Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 13th, 2020
Litecoin
Litecoin fell by 0.07% on Sunday. Reversing a 0.92% gain from Saturday, Litecoin ended the week up by 7.50% to $44.71.
A bullish start to the day saw Litecoin rise to an early morning intraday high $45.24 before easing back.
Litecoin broke through the first major resistance level at $45.03 before falling back to sub-$44.70 levels.
A second rally in the afternoon saw Litecoin break back through the first major resistance level before hitting reverse.
The reversal saw Litecoin slide through the first major support level at $44.16 to an intraday low $43.76.
Steering clear of the second major support level at $43.59, Litecoin found late support to wrap up the day at $44 levels.
At the time of writing, Litecoin was down by 0.08% to $44.63. A mixed start to the day saw Litecoin rise to an early morning high $44.83 before falling to a low $44.53.
Litecoin left the major support and resistance levels untested early in the day.
For the day ahead
Litecoin would need to avoid a fall through the $44.57 pivot to support a run at the first major resistance level at $45.38.
Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $45.24.
Barring another crypto rally, the first major resistance level and Sunday’s high $45.24 would likely cap any upside.
Failure to avoid a fall through the $44.57 pivot would bring the first major support level at $43.90 into play.
Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$43 levels. The second major support level at $43.09 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $43.90
Major Resistance Level: $45.38
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen
Stellar’s Lumen rose by 0.37% on Sunday. Following on from a 5.11% rally from Saturday, Stellar’s Lumen ended the week up by 41.84% to $0.095374.
It was a bullish start to the day. Stellar’s Lumen rose to an early morning intraday high $0.097762 before hitting reverse.
Falling short of the first major resistance level at $0.10047, Stellar’s Lumen fell to an early afternoon intraday low $0.09000.
Steering clear of the first major support level at $0.08899, Stellar’s Lumen bounced back to wrap up the day at $0.095 levels.
At the time of writing, Stellar’s Lumen was down by 0.72% to $0.09469. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.094005 before striking a high $0.095772.
Stellar’s Lumen left the major support and resistance levels untested early on.
For the day ahead
Stellar’s Lumen would need to avoid a fall through the $0.09440 pivot to support a run at the first major resistance level at $0.09876.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from last week’s high $0.09776.
Barring another broad-based crypto rally, the first major resistance level and Sunday’s high $0.097762 would likely limit any upside.
Failure to avoid a fall through the $0.09440 pivot would bring the first major support level at $0.09100 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.090 levels. The second major support level sits at $0.08662.
Looking at the Technical Indicators
Major Support Level: $0.09100
Major Resistance Level: $0.09876
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.14336518
62% FIB Retracement Level: $0.2050
Tron’s TRX
Tron’s TRX fell by 0.85% on Sunday. Partially reversing a 1.27% gain from Saturday, Tron’s TRX ended the week up by 7.24% to $0.01821.
It was also a bullish start to the day. Tron’s TRX rose to an early morning intraday high $0.018526 before hitting reverse.
Falling short of the first major resistance level at $0.01881, Tron’s TRX fell to an early afternoon intraday low $0.017921.
Tron’s TRX fell through the first major support level at $0.01809 before recovering to $0.01800 levels.
While moving back through to $0.018 levels, the first major support level pinned Tron’s TRX back late in the day.
At the time of writing, Tron’s TRX was down by 0.52% to $0.018115. A mixed start to the day Tron’s TRX rise from an early morning high $0.01824 to a low $0.01810.
Tron’s TRX tested the first major support level at $0.01686 early on.
For the Day Ahead
Tron’s TRX would need to move through the $0.01822 pivot level to support a run at the first major resistance level at $0.01852.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0185 levels.
Barring another extended crypto rally, the first major resistance level and Sunday’s high $0.018526 would likely cap any upside.
Failure to move through the $0.1822 pivot level would bring the first major support level at $0.01791 into play.
Barring an extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.017 levels. The second major support level at $0.01761 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $0.01791
Major Resistance Level: $0.01852
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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