Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 22/04/20

Litecoin

Litecoin rose by 1.09% on Tuesday. Partially reversing a 4.80% slide from Monday, Litecoin ended the day at $40.70.

It was a mixed start to the day. Litecoin rose to a mid-morning high $41.06 before sliding to a late morning intraday low $40.15.

Steering clear of the first major support level at $38.76, Litecoin rallied to a late afternoon intraday high $41.40.

Falling short of the first major resistance level at $42.56, Litecoin fell back to sub-$41 levels late in the day.

At the time of writing, Litecoin was flat at $40.70. A mixed start to the day saw Litecoin fall to an early morning low $40.33 before striking a high $40.96.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move back through to $40.80 levels to support a run the first major resistance level at $41.35.

Support from the broader market would be needed, however, for Litecoin to breakout out from the morning high $40.96.

Barring an extended crypto rally, the first major resistance level at $41.35 would likely limit any upside on the day.

Failure to move through to $40.80 levels could see Litecoin struggle later in the day.

A fall through the morning low $40.33 would bring the first major support level at $40.10 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of the second major support level at $39.50.

Looking at the Technical Indicators

Major Support Level: $40.10

Major Resistance Level: $41.35

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 1.52% on Tuesday. Following on from a 0.94% gain on Monday, Stellar’s Lumen end the day at $0.051014.

A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.050722 before hitting reverse.

Falling short of the first major resistance level at $0.05162, Stellar’s Lumen slid to a late morning intraday low $0.049320.

Steering clear of the first major support level at $0.04805, Stellar’s Lumen rallied to a late intraday high $0.051774.

Stellar’s Lumen broke through the first major resistance level at $0.05162 before easing back to sub-$0.05110 levels.

At the time of writing, Stellar’s Lumen was up by 1.54% to $0.051798. A bullish start to the day saw Stellar’s Lumen rise from an early morning low $0.050892 to a high $0.052117.

Steering clear of the major support levels, Stellar’s Lumen tested the first major resistance level at $0.05209 early on.

For the day ahead

Stellar’s Lumen would need to move back through the first major resistance level at $0.05209 to take a run at $0.053 levels.

Support from the broader market would be needed, however, for Stellar’s Lumen to breakout from the morning high $0.052117.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside on the day.

Failure to move back through the first major resistance level could see Stellar’s Lumen hit reverse.

A fall back through to sub-$0.05070 levels would bring the first major support level at $0.04963 into play.

Barring a broad-based crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.050 levels.

Looking at the Technical Indicators

Major Support Level: $0.04963

Major Resistance Level: $0.05209

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 0.84% on Tuesday. Partially reversing a 3.38% slide from Monday, Tron’s TRX ended the day at $0.012512.

A bullish start to the day saw Tron’s TRX rise to an early morning high $0.012611 before hitting reverse.

Falling short of the first major resistance level at $0.01303, Tron’s TRX tumbled to a late morning intraday low $0.012346.

Steering clear of the first major support level at $0.01208, Tron’s TRX rallied to a late afternoon intraday high $0.012715. Falling short of the first major resistance level at $0.01303, Tron’s TRX slid back to wrap up the day at $0.01250 levels.

At the time of writing, Tron’s TRX was up by 0.55% to $0.012581. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.012462 before rising to a high $0.012592.

Tron’s TRX left the major support and resistance levels untested early on.

For the Day Ahead

Tron’s TRX would need to move through to $0.012580 levels to support a run at the first major resistance level at $0.01270.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.012592.

Barring a crypto rally, the first major resistance level at $0.01270 would likely limit any upside.

Failure to move through to $0.012580 could see Tron’s TRX hit reverse.

A fall back through to sub-$0.01252 levels would bring the first major support level at $0.01233 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.012 levels. The second major support level at $0.01216 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $0.01222

Major Resistance Level: $0.01270

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