high $49.36 before hitting reverse.

Falling short of the first major resistance level at $50.24, Litecoin fell to a late intraday low $46.00.

Litecoin fell through the first major support level at $46.36 before wrapping up the day at $47 levels.

At the time of writing, Litecoin was down by 0.32% to $47.34. A mixed start to the day saw Litecoin fall to an early morning low $47.13 before striking a high $47.79.

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

For the day ahead

Litecoin would need to move through the $47.62 pivot to support a run at the first major resistance level at $49.23.

Support from the broader market would be needed, however, for Litecoin to break back through to $49 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $49.36 would likely cap any upside.

Failure to move through the $47.62 pivot would bring the first major support level at $45.87 into play.

Barring an extended crypto sell-off, however, Litecoin should steer well clear of the second major support level at $44.26.

Looking at the Technical Indicators

First Major Support Level: $45.87

First Major Resistance Level: $49.23

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 1.77% on Tuesday. Reversing a 1.67% gain from Monday, Stellar’s Lumen ended the day at $0.077385.

A bullish start to the day saw Stellar’s Lumen rise to a mid-morning intraday high $0.079536 before hitting reverse.

Falling short of the first major resistance level at $0.08054, Stellar’s Lumen slid to a late intraday low $0.075041.

Stellar’s Lumen fell through the first major support level at $0.07531 before wrapping up the day at $0.077 levels.

At the time of writing, Stellar’s Lumen was down by 0.71% to $0.076838. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.077299 before falling to a low $0.076517.

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 $0.07732 pivot to support a run at the first major resistance level at $0.07960.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.079536.

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

Failure to move through the $0.07732 pivot would bring the first major support level at $0.07511 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.07283.

Looking at the Technical Indicators

First Major Support Level: $0.07511

First Major Resistance Level: $0.07960

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 8.15% on Tuesday. Following on from a 3.14% gain on Monday, Tron’s TRX ended the day at $0.035130.

It was a mixed start to the day. Tron’s TRX fell to an early morning intraday low $0.03155 before making a move.

Steering clear of the first major support level at $0.02959, Tron’s TRX rallied to a late afternoon intraday high $0.03555.

Tron’s TRX broke through the first major resistance level at $0.03404 to wrap up the day at $0.035 levels. The second major resistance level at $0.03560 capped the upside on the day.

At the time of writing, Tron’s TRX was up by 0.45% to $0.035288. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.03459 before rising to a high $0.03594.

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 $0.03408 pivot level to support a run at the first major resistance level at $0.03660.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.036 levels.

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

Failure to avoid a fall through the $0.03408 pivot level would bring the first major support level at $0.03260 into play.

Barring an extended crypto sell-off, however, Tron’s TRX would likely steer clear of $0.030 levels. The second major support level at $0.03008 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.03260

First Major Resistance Level: $0.03660

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