Litecoin
Litecoin slid by 3.62% on Wednesday. Following on from a 0.45% decline on Tuesday, Litecoin ended the day at $42.56.
A bullish start to the day saw Litecoin rally to a mid-morning intraday high $44.60 before hitting reverse.
Litecoin broke through the first major resistance level at $44.45 before tumbling to a mid-afternoon intraday low $42.00.
The sell-off saw Litecoin fall through the major support levels of the day before steadying.
In spite of a partial recovery, however, Litecoin failed to break back through the third major support level at $43.01.
At the time of writing, Litecoin was up by 0.49% to $42.77. A mixed start to the day saw Litecoin fall to an early morning low $42.38 before striking a high $42.79.
Litecoin left the major support and resistance levels untested early in the day.
For the day ahead
Litecoin would need to move through the $43.0 pivot to support a run at the first major resistance level at $44.01.
Support from the broader market would be needed, however, for Litecoin to break back through to $44 levels.
Barring another crypto rally, the first major resistance level and Wednesday’s high $44.45 would likely cap any upside.
Failure to move through the $43.0 pivot could see Litecoin struggle on the day.
A fall back through Wednesday’s low $42.00 would bring the first major support level at $41.56 into play.
Barring another extended crypto sell-off, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.55 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $41.56
Major Resistance Level: $44.01
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen slid by 4.53% on Wednesday. Following on from a 1.13% decline on Tuesday, Stellar’s Lumen ended the day at $0.068936.
Tracking the broader market, Stellar’s Lumen struck an early morning intraday high $0.072724 before hitting reverse.
Stellar’s Lumen broke through the first major resistance level at $0.07239 before sliding to a mid-afternoon intraday low $0.068275.
The sell-off saw Stellar’s Lumen fall through the first major support level at $0.07007 and second major support level at $0.06902.
Late in the day, Stellar’s Lumen briefly broke back through the second major support level before sliding back.
At the time of writing, Stellar’s Lumen was down by 0.31% to $0.068723. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.068942 to a low $0.068618.
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 $0.070 pivot to support a run at the first major resistance level at $0.07168.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.071 levels.
Barring another broad-based crypto rally, the first major resistance level would likely limit any upside.
Failure to move through the $0.070 pivot could see Stellar’s Lumen struggle throughout the day.
A fall back through this morning low $0.068618 would the first major support level at $0.06723 into play.
Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.06553.
Looking at the Technical Indicators
Major Support Level: $0.06723
Major Resistance Level: $0.07168
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX
Tron’s TRX slid by 3.44% on Wednesday. Reversing a 0.54% gain from Tuesday, Tron’s TRX ended the day at $0.015959.
A bullish start to the day saw Tron’s rally to a mid-morning intraday low $0.016841 before hitting reverse.
Coming up against the first major resistance level at $0.01681, Tron’s TRX slid to an early afternoon intraday low $0.015704.
Tron’s TRX fell through the first major support level at $0.01623 and the second major support level at $0.01594.
Finding late support, Tron’s TRX briefly moved back through to $0.016 levels before easing back.
The second major support level at $0.01594 limited the downside late in the day.
At the time of writing, Tron’s TRX was down by 0.38% to $0.015899. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.015929 to a low $0.015899.
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 $0.01620 pivot to support a run at the first major resistance level at $0.01663.
Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.01650 levels.
Barring another broad-based crypto rally, the first major resistance level and Wednesday’s high $0.016841 would likely cap any upside.
In the event of another breakout, $0.017 levels and the second major resistance level at $0.01731 would come into play.
Failure to move through the $0.01620 pivot would bring the first major support level at $0.01550 into play.
Barring another extended crypto sell-off, Tron’s TRX should steer clear of the second major support level at $0.01503.
Looking at the Technical Indicators
Major Support Level: $0.01550
Major Resistance Level: $0.01663
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
Please let us know what you think in the comments below
Thanks, Bob