Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 14/01/20

Litecoin

Litecoin slid by 3.56% on Monday. Partially reversing a 4.15% rally from Sunday, Litecoin ended the day at $49.58.

A bearish start to the day saw Litecoin fall from an early morning intraday high $51.63 to an early afternoon intraday low $48.85.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $49.59.

Finding support late on, Litecoin recovered to $50 levels before sliding back into the deep red.

At the time of writing, Litecoin was up by 6.29% to $52.70. A bullish start to the day saw Litecoin rally from an early morning low $49.56 to a high $53.68.

Steering clear of the major support levels, Litecoin broke through the first major resistance level at $51.19 and second major resistance level at $52.80.

For the day ahead

Litecoin would need to break back through the second major resistance level to support a run at $54 levels.

Support from the broader market would be needed for Litecoin to break out from the morning high $53.68.

Barring an extended crypto rally, however, Litecoin would likely come up short of the third major resistance level at $55.58.

Failure to move back through to the second major resistance level could see Litecoin give up some of the early gains. A fall back through to $50 levels would bring the first major support level at $48.41 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$50 levels on the day.

Looking at the Technical Indicators

Major Support Level: $48.41

Major Resistance Level: $51.19

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 1.89% on Monday. Reversing a 1.45% gain from Sunday, Stellar’s Lumen ended the day at $0.048054.

Tracking the broader market, Stellar’s Lumen fell from an early intraday high $0.048947 to an early afternoon intraday low $0.047571.

Stellar’s Lumen fell through the first major support level at $0.04819. Coming within range of the second major support level at $0.04755, Stellar’s Lumen recovered to $0.048 levels to limit the loss.

At the time of writing, Stellar’s Lumen was up by 1.97% to $0.04900. A bullish start to the day saw Stellar’s Lumen rally from an early morning low $0.048106 to a high $0.049120.

Steering clear of the major support levels, Stellar’s Lumen broke through the first major resistance level at $0.04881.

For the day ahead

Stellar’s Lumen would need to hold above the first major resistance level to support a run at the second major resistance level at $0.04957.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.049120.

Barring an extended crypto rally, the first major resistance level would likely limit any upside on the day.

Failure to hold above the first major resistance level could see Stellar’s Lumen hit reverse.

A fall back through to sub-$0.04820 levels would bring the first major support level at $0.04743 into play.

Barring a crypto meltdown, however, Stellar’s Lumen should steer well clear of sub-$0.04800 levels.

Looking at the Technical Indicators

Major Support Level: $0.04743

Major Resistance Level: $0.04881

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 2.18% on Monday. Reversing a 2.24% rally from Sunday, Tron’s TRX ended the day at $0.014687.

A bearish start to the day saw Tron’s TRX slide from an early morning intraday high $0.015015 to an early afternoon intraday low $0.014554.

In spite of the sell-off, Tron’s TRX held above the first major support level at $0.01453.

Late in the day, Tron’s TRX revisited $0.01470 levels before easing back.

At the time of writing, Tron’s TRX was up by 1.7% to $0.014936. A bullish start to the day saw Tron’s TRX rise from an early morning low $0.014717 to a high $0.15002.

Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.014950.

For the Day Ahead

Tron’s TRX would need to break back through the first major resistance level to support a run at the second major resistance level at $0.01521.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.015002.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.015015 would likely pin Tron’s TRX back.

Failure to move back through the first major resistance level could see Tron’s TRX give up the early gains.

A fall through to sub-$0.01475 levels would bring the first major support level at $0.01449 into play.

Barring a crypto meltdown, however, Tron’s TRX should steer clear of sub-$0.014 levels on the day.

The second major support level at $0.01429 should limit any downside in the event of an extended sell-off.

Looking at the Technical Indicators

Major Support Level: $0.01449

Major Resistance Level: $0.01495

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