The crypto bears set the tone for the week once more, as the majors slide deeper into the red. Support levels are in play through the morning.
Litecoin rallied by 5.32% on Sunday. Partially reversing a 9.42% slide from Saturday, Litecoin ended the week down 29.09% at $36.24.
A mixed start to the day saw Litecoin fall to an early morning intraday low $33.95 before striking a mid-day high $37.17.
Coming up against the first major resistance level at $37.18, Litecoin fell back to $35 levels.
Tacking the broader market, Litecoin rallied to a late intraday high $39.00 before wrapping up the week at $36 levels.
The rally saw Litecoin break back through the first major resistance level at $37.18 before the pullback.
At the time of writing, Litecoin was down by 5.93% to $34.09. A bearish start to the day saw Litecoin fall from an early morning high $36.28 to a low $33.69.
Steering clear of the major resistance levels, Litecoin test the first major support level at $33.79 early on.
Litecoin would need to move through to $36.40 levels to support a run the first major resistance level at $38.84.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $36.28.
Barring a broad-based crypto rebound, resistance at $37 would likely leave Litecoin short of the first major resistance level.
Failure to move through to $36.40 levels could see Litecoin fall deeper into the red.
A fall back through to the first major support level at $33.79 would bring the second major support level at $31.35 into play.
Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$30 support levels.
Major Support Level: $33.79
Major Resistance Level: $38.84
23.6% FIB Retracement Level: $62
38.2% FIB Retracement Level: $78
62% FIB Retracement Level: $104
Stellar’s Lumen rose by 2.74% on Sunday. Partially reversing a 6.70% slide from Saturday, Stellar’s Lumen ended the week down 23.94% at $0.038043.
Tracking the broader market, Stellar’s Lumen fell to an early morning low $0.036832 before striking a mid-day high 0.039922.
Steering clear of the major support levels, Stellar’s Lumen broke through the first major resistance level at $0.03945.
A pullback in the afternoon saw Stellar’s Lumen fall to an intraday low $0.036833 before making a move.
Steering clear of the first major support level at $0.03552, Stellar’s Lumen rallied to a late intraday high $0.040608.
Stellar’s Lumen broke back through the first major resistance level before wrapping up the week at $0.038 levels.
At the time of writing, Stellar’s Lumen was down by 7.59% to $0.035154. A bearish start to the day saw Stellar’s Lumen slide from an early morning high $0.038223 to a low $0.034371.
Steering clear of the major resistance levels, Stellar’s Lumen fell through the first major support level at $0.03640. The second major support level at $0.03475 limited the damage early on.
Stellar’s Lumen would need to move back through to $0.03850 levels to support a run at the first major resistance level to $0.04015.
Support from the broader market would be needed, however, for Stellar’s Lumen to break back through the first major support level at $0.03640.
Barring a broad-based crypto rebound, resistance at $0.038 would likely leave Stellar’s Lumen short the first major resistance level.
Failure to move through to $0.03850 levels could see Stellar’s Lumen fall deeper into the red.
A fall back through the second major support level at $0.03475 would bring the third major support level at $0.031 into play.
Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.030 support levels.
Major Support Level: $0.03640
Major Resistance Level: $0.04015
23.6% FIB Retracement Level: $0.1051
38% FIB Retracement Level: $0.1433
62% FIB Retracement Level: $0.2050
Tron’s TRX rallied by 5.61% on Sunday. Reversing a 4.25% slide from Saturday, Tron’s TRX ended the week down 29.95% at $0.010297.
A mixed start to the day saw Tron’s TRX rise from an early morning intraday low $0.0097 to a mid-day high $0.010537.
Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.01034.
In the early afternoon, Tron’s TRX rallied from a low $0.010004 to a late intraday high $0.011173.
Tron’s TRX broke through the first major resistance level at $0.01034 and the second major resistance level at $0.01087.
A late pullback, however, saw Tron’s TRX fall back through the major resistance levels to wrap up the week at $0.1020 levels.
At the time of writing, Tron’s TRX was down by 6.80% to $0.009596. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.010361 to a low $0.009347.
Steering clear of the major resistance levels, Tron’s TRX fell through the first major support level at $0.00961 early on.
Tron’s TRX would need to move back through to $0.01040 levels to support a run at the first major resistance level at $0.01108.
Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.010361.
Barring a broad-based crypto rebound, resistance at $0.010 levels would leave Tron’s TRX short of the first major resistance at $0.01108.
Failure to move through to $0.01040 levels could see Tron’s TRX struggle throughout the day.
A fall back through the first major support level at $0.00961 would bring sub-$0.0090 levels into play.
Barring an extended crypto sell-off, however, the second major support level at $0.00892 should limit the downside.
Major Support Level: $0.00961
Major Resistance Level: $0.01108
23.6% FIB Retracement Level: $0.0322
38.2% FIB Retracement Level: $0.0452
62% FIB Retracement Level: $0.0663
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Thanks, Bob
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.