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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 25/12/19

Bob Mason

Litecoin

Litecoin fell by 0.59% on Tuesday. Following on from a 3.13% slide on Monday, Litecoin ended the day at $40.30.

A relatively bullish morning saw Litecoin rise from a mid-morning low $40.33 to an early afternoon intraday high $41.12.

Falling well short of the first major resistance level at $42.12, Litecoin slid to a late afternoon intraday low $39.75.

Steering clear of the first major support level at $39.66, Litecoin recovered to $40 levels to limit the downside on the day.

At the time of writing, Litecoin was down by 0.79% to $39.98. A bearish start to the day saw Litecoin fall from an early morning high $40.38 to a low $39.84.

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

For the day ahead

Litecoin would need to move through to $40.40 levels to support a run at the first major resistance level at $41.03.

Litecoin would need the support of the broader market to break out from the morning high $40.38.

Barring an extended crypto rally, however, resistance at $41 would likely cap any upside on the day.

Failure to move through to $40.40 levels could see Litecoin slide deeper into the red.

A fall back through the morning low $39.84 would bring the first major support level at $39.66 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$39 levels on the day. The second major support level at $39.02 would likely limit any downside.

Looking at the Technical Indicators

Major Support Level: $39.66

Major Resistance Level: $41.03

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 0.24% on Tuesday. Partially reversing a 5.32% slide from Monday, Stellar’s Lumen ended the day at $0.045079.

A bearish start to the day saw Stellar’s Lumen slide to a mid-morning intraday low $0.0447 before finding support.

Steering clear of the first major support level at $0.04391, Stellar’s Lumen bounced back to an early afternoon intraday high $0.045742.

Falling short of the first major resistance level at $0.04685, Stellar’s Lumen eased back late in the day to limit the upside.

At the time of writing, Stellar’s Lumen was flat at $0.045080. Another range-bound start to the day saw Stellar’s Lumen fall to an early morning low $0.044989 before striking a high $0.04508.

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 $0.4517 levels to support a run at the first major resistance level at $0.04565.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.04508.

Barring a broad-based crypto rally, however, the resistance at $0.045 levels would likely pin Stellar’s Lumen back on the day.

Failure to move through to $0.04517 levels could see Stellar’s Lumen slide back into the red.

A fall through the morning low $0.044989 would bring the first major support level at $0.04461 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of the second major support level at $0.04413.

Looking at the Technical Indicators

Major Support Level: $0.04461

Major Resistance Level: $0.04565

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 fell by 1.15% on Tuesday. Following on from an 8.63% tumble on Monday, Tron’s TRX ended the day at $0.013646.

A mixed start to the day saw Tron’s TRX fall to an early morning low $0.013430 before striking an early afternoon intraday high $0.013856.

Falling well short of the first major resistance level at $0.01523, Tron’s TRX slid to a late afternoon intraday low $0.013202.

Steering clear of the first major support level at $0.01293, Tron’s TRX recovered to $0.01360 levels to limit the loss on the day.

At the time of writing, Tron’s TRX was down by 1.10% to $0.013496. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.013601 to a low $0.013368.

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 $0.013570 levels to support a move through the first major resistance level at $0.013930.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.013601.

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

Failure to move through to $0.013570 levels could see Tron’s TRX fall deeper into the red.

A fall back through the morning low $0.013368 would bring the first major support level at $0.013280 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.013 levels on the day.

Looking at the Technical Indicators

Major Support Level: $0.01328

Major Resistance Level: $0.01422

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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