Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 04/03/20
Litecoin
Litecoin fell by -0.76% on Tuesday. Partially reversing a 6.64% rally from Monday, Litecoin ended the day at $61.00.
A mixed start to the day saw Litecoin rise from an early morning low $60.11 to a mid-day intraday high $62.44.
While falling short of the first major resistance level at $63.49, Litecoin broke through the 23.6% FIB of $22 before hitting reverse.
The reversal saw Litecoin fall to a late afternoon intraday low $59.29. Steering clear of the first major support level at $58.35, Litecoin recovered to $61 levels to limit the loss.
Litecoin did fall back through the 23.6% FIB, however.
At the time of writing, Litecoin was up by 0.79% to $61.48. A bullish start to the day saw Litecoin rise from an early morning low $60.53 to a high $61.80.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the morning high to $62 levels to support a run the first major resistance level at $62.53.
Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $62.
Barring an extended crypto rally, Litecoin the first major resistance level and 23.6% FIB would likely limit any upside.
Failure to move through to $62 levels could see Litecoin hit reverse.
A fall back through to sub-$60.90 levels would bring the first major support level at $59.38 into play.
Barring another extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $57.76.
Looking at the Technical Indicators
Major Support Level: $59.38
Major Resistance Level: $62.53
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 1.23% on Tuesday. Partially reversing a 5.47% rally from Monday, Stellar’s Lumen ended the day at $0.058431.
A relatively bullish start to the day saw Stellar’s Lumen rise to a mid-day intraday high $0.060451.
Falling short of the first major resistance level at $0.06111, Stellar’s Lumen slid to a late afternoon intraday low $0.057837.
Steering clear of the first major support level at $0.05722, Stellar’s Lumen recovered to $0.058 levels.
At the time of writing, Stellar’s Lumen was up by 0.85% to $0.058927. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.058430 before striking a high $0.058950
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 morning high $0.05895 to support a run at the first major support level to $0.059980.
Support from the broader market would be needed, however, for Stellar’s Lumen to break through to $0.059 levels.
Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside on the day.
Failure to move through to $0.059 levels could see Stellar’s Lumen struggle later in the day.
A fall back through to sub-$0.05890 levels would bring the first major support level at $0.05736 into play.
Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.057 levels.
Looking at the Technical Indicators
Major Support Level: $0.05736
Major Resistance Level: $0.05998
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 1.79% on Tuesday. Partially reversing a 6.03% rally from Monday, Tron’s TRX ended the day at $0.017295.
A bearish start to the day saw Tron’s TRX fall from an early morning intraday high $0.017652 to a late morning low $0.017134.
Steering clear of the major support and resistance levels, Tron’s TRX recovered to $0.01760 levels before hitting reverse.
The reversal saw Tron’s TRX slide to a late afternoon intraday low $0.01700 before finding support.
Steering clear of the first major support level at $0.01675, Tron’s TRX recovered to $0.01740 levels before easing back.
At the time of writing, Tron’s TRX was up by 1.87% to $0.017619. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.017181 before striking a high $0.017621.
Steering clear of the major support levels, Tron’s TRX test the first major resistance level at $0.01763.
For the Day Ahead
Tron’s TRX would need to move through the morning high to break out from the first major resistance level at $0.017630.
Support from the broader market would be needed, however, for Tron’s TRX to break through the first major resistance level at $0.017970.
Barring an extended crypto rally, the first major resistance would likely cap any upside on the day.
Failure to move through the morning high $0.017621 could see Tron’s TRX hit reverse.
A fall back through to sub-$0.01735 levels would bring the first major support level at $0.01698 into play.
Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.01666.
Looking at the Technical Indicators
Major Support Level: $0.01698
Major Resistance Level: $0.01763
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
