Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 18th, 2020

Litecoin

Litecoin rallied by 5.25% on Monday. Following on from a 6.64% rally on Sunday, Litecoin ended the day at $67.30.

It was a mixed start to the day. Litecoin fell to an early morning intraday low $61.42 before making a move.

Steering clear of the first major support level at $59.49, Litecoin rallied to a late intraday high $69.00.

Litecoin broke through the first major resistance level at $66.49 to test the second major resistance level at $69.06.

A late pullback saw Litecoin fall back through to sub-$68 levels.

At the time of writing, Litecoin was up by 1.53% to $68.33. A bullish start to the day saw Litecoin rise from an early morning low $67.23 to a high $68.50.

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

For the day ahead

Litecoin would need to avoid a fall through the $65.91 pivot to support a run at the first major resistance level at $70.39.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $69.00

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

A fall through the $65.91 pivot would bring the first major support level at $62.81 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$60 levels. The second major support level sits at $58.33.

Looking at the Technical Indicators

First Major Support Level: $62.81

First Major Resistance Level: $70.39

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen fell by 1.37% on Monday. Following a 7.60% rally from Sunday, Stellar’s Lumen ended the day a $.11383.

A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.110798 before finding support.

Steering clear of the first major support level at $0.10713, Stellar’s Lumen rallied to a mid-day intraday high $0.119724.

Falling short of the first major resistance level at $0.11998, Stellar’s Lumen slid to a mid-afternoon intraday low $0.11000.

Steering clear of the first major support level at $0.10713, Stellar’s Lumen briefly revisited $0.1150 levels before sliding back into the red.

At the time of writing, Stellar’s Lumen was up by 1.77% to $0.115844. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.113654 before striking a high $0.115872.

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.11452 pivot to support a run at the first major resistance level at $0.11904.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.1190 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $0.119724 would likely limit any upside.

A fall through the $0.11452 pivot would bring the first major support level at $0.10931 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer of the second major support level at $0.10479.

Looking at the Technical Indicators

First Major Support Level: $0.10931

First Major Resistance Level: $0.11904

23.6% FIB Retracement Level: $0.09960

38% FIB Retracement Level: $0.14336518

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rallied by 8.00% on Monday. Following on from a 12.26% rally on Sunday, Tron’s TRX ended the day at $0.0305.

A bearish start to the day saw Tron’s TRX slip to an early morning intraday low $0.026755 before making a move.

Steering clear of the first major support level at $0.02536, Tron’s TRX rallied to a late intraday high $0.031619.

Tron’s TRX broke through the first major resistance level at $0.02998 and the second major resistance level at $0.03160.

A late pullback saw Tron’s TRX fall back through the second major resistance level to wrap up the day at $0.030 levels.

At the time of writing, Tron’s TRX was up by 3.64% to $0.03161. A bullish start to the day saw Tron’s TRX rally from an early morning low $0.030261 to a high $0.031773.

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

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.02962 pivot level to support a run at the first major resistance level at $0.03249.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.031773.

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

A fall through the pivot level at $0.02962 would bring the first major support level at $0.02763 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.030 levels and the major support levels on the day.

Looking at the Technical Indicators

First Major Support Level: $0.02763

First Major Resistance Level: $0.03249

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