Yahoo Finance Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 2nd, 2020
Litecoin
Litecoin rose by 1.55% on Wednesday. Partially reversing a 1.70% slide from Tuesday, Litecoin ended the day at $41.80.
A bearish start to the day saw Litecoin fall to an early morning afternoon intraday low $40.96 before making a move.
Steering clear of the first major support level at $40.58, Litecoin rallied to a late afternoon intraday high $42.02.
Litecoin broke through the first major resistance level at $41.91 before falling back to sub-$41.60 levels.
Finding late support, Litecoin revisited $42 levels before easing back. The first major resistance level capped the upside on the day.
At the time of writing, Litecoin was down by 0.26% to $41.69. A mixed start to the day saw Litecoin rise to an early morning high $41.91 before falling to a low $41.66.
Litecoin left the major support and resistance levels untested early in the day.
For the day ahead
Litecoin would need to avoid a fall through the $41.60 pivot to support a run at the first major resistance level at $42.23.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $42.02.
Barring another crypto rally, the first major resistance level and Wednesday’s high $42.02 would likely cap any upside.
Failure to avoid a fall through the $41.60 pivot could see Litecoin struggle on the day.
A fall back through to sub-$41.50 levels would bring the first major support level at $41.17 into play.
Barring an extended crypto sell-off, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.53 should limit any downside.
Looking at the Technical Indicators
Major Support Level: $41.17
Major Resistance Level: $42.23
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 1.96% on Wednesday. Following on from a 2.85% rally on Tuesday, Stellar’s Lumen ended the day at $0.068009.
A bearish start to the day saw Stellar’s Lumen fall to an early morning intraday low $0.066166.
Steering clear of the first major support level at $0.06518, Stellar’s Lumen rallied to a late afternoon intraday high $0.069447.
Stellar’s Lumen broke through the first major resistance level at $0.06816 and the second major resistance level at $0.06816.
A late pullback saw Stellar’s Lumen fall back to sub-$0.068 levels before recovering to $0.068 levels. The first major resistance level at $0.06816 capped the upside late in the day.
At the time of writing, Stellar’s Lumen was up by 2.50% to $0.069707. A bullish start to the day saw Stellar’s Lumen rally from an early morning low $0.069377 to a high $0.069707.
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 through the $0.06790 pivot to support a run at the first major resistance level at $0.06958.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.069707.
Barring another broad-based crypto rally, the first major resistance level would likely limit any upside.
A fall through the $0.06790 pivot could see Stellar’s Lumen struggle throughout the day.
A pullback through to sub-$0.067 levels would bring the first major support level at $0.06630 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06459.
Looking at the Technical Indicators
Major Support Level: $0.06630
Major Resistance Level: $0.06958
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 rallied by 3% on Wednesday. Following on from a 1.17% gain on Tuesday, Tron’s TRX ended the day at $0.016845.
A bearish start to the day saw Tron’s TRX fall to an early morning intraday low $0.016241 before making a move.
Steering clear of the first major support level at $0.01620, Tron’s TRX rallied to a late afternoon intraday high $0.017036.
Tron’s TRX broke through the first major resistance level at $0.01662 and the second major resistance level at $0.01684.
A late pullback saw Tron’s TRX fall back to sub-$0.01680 levels before revisiting $0.01695 levels.
The second major resistance level at $0.01684 pinned Tron’s TRX back late in the day.
At the time of writing, Tron’s TRX was up by 1.32% to $0.017068. A bullish start to the day saw Tron’s TRX rise from an early morning low 0.016901 to a high $0.017136.
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 through the $0.01670 pivot to support a run at the first major resistance level at $0.01717.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.017136.
Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.
Failure to avoid a fall through the $0.01670 pivot would bring the first major support level at $0.01638 into play.
Barring another extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.016 levels. The second major support level sits at $0.01591.
Looking at the Technical Indicators
Major Support Level: $0.01638
Major Resistance Level: $0.01717
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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