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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 25/05/20

Bob Mason

Litecoin

Litecoin slid by 4.08% on Sunday. Following on from a 0.77% decline on Saturday, Litecoin ended the week down by 3.75% to $42.06.

 

A bullish start to the day saw Litecoin rise to a mid-morning intraday high $44.56 before hitting reverse.

 

Coming up against the first major resistance level at $44.53, Litecoin slid to a late afternoon low $42.50.

 

Litecoin fell through the first major support level at $43.46 and second major support level at $43.04.

 

Finding support late on, Litecoin briefly recovered to $43.45 levels before a final house sell-off.

 

Litecoin slid back through the second major support level to an intraday low $42.02.

 

At the time of writing, Litecoin was up by 1.05% to $42.50. A bullish start to the day saw Litecoin rise from an early morning low $41.76 to a high $42.70

 

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

 

For the day ahead

Litecoin would need to move back through to $43 levels to bring the first major resistance level at $43.73 into play.

 

Support from the broader market would be needed, however, for Litecoin to breakout from the morning high $42.70.

 

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

 

Failure to move back through to $43 levels could see Litecoin fall back into the red.

 

A fall back through the morning low $41.76 would bring the first major support level at $41.21 into play.

 

Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $40.37.

Looking at the Technical Indicators

Major Support Level: $41.21

Major Resistance Level: $43.73

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 4.74% on Sunday. Following on from a 1.28% loss on Saturday, Stellar’s Lumen ended the week down by 7.04% to $0.064001.

 

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.068167 before hitting reverse.

 

Falling short of the first major resistance level at $0.06856 Stellar’s Lumen fell to a late afternoon low $0.065418.

 

The reversal saw Stellar’s Lumen fall through the first major support level at $0.06629 before briefly recovering to $0.066 levels.

 

A final hour sell-off, however, saw Stellar’s Lumen slide to an intraday low $0.063814. Stellar’s Lumen slid through the first major support level at $0.06629 and second major support level at $0.06537.

 

At the time of writing, Stellar’s Lumen was up by 1.18% to $0.064755. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.063783 to a high $0.064896.

 

Stellar’s Lumen left the major support and resistance levels untested early on.

 

For the day ahead

Stellar’s Lumen would need to move back through to $0.06530 levels to bring the first major resistance level at $0.06684 into play.

 

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.064896.

 

Barring a broad-based crypto rebound, the first major resistance level and Sunday’s high $0.068167 would likely limit any upside.

 

Failure to move through to $0.06530 levels could see Stellar’s Lumen hit reverse.

 

A fall through to sub-$0.064 levels would bring the first major support level at $0.06249 into play.

 

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06097.

Looking at the Technical Indicators

 Major Support Level: $0.06249

Major Resistance Level: $0.06684

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 5.15% on Sunday. Reversing a 0.95% gain from Saturday, Tron’s TRX ended the week down by 5.43% to $0.014200.

A bullish start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.015300 before hitting reverse.

Falling short of the first major resistance level at $0.01546, Tron’s TRX fell to a late afternoon low $0.014464.

Tron’s TRX fell through the first major support level at $0.01469 before briefly recovering to $0.01470 levels.

A late sell-off, however, saw Tron’s TRX slide to an intraday low $0.014200. Tron’s TRX fell through the first major support level at $0.01469 and second major support level at $0.01438.

At the time of writing, Tron’s TRX was up by 1.80% to $0.014456. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.014117 to a high $0.014456.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to move back through to $0.01460 levels to support a run at the first major resistance level at $0.01493.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.014456.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside.

Failure to move through to $0.01460 levels could see Tron’s TRX hit reverse.

A fall through the morning low $0.014117 would bring the first major support level at $0.01383 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.014 levels.

Looking at the Technical Indicators

 Major Support Level: $0.01383

Major Resistance Level: $0.01493

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

This article was originally posted on FX Empire

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