Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 19th, 2020

Litecoin

Litecoin fell by 2.62% on Tuesday. Partially reversing a 5.25% rally from Monday, Litecoin ended the day at $65.53.

It was a bullish start to the day. Litecoin rose to an early morning intraday high $68.50 before hitting reverse.

Falling short of the first major resistance level at $70.39, Litecoin fell to an early afternoon intraday low $63.30.

Steering clear of the first major support level at $62.81, Litecoin recovered to $67 levels before easing back.

At the time of writing, Litecoin was down by 5.77% to $61.75. A mixed start to the day saw Litecoin rise to an early morning high $67.15 before falling to a low $61.23.

Litecoin fell through the first major support level at $63.05 early on.

For the day ahead

Litecoin would need to move through the first major support level and the $65.78 pivot to support a run at the first major resistance level at $68.25.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $67.15

In the event of a broad-based crypto rebound, the first major resistance level would likely cap any upside.

Failure to move through the first major support level and the $65.78 pivot would bring the second major support level at $60.58 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$60 levels. The third major support level sits at $55.38.

Looking at the Technical Indicators

First Major Support Level: $63.05

First Major Resistance Level: $68.25

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 4.90% on Tuesday. Following on from a 1.37% decline on Monday, Stellar’s Lumen ended the day a $0.10826.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.1169 before hitting reverse.

Falling short of the first major resistance level at $0.11904, Stellar’s Lumen slid to an early afternoon intraday low $0.10525.

Stellar’s Lumen fell through the first major support level at $0.10931 before briefly revisiting $0.11 levels.

A bearish end to the day, however, left Stellar’s Lumen at sub-$0.11 levels.

At the time of writing, Stellar’s Lumen was down by 5.90% to $0.10187. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.10966 before falling to a low $0.10131.

Stellar’s Lumen fell through the first major support level at $0.10338 early on.

For the day ahead

Stellar’s Lumen would need to move through the first major support level at $0.10338 and the $0.11014 pivot to support a run at the first major resistance level at $0.11502.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.10966.

Barring a broad-based crypto rebound, resistance at $0.11 would likely leave Stellar’s Lumen short of the first major resistance level.

Failure to move through the first major support level and $0.11014 pivot would bring the second major support level at $0.09849 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer of sub-$0.0980 levels. The third major support level sits at $0.08684.

Looking at the Technical Indicators

First Major Support Level: $0.10338

First Major Resistance Level: $0.11502

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 slid by 5.15% on Tuesday. Partially reversing an 8.00% rally from Monday, Tron’s TRX ended the day at $0.02882.

A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.03265 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.03249 before sliding to an early afternoon intraday low $0.02743.

The sell-off saw Tron’s TRX fall through the first major support level at $0.02763 before revisiting $0.031 levels.

A late pull back, however, saw Tron’s TRX slide back to wrap up the day at sub-$0.029 levels.

At the time of writing, Tron’s TRX was down by 6.68% to $0.026895. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02897 before sliding to a low $0.02552.

Tron’s TRX fell through the first major support level at $0.02658 early on.

For the Day Ahead

Tron’s TRX would need to move through the $0.02967 pivot level to support a run at the first major resistance level at $0.03191.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.02897.

Barring an extended crypto rebound, resistance at $0.030 would likely leave Tron’s TRX short the first major resistance level.

Failure to move through the pivot level at $0.02967 would bring the first major support level at $0.02658 back into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.02434.

Looking at the Technical Indicators

First Major Support Level: $0.02658

First Major Resistance Level: $0.03191

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