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

Litecoin

Litecoin rallied by 10.28% on Wednesday. Reversing a 7.39% slide from Tuesday, Litecoin ended the day at $40.77.

A bearish morning saw Litecoin fall from an early morning high $37.98 to an early afternoon intraday low and new swing lo $35.88.

Steering clear of the first major support level at $35.41, Litecoin rallied to a late intraday high $41.65.

Breaking through the first major resistance level at $39.31, Litecoin came up against the second major resistance level at $41.63 before easing back.

At the time of writing, Litecoin was down by 2.75% to $39.65. A bearish start to the day saw Litecoin fall from an early morning high $41.12 to a low $39.55.

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

For the day ahead

Litecoin would need to move back through to $40.0 levels to support a run at the first major resistance level at $42.99.

Litecoin would need the support of the broader market to break out from the morning high $41.12.

Barring a broad-based crypto rally, however, Litecoin would likely fall well short of $42 levels on the day.

Failure to move through to $40.0 levels could see Litecoin slide deeper into the red.

A fall back through the morning low $39.55 would bring the first major support level at $37.22 into play.

Barring an extended sell-off, however, Litecoin should steer clear of sub-$34 levels and the second major support level at $33.66.

Looking at the Technical Indicators

Major Support Level: $37.22

Major Resistance Level: $42.99

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rallied by 7.85% on Wednesday. Reversing most of an 8.30% tumble on Tuesday, Stellar’s Lumen ended the day at $0.046809.

A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.045041 before sliding to an early afternoon intraday low and new swing lo $0.042082.

Steering clear of the first major support level at $0.04144, Stellar’s Lumen rallied to a late intraday high $0.048159.

Stellar’s Lumen broke through the first major resistance level at $0.04645 before easing back.

At the time of writing, Stellar’s Lumen was down by 2.76% to $0.045518. A bearish start to the day saw Stellar’s Lumen slide from an early morning high $0.047261 to a low $0.045518.

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 $0.04570 levels to support a run at the first major resistance level at $0.04928.

Support from the broader market would be needed for Stellar’s Lumen to break out from Wednesday’s high $0.048159 levels.

Barring a broad-based crypto rally, however, the resistance at $0.048 levels would likely pin Stellar’s Lumen back.

Failure to steer clear of $0.04570 levels could see Stellar’s Lumen slide deeper into the red.

A fall back through to sub-$0.044 levels would bring the first major support level at $0.04321 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.040 levels.

Looking at the Technical Indicators

Major Support Level: $0.04321

Major Resistance Level: $0.04928

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 rallied by 7.33% on Wednesday. Reversing a 7.01% slide from Tuesday, Tron’s TRX ended the day at $0.013423.

A mixed start to the day saw Tron’s TRX rise to an early morning high $0.012797 before sliding to an early afternoon intraday low $0.01216.

Steering clear of the first major support level at $0.01204, Tron’s TRX rallied to a late intraday high $0.013654.

Tron’s TRX broke through the first major resistance level at $0.01321 to close out the day at $0.013 levels.

At the time of writing, Tron’s TRX was down by 2.29% to $0.013115. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.013554 to a low $0.013115.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to move back through the morning high $0.013554 to support a run at the first major resistance level at $0.01400.

Support from the broader market would be needed for Tron’s TRX to break out from Wednesday’s high $0.013654.

Barring a broad-based crypto rebound, however, Tron’s TRX would likely fall short of the first major resistance level.

Failure to move back through the morning high $0.013554 could see Tron’s TRX struggle throughout the day.

A fall through to sub-$0.013110 would bring the first major support level at $0.01250 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.012 support levels.

Looking at the Technical Indicators

Major Support Level: $0.01250

Major Resistance Level: $0.01400

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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