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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 20th, 2020

Litecoin

Litecoin rose by 0.42% on Sunday. Following on from a 1.43% gain on Saturday, Litecoin ended the week down by 4.71% to $42.65.

It was a mixed start to the day. Litecoin rose to an early morning high $42.62 before hitting reverse.

Falling short of the major resistance levels, Litecoin slid to a mid-afternoon intraday low $41.88.

Finding support at the first major support level at $41.84, Litecoin rallied to a late intraday high $42.92.

Coming within range of the first major resistance level at $43.00, Litecoin eased back to sub-$42.70 levels.

At the time of writing, Litecoin was up by 0.02% to $42.66. Another mixed start to the day saw Litecoin fall to an early morning low $4242 before striking a high $42.84.

Litecoin left the major support and resistance levels untested early in the day.

For the day ahead

Litecoin would need to avoid a fall back through the $42.50 pivot to support a run at the first major resistance level at $43.09.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $42.92.

Barring another crypto rally, the first major resistance level and Sunday’s high would likely cap any upside.

Failure to avoid a fall back through the $42.50 pivot would bring the first major support level at $42.05 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$41 levels. The second major support level at $41.44 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $42.05

Major Resistance Level: $43.09

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 0.48% on Sunday. Following on from a 3.04% slide on Saturday, Stellar’s Lumen ended the week up by 5.23% to $0.10044.

It was a choppy start to the day. Stellar’s Lumen fell to an early morning low $0.099393 before finding support.

Steering clear of the major support levels, Stellar’s Lumen rose to a late morning intraday high $0.10233 before hitting reverse.

Falling short of the first major resistance levels at $0.10671, Stellar’s Lumen slid to a mid-afternoon intraday low $0.096915.

Stellar’s Lumen fell through the first major support level at $0.09871 before recovering to $0.10 levels.

At the time of writing, Stellar’s Lumen was down by 0.39% to $0.10005. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.10048 before falling to a low $0.099305.

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 back through the $0.09999 pivot to support a run at the first major resistance level at $0.10288.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Sunday’s high $0.10233.

Barring another broad-based crypto rally, the first major resistance level and Sunday’s high would likely limit any upside.

Failure to avoid a fall back through the $0.09999 pivot would bring the first major support level at $0.09746 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.090 levels. The second major support level at $0.09448 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.09746

Major Resistance Level: $0.10288

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 rose by 0.68% on Sunday. Following on from a 1.31% gain from Saturday, Tron’s TRX ended the week down by 3.56% to $0.017562.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.017601 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.01757 before sliding to a mid-day intraday low $0.017200.

Finding support at the first major support level at $0.01717, Tron’s TRX recovered to $0.0175 levels to end the day in the green.

At the time of writing, Tron’s TRX was up by 0.18% to $0.017632. Another mixed start to the day saw Tron’s TRX rise to an early morning high $0.017613 before falling to a low $0.017439.

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 back through the $0.01745 pivot level to support a run at the first major resistance level at $0.01771.

Support from the broader market would be needed, however, for Tron’s TRX to break back through the morning high $0.017613.

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

Failure to avoid a fall back through the $0.01745 pivot level would bring the first major support level at $0.01731 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.017 levels. The second major support level at $0.01705 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01731

Major Resistance Level: $0.01771

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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