Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 10/03/20

Litecoin

Litecoin fell by 1.13% on Monday. Following on from a 15.51% tumble on Sunday, Litecoin ended the day at $50.53.

A mixed start to the day saw Litecoin rise to an early morning intraday high $52.51 before hitting reverse.

Falling short of the first major resistance level at $57.63, Litecoin fell to a mid-afternoon intraday low $46.61.

Litecoin fell through the first major support level at $47.58 before recovering to $50 levels.

At the time of writing, Litecoin was down by 0.22% to $50.42. A mixed start to the day saw Litecoin fall to an early morning low $50.00 before striking a high $50.94.

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

For the day ahead

Litecoin would need to move through the morning high $50.94 to support a run the first major resistance level at $53.16.

Support from the broader market would be needed, however, for Litecoin to break out from this Monday’s high $52.51.

Barring an extended crypto rally, resistance at $52 would likely leave Litecoin short of the first major resistance level.

Failure to move through the morning high could see Litecoin fall deeper into the red.

A fall back through to sub-$50 levels would bring the first major support level at $47.26 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$45 support levels.

Looking at the Technical Indicators

Major Support Level: $47.26

Major Resistance Level: $53.16

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rallied by 4.73% on Monday. Partially reversing a 15.07% tumble from Sunday, Stellar’s Lumen ended the day at $0.052386.

A choppy start to the day saw Stellar’s Lumen fall to a mid-morning low $0.048576 before finding support.

Steering clear of the first major support level at $0.04679, Stellar’s Lumen struck a late morning high $0.052246.

Falling well short of the first major resistance level at $0.05564, Stellar’s Lumen slid to a mid-afternoon intraday low $0.047837.

Steering clear of the first major support level at $0.04679, Stellar’s Lumen struck a final hour intraday high $0.052386. While wrapping up the day at $0.052 levels, Stellar’s Lumen fell short of the first major resistance level at $0.05564.

At the time of writing, Stellar’s Lumen was down by 0.36% to $0.05220. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.051944 before striking a high $0.052423.

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 to 0.05240 levels to support a run at the first major resistance level to $0.05390.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.052386.

Barring a broad-based crypto rebound, resistance at $0.052 would likely limit any upside on the day.

Failure to move through to $0.05240 levels could see Stellar’s Lumen fall deeper into the red

A fall back through the morning low $0.051944 to sub-$0.051 levels would bring the first major support level at $0.04935 into play.

Barring a broad-based crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.048 support levels.

Looking at the Technical Indicators

Major Support Level: $0.04935

Major Resistance Level: $0.05390

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 rose by 2.97% on Monday. Partially reversing a 13.74% tumble from Sunday, Tron’s TRX ended the day at $0.015136.

A mixed start to the day saw Tron’s TRX fall to a mid-morning low $0.014280 before making a move.

Steering clear of the major support levels, Tron’s TRX struck a late morning intraday high $0.015350.

Falling short of the first major resistance level at $0.01627, Tron’s TRX fell back to a mid-afternoon intraday low $0.014097.

Steering clear of the first major support level at $0.01385, Tron’s TRX bounced back to wrap up the day at $0.0150 levels.

At the time of writing, Tron’s TRX was down by 0.54% to $0.015054. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.014956 before striking a high $0.015169.

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 to $0.01520 levels to support another run at the first major resistance level at $0.01563.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the Monday’s high $0.015350.

Barring an extended crypto rally, the first major resistance at $0.01563 would likely cap any upside on the day.

Failure to move through to $0.01520 levels could see Tron’s TRX fall deeper into the red.

A fall back through the morning low to sub-$0.01490 levels would bring the first major support level at $0.01437 into play.

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

Looking at the Technical Indicators

Major Support Level: $0.01437

Major Resistance Level: $0.01563

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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