Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 13/04/20

Litecoin

Litecoin fell by 1.31% on Sunday. Reversing a 0.57% gain from Saturday, Litecoin ended the week up by 4.14% to $42.04.

A bearish start to the day saw Litecoin fall to an early morning intraday low $41.90 before finding support.

Steering clear of the first major support level at $41.67, Litecoin rallied to a late afternoon intraday high $43.75.

Litecoin broke through the first major resistance level at $43.40 before sliding back into the red.

At the time of writing, Litecoin was down by 3.90% to $40.40. A bearish start to the day saw Litecoin slide from an early morning high $42.00 to a low $39.50.

Litecoin fell through the first major support level at $41.38 and the second major support level at $40.71 early on.

For the day ahead

Litecoin would need to move through to $42.60 levels to support a run the first major resistance level at $43.23.

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

Barring a broad-based crypto rebound, resistance at $42 would likely leave Litecoin short of the first major resistance at $43.23.

Failure to move back through to $42.60 levels could see Litecoin struggle throughout the day.

A fall back through to sub-$40 levels would bring the third major support level at $38.86 into play.

Barring an extended crypto sell-off, however, Litecoin should avoid a return to sub-$40 levels.

Looking at the Technical Indicators

Major Support Level: $41.38

Major Resistance Level: $43.23

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 1.18% on Sunday. Partially reversing a 4.21% rally from Saturday, Stellar’s Lumen ended the week up by 12.68% to $0.04924.

A bearish start to the day saw Stellar’s Lumen fall to a mid-morning intraday low $0.048605 before making a move.

Steering clear of the first major support level at $0.04818, Stellar’s Lumen rallied to a late afternoon intraday high $0.051482.

Stellar’s Lumen broke through the first major resistance level at $0.05058 to come within range of the second major resistance level at $0.05151.

A bearish end to the day, however, saw Stellar’s Lumen slide back to wrap up the day at sub-$0.050.

At the time of writing, Stellar’s Lumen was down by 5.60% to $0.046481. A bearish start to the day saw Stellar’s Lumen slide from an early morning high $0.048665 to a low $0.045158.

Stellar’s Lumen fell through the first major support level at $0.04807 and the second major support level at $0.04690 early on.

For the day ahead

Stellar’s Lumen would need to move back through the support levels to $0.050 levels to support a run at the first major resistance level at $0.05095.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.049 levels.

Barring a broad-based crypto rebound, resistance at $0.049 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move through to $0.050 levels could see Stellar’s Lumen struggle throughout the day.

A fall back through to sub-$0.046 levels would bring the third major support level at $0.04402 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.045 levels.

Looking at the Technical Indicators

Major Support Level: $0.04807

Major Resistance Level: $0.05095

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 rose by 1.44% on Sunday. Following a 0.04% fall on Saturday, Tron’s TRX ended the week up by 0.37% to $0.012750.

A bearish start to the day saw Tron’s TRX slide to an early morning intraday low $0.012365 before finding support.

Steering clear of the first major support level at $0.012280, Tron’s TRX struck a late afternoon intraday high $0.013262.

Tron’s TRX broke through the first major resistance level at $0.01280 and second major resistance level at $0.01308 before hitting reverse.

A late sell-off saw Tron’s TRX fall back through the major resistance levels to limit the upside on the day.

At the time of writing, Tron’s TRX was down by 2.87% to $0.012384. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.012648 to a low $0.012029.

Tron’s TRX fell through the first major support level at $0.012320 before finding support.

For the Day Ahead

Tron’s TRX would need to move back through to $0.01280 levels to support a run at the first major resistance level at $0.01322.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.013 levels.

Barring a broad-based crypto rebound, resistance at $0.013 would likely leave Tron’s TRX short of the first major resistance level.

Failure to move back through to $0.01280 levels could see Tron’s TRX spend the day in the red.

A fall through the first major support level at $0.01232 would bring the second major support level at $0.01190 back into play.

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

Looking at the Technical Indicators

Major Support Level: $0.01232

Major Resistance Level: $0.01369

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