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
This article was originally posted on FX Empire
More From FXEMPIRE:
Gold Price Prediction – Prices Rebound as Hedge funds Add to Long Positions
Crude Oil Breaks Lower – Sparking Fears Of Another Sub $30 Price Collapse
US Stocks – Profit-Taking Continues as High-Flying Tech Shares Remain Under Pressure
Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – September 9th, 2020
Natural Gas Price Prediction – Prices Slide on Milder Weather
