Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 29th, 2020

Litecoin

Litecoin rose by 4.61% on Tuesday. Following on from a 10.91% rally on Monday, Litecoin ended the day at $55.85.

It was a mixed start to the day. Litecoin rose to an early morning high $54.68 before falling to a late morning intraday low $51.71.

Steering clear of the first major support level at $48.12, Litecoin rallied to a late afternoon intraday high $57.99.

Litecoin broke through the first major resistance level at $57.46 before easing back.

At the time of writing, Litecoin was up by 0.21% to $55.97. A mixed start to the day saw Litecoin rise to an early morning high $56.28 before falling to a low $55.22.

Litecoin left the major support and resistance levels untested early in the day.

For the day ahead

Litecoin would need to avoid a fall through the $55.18 pivot to support a run at the first major resistance level at $58.66.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $57.99.

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

Failure to avoid a fall through the $55.18 pivot would bring the first major support level at $52.38 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$50 levels. The second major support level sits at $48.90.

Looking at the Technical Indicators

First Major Support Level: $52.38

First Major Resistance Level: $58.66

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 3.66% on Tuesday. Partially reversing a 4.75% slide from Monday, Stellar’s Lumen ended the day at $0.097659.

It was a bearish start to the day. Stellar’s Lumen fell to an early morning intraday low $0.093592 before making a move.

Steering clear of the first major support level at $0.08854, Stellar’s Lumen rallied to a late intraday high $0.098536.

Falling short of the first major resistance level at $0.10061, Stellar’s Lumen eased back to end the day at $0.097 levels.

At the time of writing, Stellar’s Lumen was up 0.33% to $0.097977. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.096459 before rising to a high $0.098268.

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 $0.09660 pivot to support a run at the first major resistance level at $0.9960.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Tuesday’s high $0.0.098536.

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

Failure to avoid a fall through the $0.09660 pivot would bring the first major support level at $0.09466 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer well clear of the second major support level at $0.09165.

Looking at the Technical Indicators

First Major Support Level: $0.09466

First Major Resistance Level: $0.09660

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 rose by 2.26% on Tuesday. Following on from a 0.94% gain on Monday, Tron’s TRX ended the day at $0.019179.

It was a mixed start to the day. Tron’s TRX rose to an early morning high $0.019031 before hitting reverse.

Falling short of the first major resistance level at $0.019040, Tron’s TRX slid to a late morning intraday low $0.018233.

Steering clear of the first major support level at $0.01791, Tron’s TRX rallied to a late intraday high $0.019500.

Tron’s TRX broke through the first major resistance level at $0.01940 before falling back to sub-$0.019 levels.

Finding late support, however, Tron’s TRX recovered to end the day at $0.019 levels.

At the time of writing, Tron’s TRX was up by 2.15% to $0.019591. A mixed start to the day saw Tron’s TRX rise fall to an early morning low $0.018989 before rising to a high $0.019729.

Tron’s TRX broke through the first major resistance level at $0.019710 early on.

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.01897 pivot level to support another run at the first major resistance level at $0.01971.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.019729.

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

Failure to avoid a fall through the $0.01897 pivot level would bring the first major support level at $0.01844 into play.

Barring an extended crypto sell-off, Tron’s TRX should steer clear of sub-$0.018 levels. The second major support level sits at $0.01770.

Looking at the Technical Indicators

First Major Support Level: $0.01844

First Major Resistance Level: $0.01971

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