Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – June 15th, 2020

Litecoin

Litecoin fell by 2.42% on Sunday. Reversing a 0.85% gain from Saturday, Litecoin ended the week down by 5.68% to $43.99.

It was a bearish start to the day, with Litecoin sliding from an early morning intraday high $45.08 to a late intraday low $43.54.

Litecoin fell through the first major support level $44.48 and second major support level at $43.89.

Finding late support, Litecoin broke back through the second major support level to briefly revisit $44 levels.

At the time of writing, Litecoin was down by 1.59% to $43.29. A bearish start to the day saw Litecoin fall from an early morning high $44.04 to a low $43.12.

Litecoin fell through the first major support level at $43.33 early in the day.

For the day ahead

Litecoin would need to move through to $44.20 levels to support a run at the first major resistance level at $44.87.

Support from the broader market would be needed, however, for Litecoin to break out from the first major support level.

Barring another extended crypto rally, the first major resistance level and Sunday’s high $45.08 should limit any upside.

Failure to move through the $44.20 pivot could see Litecoin fall deeper into the red.

A fall back through the morning low $43.12 levels would bring sub-$43 levels into play before any recovery.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $42.66.

Looking at the Technical Indicators

Major Support Level: $43.33

Major Resistance Level: $44.87

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen slid by 3.72% on Sunday. Reversing a 2.10% gain from Saturday, Stellar’s Lumen ended the week down by 9.98% to $0.071133.

Bearish through the day, Stellar’s Lumen slid from an early morning intraday high $0.073894 to a late intraday low $0.070618.

Stellar’s Lumen fell through the first major support level at $0.07229 and the second major support level at $0.070890.

Finding late support, Stellar’s Lumen moved back through to $0.07230 levels before falling back through the first major support level.

At the time of writing, Stellar’s Lumen was down by 2.46% to $0.069382. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.070855 to a low $0.069280.

Stellar’s Lumen fell through the first major support level at $0.069870 early on.

For the day ahead

Stellar’s Lumen would need to move through to $0.7190 levels to support a run at the first major resistance level at $0.07315.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through the first major support level.

Barring an extended crypto rally, resistance at $0.072 would likely leave Stellar’s Lumen short of the major resistance levels.

Failure to move through to $0.07190 levels could see Stellar’s Lumen fall deeper into the red.

A fall through the morning low $0.069280 would bring sub-$0.069 levels into play before any recovery.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.06861.

Looking at the Technical Indicators

Major Support Level: $0.06987

Major Resistance Level: $0.07315

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 fell by 2.64% on Sunday. Reversing a 1.62% gain from Saturday, Tron’s TRX ended the week down by 10.78% to $0.016223.

It was a mixed start to the day. Tron’s TRX rose to an early morning intraday high $0.016678 before hitting reverse.

Falling short of the first major resistance level at $0.01688, Tron’s TRX slid to a mid-afternoon intraday low $0.015953.

Tron’s TRX fell through the first major support level at $0.01634 and the second major support level at $0.01598.

Finding late support, Tron’s TRX briefly recovered to 0.01636 levels before revisiting sub-$0.016 levels.

Falling back through the first major support level, Tron’s TRX found support at the second major support level late on.

At the time of writing, Tron’s TRX was down by 2.56% to $0.015807. A bearish start to the day saw Tron’s TRX slide from an early morning high $0.016080 to a low $0.015765.

Tron’s TRX fell through the first major support level at $0.01589 early on.

For the Day Ahead

Tron’s TRX would need to move through to $0.01628 levels to support a run at the first major resistance level at $0.01662.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the first major support level at $0.01589.

Barring a broad-based crypto rally, resistance at $0.016 would likely leave Tron’s TRX short of the first major resistance level.

Failure to move through the $0.01628 pivot would bring the second major support level at $0.01556 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the third major support level at $0.01483.

Looking at the Technical Indicators

Major Support Level: $0.01589

Major Resistance Level: $0.01662

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