Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 14th, 2020

Litecoin

Litecoin fell by 1.92% on Monday. Following on from a 0.07% decline on Sunday, Litecoin ended the day at $43.90.

A bullish start to the day saw Litecoin rise to a mid-day intraday high $45.55 before hitting reverse.

Litecoin broke through the first major resistance level at $45.38 before sliding to a late intraday low $42.62.

The reversal saw Litecoin fall through the first major support level at $43.90 and the second major support level at $43.09.

Finding late support, Litecoin broke back through the major support levels to limit the loss on the day.

At the time of writing, Litecoin was down by 0.16% to $43.83. A bearish start to the day saw Litecoin fall from an early morning high $43.88 to a low $43.47.

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

For the day ahead

Litecoin would need to move through the $44 pivot to support a run at the first major resistance level at $45.43.

Support from the broader market would be needed, however, for Litecoin to break back through to $45 levels.

Barring another crypto rally, the first major resistance level and Monday’s high $45.55 would likely cap any upside.

Failure to move through the $44 pivot would bring the first major support level at $42.50 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $41.09 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $45.43

Major Resistance Level: $42.50

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 5.15% on Monday. Reversing a 0.37% gain from Sunday, Stellar’s Lumen ended the day at $0.090535.

It was a mixed start to the day. Recovering from an early low $0.092589, Stellar’s Lumen rose to a mid-day intraday high $0.098188 before hitting reverse.

Falling short of the first major resistance level at $0.09876, Stellar’s Lumen fell to a late intraday low $0.08719.

Stellar’s Lumen fell through the first major support level at $0.09100 before finding support.

A recovery to $0.09174 levels was brief, however, with Stellar’s Lumen falling back through the first major support level late on.

At the time of writing, Stellar’s Lumen was down by 0.49% to $0.090094. A bearish start to the day saw Stellar’s Lumen fall to an early morning low $0.089569 before rising to a high $0.090094.

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 $0.09197 pivot to support a run at the first major resistance level at $0.09675.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from $0.095 levels.

Barring another broad-based crypto rally, the first major resistance level and Monday’s high $0.098188 would likely limit any upside.

Failure to move through the $0.09197 pivot would bring the first major support level at $0.08575 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should avoid sub-$0.080 levels. The second major support level at $0.08097 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.09675

Major Resistance Level: $0.08575

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 slid by 3.46% on Monday. Following on from a 0.85% loss on Sunday, Tron’s TRX ended the day at $0.01758.

It was also a mixed start to the day. Tron’s TRX recovered from an early morning low $0.017966 to strike a mid-day intraday high $0.018452 before hitting reverse.

Falling short of the first major resistance level at $0.01852, Tron’s TRX slid to a late intraday low $0.017046.

Tron’s TRX fell through the first major support level at $0.01791 and second major support level at $0.01761

Steering clear of the third major support level at $0.01701, Tron’s TRX moved back through to $0.01750 levels.

At the time of writing, Tron’s TRX was down by 1.13% to $0.017381. A bearish start to the day Tron’s TRX fall from an early morning high $0.017543 to a low $0.017209.

Tron’s TRX tested the first major support level at $0.01686 early on.

For the Day Ahead

Tron’s TRX would need to move through the $0.01770 pivot level to support a run at the first major resistance level at $0.01834.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.018 levels.

Barring another extended crypto rally, the first major resistance level and Monday’s high $0.018452 would likely cap any upside.

Failure to move through the $0.1770 pivot level would bring the first major support level at $0.01693 into play.

Barring another extended crypto sell-off, Tron’s TRX should steer clear of the second major support level at $0.01629.

Looking at the Technical Indicators

Major Support Level: $0.01693

Major Resistance Level: $0.01834

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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