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Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 26/02/20

Bob Mason

Litecoin

Litecoin slid by 6.08% on Tuesday. Following on from a 5.31% decline on Monday, Litecoin ended the day at $70.96.

A bearish start to the day saw Litecoin fall from an early morning intraday high $76.12 to a late morning low $72.64.

Steering clear of the major support and resistance levels, Litecoin recovered to $75 levels before hitting reverse.

The reversal saw Litecoin fall through the first major support level at $71.55 to a late afternoon intraday low $69.30.

Finding support late in the day, Litecoin moved back through to $70 levels to reduce the loss on the day.

At the time of writing, Litecoin was down by 3.83% to $68.24. A bearish start to the day saw Litecoin fall from an early morning high $72.16 to a low $66.61.

Litecoin fell through the first major support level at $68.13 before finding support.

For the day ahead

Litecoin would need to move through to $72.10 levels to support a run the first major resistance level at $74.95.

Support from the broader market would be needed, however, for Litecoin to break back through to $70 levels.

Barring a broad-based crypto rebound, Litecoin would likely fall well short of the first major resistance level.

Failure to move through to $72.10 levels could see Litecoin fall deeper into the red.

A fall back through the first major support level at $68.13 to sub-$67 levels would bring the second major support level at $65.31 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$65 levels on the day.

Looking at the Technical Indicators

Major Support Level: $68.13

Major Resistance Level: $74.95

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 6.47% on Tuesday. Following on from a 5.82% fall on Monday, Stellar’s Lumen ended the day at $0.064739.

Tracking the broader market, Stellar’s Lumen slid from an early morning intraday high $0.069264 to a late intraday low $0.063625.

Stellar’s Lumen fell through the first major support level at $0.06649 and the second major support level at $0.06384.

Finding support late on, Stellar’s Lumen moved back through the second major support level to wrap up the day at $0.064 levels.

At the time of writing, Stellar’s Lumen was down by 4.47% to $0.061844. A bearish start to the day saw Stellar’s Lumen slide from an early morning high $0.064759 to a low $0.060836.

Stellar’s Lumen fell through the first major support level at $0.06249.

For the day ahead

Stellar’s Lumen would need to move through the first major support level to $0.06590 levels to support a run at the first major resistance level at $0.06813.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.064759.

Barring a broad-based crypto rebound, resistance at $0.065 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move through to $0.06590 levels could see Stellar’s Lumen struggle in the day.

A fall through the second major support level at $0.06024 would bring sub-$0.060 levels into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the third major support level at $0.05460.

Looking at the Technical Indicators

Major Support Level: $0.06249

Major Resistance Level: $0.06813

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 4.65% on Tuesday. Following on from a 6.94% slide on Monday, Tron’s TRX ended the day at $0.018995.

A mixed start to the day saw Tron’s TRX fall to a mid-morning low $0.019284 before striking a mid-day intraday high $0.019958.

Falling short of the first major resistance level at $0.02112, Tron’s TRX slid to a late afternoon intraday low $0.01870.

The reversal saw Tron’s TRX fall through the first major support level at $0.01892 before late support kicked in.

At the time of writing, Tron’s TRX was down by 7.85% to $0.017504. A bearish start to the day saw Tron’s TRX slide from an early morning high $0.019145 to a low $0.016290.

Tron’s TRX fell through the day’s major support levels before a move back through the third major support level at $0.01670.

For the Day Ahead

Tron’s TRX would need to move through to $0.01920 levels to support a run at the first major resistance level at $0.01974.

Support from the broader market would be needed, however, for Tron’s TRX to break back through the second major support level at $0.01796 and the first major support level at $0.01848.

Barring an extended crypto rebound, resistance at $0.019 would likely leave Tron’s TRX well short of the first major resistance level.

Failure to move through to $0.01920 levels could see Tron’s TRX slide deeper into the red.

A fall back through the third major support level at $0.01670 would bring sub-$0.016 levels into play.

Barring an extended crypto sell-off, however, the third major support level should limit any downside on the day.

Looking at the Technical Indicators

Major Support Level: $0.01848

Major Resistance Level: $0.01974

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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